Terraform Labs has warned of discontinuing several of its products and services on October 30 if no third parties step up to take them over.
Discontinuation of Products and Services
The wind-down is part of Terraform's plan after settling with the SEC in June. Four services and four products are under discussion for potential takeover.
Scope of Discussions
Services under discussion include the Luna Foundation Guard, blockchain explorer, and API services. Terraform CEO Chris Amani announced the company's plans post-settlement in June, stating that the company can no longer operate.
Impact on the Community
The Terraform community will need to take on some of the responsibility for meeting the terms of the bankruptcy. Pisco testnet APIs were shut down in early September in connection with the Terraform bankruptcy plan. Pulsar Finance may already have a buyer, as it was omitted from the list of products for sale.
The wind-down plan, approved by a Delaware bankruptcy judge, represents the continuation of the process started after the SEC settlement.
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