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.
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 eternally grateful to everyone who experienced the ups and downs on-chain with us. It was an incredible adventure,” the developers wrote.
The platform has begun the process of refunding and cancelling 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 bets on Polymarket.
The Parsec Agent, your crypto native sidekick pic.twitter.com/spISg4xyDU
— parsec (@parsec_finance) December 8, 2025
The service emerged in early 2021 and attracted investments from Galaxy Digital, Polychain Capital, Robot Ventures, and Uniswap Ventures, totaling $5.25 million.
Back in November 2025, the analytics service DappRadar announced its closure, citing the “financial instability” of the market. In February 2026, the DeFi protocol ZeroLend reported a complete shutdown.
The industry is also seeing layoffs. Polygon Labs laid off employees following the acquisition of payment platforms for $250 million, while the RWA project Mantra reduced its staff due to “unsustainable” costs.