Wu Shuo learned that the on-chain identity project Phi will cease operations on May 25th, and phi box along with related services will be taken offline, with the team advising users to claim rewards,解除质押, and withdraw assets in advance. Phi stated that the PHI token will still be retained and traded on Aerodrome, but liquidity is expected to gradually decline. In January of this year, the team significantly laid off staff to extend the funding cycle and attempted to pivot towards prediction markets and AI, but currently, the funds are no longer sufficient to support the project's continued operation.