Timefun will shut down its existing platform and move towards new products and a new brand.

Huoxun Finance reported on November 5th that Timefun announced it will shut down its existing platform and transition to a new product and brand. The official statement said that points earned by users on Timefun will be migrated to the new application, and no new points will be issued. The platform will retain the sale and withdrawal of creator tokens for several months; users are advised to withdraw their funds and export their keys as soon as possible. The new application will not involve creator tokens, will focus on new social primitives, and will remain a crypto application in the long term. A snapshot of points has already been taken, and the final allocation will be retained and carried over to the new application. The creator token is the SPL token, which will continue to exist on-chain.