Founder Will Sheehan announced the complete shutdown of the platform. The project had provided users with on-chain data tracking tools since early 2020, yet the team failed to restructure the business model following a series of major market shocks.
Loss of Relevance
The project reached peak popularity during the collapse of the algorithmic stablecoin Terra, the bankruptcy of Three Arrows Capital, alongside the mass liquidations of 2022. Institutional players actively used the terminal to navigate the decentralized lending market.
The subsequent fall of FTX permanently altered the structure of the DeFi segment. User activity shifted to new formats that Parsec developers failed to recognize in time. The platform saw brief spikes in interest driven only by the launch of analytical dashboards for Polymarket, coupled with monitoring activity around the friend.tech application.
Sheehan disbanded the team after five years of building together. The creator will continue working within the crypto industry by writing specialized content.