On-chain identity project Phi will cease operations on May 25

According to official sources, the online identity project Phi will cease operations on May 25, and phi.box and other services will cease services, but PHI tokens will remain and continue to be traded on Aerodrome.<br /> Phi said that in January this year, the team made massive layoffs to reduce costs and find a sustainable development path. In the months that followed, Phi explored various possibilities, including transitioning into the prediction market or artificial intelligence, but funding was no longer available to support the project's continued operation.