TechFlow reports that Phezzan Protocol, a decentralized perpetual contracts protocol in the zkSync ecosystem, announced on X (formerly Twitter) that after multiple discussions, the team has decided to shut down Phezzan. The Phezzan Twitter account will no longer be updated, and the Phezzan Discord server will be closed within 24 hours. Additionally, Phezzan's code will be open-sourced on GitHub.
It was reported that on April 23, Phezzan Protocol tweeted that a new team had taken over the Phezzan Protocol project, assuming management responsibilities, and would conduct an IDO soon to address operational funding needs.
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