The team behind the on-chain analytics service Parsec has 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.
— parsec (@parsec_finance) February 19, 2026
We are eternally grateful to those that traversed the ups and downs onchain with us. It was quite the ride 🔭
“Parsec is now offline. […] We are endlessly grateful to everyone who experienced the ups and downs on-chain with us. It was an incredible adventure,” the developers stated.
The platform has initiated the process of refunding users and canceling active subscriptions. The team did not specify the reason for the shutdown.
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, based on large language models, analyzed market activity, social media sentiment on platform 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 raised $5.25 million in investments from Galaxy Digital, Polychain Capital, Robot Ventures, and Uniswap Ventures.
It’s worth noting that in November 2025, the analytics service DappRadar announced its closure, citing "financial instability" in the market. In February 2026, the DeFi protocol ZeroLend also reported a complete shutdown.
The industry is also experiencing layoffs. Polygon Labs laid off employees after acquiring payment platforms for $250 million, while the RWA project Mantra reduced its staff due to "unsustainable" costs.