The Cosmos ecosystem L1 Pryzm plans to gradually cease operations

Originally known as the Terra ecosystem project Prism Protocol, in 2024 it was rebranded as Pryzm and focused on yield optimization. The Cosmos ecosystem L1 Pryzm announced that it will gradually cease operations, with plans to complete this by January next year.

Pryzm stated that the decision to cease operations was due to the financial unsustainability of maintaining L1, and that there were risks involved in handing the company over to new management. Pryzm urges users to redeem their assets as soon as possible within the next two to three days.