Supported by Uniswap and Galaxy, the Parsec platform will shut down without explanation - ForkLog: cryptocurrencies, AI, singularity, the future

Froklog · 2026-02-20T06:57:26+00:00

Parsec, a blockchain analytics service, is shutting down after five years without providing a reason. The team began the refund process and expressed gratitude to their users. The platform offered customizable dashboards and API access for DeFi and NFT data.

Froklog

2026-02-20 06:57:26

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Supported by Uniswap and Galaxy platform Parsec will close without explanation

The on-chain analytics service team Parsec announced the closure of the project after five years of operation.

After 5 years, parsec is shutting down. Not how we wanted our story to end, but we are proud of what we built and the value we provided along the way.

We are eternally grateful to those that traversed the ups and downs onchain with us. It was quite the ride 🔭

— parsec (@parsec_finance) February 19, 2026

“Parsec is now offline. […] We are infinitely grateful to everyone who experienced the highs and lows onchain with us. It has been an incredible journey,” the developers wrote.

The platform has begun the process of refunds and cancellation of active subscriptions. The team did not specify the reason for the closure.

Parsec provided a terminal for creating customizable dashboards, visualizing DeFi and NFT data, and offered API access.

The project also experimented with artificial intelligence. The Parsec Agent tool, based on large language models, analyzed market activity, social media sentiment on X, and betting on Polymarket.

The Parsec Agent, your crypto native sidekick pic.twitter.com/spISg4xyDU

— parsec (@parsec_finance) December 8, 2025

The service launched in early 2021 and attracted investments from Galaxy Digital, Polychain Capital, Robot Ventures, and Uniswap Ventures totaling $5.25 million.

Recall that in November 2025, the analytics service DappRadar announced its closure, citing “financial instability” in the market. In February 2026, DeFi protocol ZeroLend announced the complete cessation of operations.

The industry also sees layoffs. Polygon Labs laid off employees after acquiring payment platforms for $250 million, and RWA project Mantra reduced staff due to “unstable” costs.

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