#稳定币发展趋势 This news surprised me quite a bit. Terminal Finance, as a well-funded and technically mature DeFi project, proactively ceased operations before its official launch, which is quite rare. Data shows that they have locked in approximately $280 million worth of assets, distributed across more than 10,000 wallets, indicating a substantial scale.

Although the project team stated that they abandoned the project due to the delay in launching the Converge blockchain, I believe there may be other reasons behind it. After all, DeFi projects usually have a Plan B or an alternative chain; relying solely on a single chain carries significant risks. This may also reflect the intense competition in the stablecoin and DEX sectors, making it difficult for new projects to find a unique breakthrough point.

From another perspective, Terminal's decision also demonstrates the project team's sense of responsibility. They ensured the safety of user funds and committed to open-source code. This approach is commendable and helps maintain the industry ecosystem.

Regarding the development trend of stablecoins, this incident offers some insights: First, institutional investors still have a strong interest in the stablecoin sector; second, regulatory compliance will become a key barrier; third, pure DeFi stablecoins face considerable challenges, and integration with traditional finance may be the future direction. I will continue to monitor Ethena Labs' movements to see how they adjust their strategy.