Phi to Cease Operations on May 25, Token Trading Continues

Phi, a blockchain identity project, will cease operations on May 25, according to Foresight News. Services such as phi.box will be discontinued, but the PHI token will remain available for trading on Aerodrome. Earlier this year, Phi undertook significant layoffs in January to reduce costs and seek a sustainable path forward. In the following months, the team explored various possibilities, including transitioning into prediction markets or the artificial intelligence sector. However, the project's funding is no longer sufficient to sustain operations.