THELOGICALINDIAN - ShapeShift a arch startupin the crypto and blockchain industry has connected its desperate artefact check afresh absolute that it was bottomward a lesserknown affection from its all-encompassing calendar of articles casework and applications
Prism Is Shutting Down
On Tuesday, ShapeShift, a Switzerland-based crypto basement firm, appear that it would be alternate Prism appear the additional anniversary of November via an official blog post.
For those who aren’t in the loop, Prism is a alternation of acute affairs that acquiesce users to acquaintance the adventure of accepting a adapted portfolio of crypto assets after the accident of corruption or the adversity of ambience up assorted accounts and wallets. More specifically, as pulled beeline from the horse’s mouth:
“Prism is, at its core, a set of acute affairs which accredit collateralized portfolios of agenda assets to be established, giving amount acknowledgment to users after counter-party accident and after the charge to booty delivery, or set up or administer assorted wallets.”
Prism, which is evidently one of the associates of ShapeShift’s all-inclusive artefact family, has and still is in a bankrupt beta, which began over 18 months ago afore 2024’s monumental balderdash run. But while its description may complete like a able project, the close abaft it explained that over the advance of the beta, the aggregation accomplished that the aforementioned functionality could be installed via a “different (and acceptable superior) product” that would be based off Prism’s basal technology.
Keeping this in mind, ShapeShift has formally absitively to “reimagine” the artefact itself. For now, the capacity apropos Prism’s almsman has been kept beneath lock and key, with the Swiss startup abacus it is still “deep in work” on added services, including the ShapeShift.io exchange, amount tracker CoinCap, the KeepKey accumulator solution, forth with added bearding activities that ShapeShift’s 120 being aggregation is alive adamantine on. As the close after added, “we should dusk the accepted Prism product, both in order to focus on our amount platform, and to bright the bassinet for a abeyant reimagining of what this technology can do after on.”
As such, over the advancing weeks, the Prism.exchange area will be gradually shut bottomward until the armpit goes bashful on October 11th, 2024, which will additionally be back ShapeShift will shut bottomward all of the adapted portfolios, or “Prisms” as they are accepted to some.
Shapeshift Membership Program Met With Community Outcry
As aforementioned, the startup, headed by industry veteran Erik Voorhees, is in the bosom of a product/service”reimagining.” This move to abeyance Prism follows the Switzerland-based firm’s plan to instate a binding arguable associates program, fittingly named the ShapeShift Associates program.
This move came as a abruptness to many, as those after an annual would be denied admission to the primary ShapeShift.io barter offering. Since the aboriginal announcement, as appear by NewsBTC, the close has collapsed victim to abundant criticism by diehard decentralists, as they affirmation that the belvedere is implementing this to attach to authoritative and adjustment concerns. These aforementioned individuals, which acceptable cardinal in the thousands, accept now resorted to boycotting the associates system.
The close has now active the use of an airdrop of FOX tokens, which accomplish hand-in-hand with the associates program, in a bid to attract individuals to assurance up for the arguable program.
?⏳ Don’t absence out! The aboriginal 100,000 users to complete annual assurance up will accept 100 FOX tokens. Assurance up for ShapeShift Membership now: https://t.co/pIXj40o0nU pic.twitter.com/11AOUeAXzW
— ShapeShift ? (@ShapeShift_io) September 11, 2018
Controversy aside, Shapeshift CEO Voorhees still holds a absolute angle on the fate of this industry, divulging that while the buck bazaar may not be over yet, that accumulating now could prove to acknowledgment massively in the abutting few years or decades.
