According to CoinMeta, cascade (formerly the derivative protocol DEFI derived from perennial) has announced the cessation of its operations. The team stated that over the past five years, they have been dedicated to building a unified brokerage platform that supports global markets and provides 24/7 trading services, but they have now decided to shut down the business. Users can claim their remaining CLS and trading funds through a designated page. cascade once received support from institutions such as Polychain Capital, Variant Fund, Coinbase Ventures, and Archetype. In July of this year, cascade's CLS and vault suffered an attack worth approximately $1.3 million, and the project team later indicated that the relevant funds had been recovered.