- Terraform Labs (TFL) is undergoing strategic asset sales, including Pulsar and Station, as part of its Chapter 11 proceedings.
- These sales aim to fulfill obligations to the U.S. SEC and maximize value for creditors.
- TFL’s diverse blockchain products, such as Pulsar and Enterprise, highlight its role in Web3 development and decentralized economies.
Terraform Labs Pte. Ltd. (TFL) announced the strategic sale of its business assets, including its subsidiary, Proximity Panorama, LDA.
This move is part of TFL’s Chapter 11 proceedings and aims to fulfill the terms of its settlement with the U.S. Securities and Exchange Commission.
Terraform Labs is actively seeking buyers for several key assets. Among them is Pulsar, a portfolio tracker that indexes over 100 blockchains and features a proprietary indexing SDK. This SDK streamlines data integration by abstracting protocols and RPC nodes, making it appealing to application developers.
Also on the market is Station, a non-custodial interchain hot wallet designed for the Cosmos ecosystem. With both browser and mobile capabilities, Station has garnered over 600,000 downloads to date.
The sale further includes Enterprise, a no-code DAO management platform that enables organization, treasury management, spending through governance votes, and distribution of staking rewards for DAOs. Another key asset up for grabs is Warp, an on-chain decentralized automation protocol that allows for condition-based execution of smart contracts.
This sale process represents a significant step in Terraform Labs’ efforts to maximize value for its creditors and stakeholders. The company intends to generate revenue to address its Chapter 11 commitments through these asset sales.
Terraform Labs encourages interested parties to express their interest and obtain further information through its investment banker, CAVU Securities, LLC. This decision is expected to mark a pivotal moment as TFL continues to wind down its operations while prioritizing maximum value for all involved parties.
Founded in 2018 and based in Singapore, Terraform Labs Pte Ltd. (TFL) employed a globally distributed team of experienced Web3 developers and crypto experts.
The company’s flagship Terra blockchain, along with tools like Alliance, Station wallet, Warp protocol, and Enterprise platform, are all being offered up for sale as part of the company’s Chapter 11 restructuring and settlement with the SEC. This strategic divestment marks a somber end to a once-promising venture.
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