Terraform Labs has announced that it is in talks with third parties to take over operations of some of its products and services. However, in the event that these discussions do not materialize, the company has announced that it will be shutting down these products on October 30, 2024.
The products and services that are set to be shut down include:
Products:
- Enterprise
- Warp
- Station
- Alliance Hub
Services:
- Finder Block Explorer
- Foundation
- IBC Relayers
- Mantlemint, FCD, & API services
Terraform Labs received court approval for a bankruptcy last week after reaching a settlement with the SEC. The company had agreed to pay a $4.47 billion penalty to the SEC in January.
Terraform Labs was the company behind the Terra (LUNA) token, which collapsed in 2022, triggering the collapse of an ecosystem worth nearly $40 billion. The company, previously led by founder Do Kwon, was transferred to bankruptcy administration after the bankruptcy.
