**[DeFi Derivatives Protocol Polynomial to Cease Operations]** Foresight News reports that the DeFi derivatives protocol Polynomial announced via a tweet that it has ceased operations as of February 14 (Beijing time) and has entered the winding-down phase. Both Polynomial Chain and Polynomial Trade will be shut down, with forced liquidation scheduled for February 18, the liquidity layer to be closed on February 24, and the chain to cease operations on March 3. Polynomial stated that the previously announced TGE plan, which was scheduled for Q1, will also be canceled, as they are unwilling to "issue tokens for a product that is about to disappear." However, participant data will be retained, and early supporters will have priority access to the new company's products. Polynomial further noted that technology is not the moat for the derivatives market—liquidity is. However, Polynomial lacks liquidity, with its TVL peaking at only $8 million. The team mentioned that the new company will still be related to derivatives. Foresight News previously reported that Polynomial announced in May 2023 that it had completed a seed funding round, with participation from Road Capital and some Synthetix executives. The amount raised was not disclosed.