Sunsetting THX Network 🌇
We have made the decision to sunset — a nicer way to say shut down — the THX Network product, including the dashboard, API, and wallet infrastructure, as of February 1, 2025.
This was not an easy choice, but recent setbacks have made it clear that continuing to operate is no longer viable. We are proud of what we’ve achieved together — from the early days of empowering organizations to launch engagement rewards with support from the European Union’s Horizon 2020 grant program, to more recently enabling our gaming and fintech customers to launch quests in minutes and earning the backing of notable investors like Techstars.
Why We’re Sunsetting
The issues following the Coinstore fundraise have had a disastrous and irreversible impact on the THX token, severely disrupting its demand and long-term viability. Separately, while our efforts to find product-market fit for the core THX Network product showed promising results, it became clear that achieving break-even cash flow would take too long, and reaching a level of growth attractive to venture funding was not realistic.
What always motivated us was the chance to reimagine the SaaS business model by creating an ecosystem where all stakeholders, including users, share in success. We partially achieved this with the creation of our token economy, introducing a novel way to engage and reward participants. However, ultimately, we couldn’t make this model work sustainably and at a meaningful scale.
While we’ve explored various paths forward, we’ve concluded that winding down the company’s operations after the community chose to redeem the remaining value of their tokens is the best way to responsibly close this chapter.
What Happens Next
The THX Network product and services will remain operational until February 1, 2025. After this date:
- The dashboard and API will no longer be accessible.
- Integrated wallets will be accessible using Twinstory for NFTs. Coins (ERC-20) need to be transferred out. After February 28, 2025, balances may no longer be recoverable.
Data export: Users requiring a JSON export of their data must submit a request through Discord support. Customer data like quest entries will be permanently deleted after 28th of February, 2025.
Alternative Self-Custody Transition: Users wishing to transition their wallets to be accessed via the Safe{Wallet} user interface can submit a request through Discord support by providing their externally owned account (EOA).
If you need further assistance with transitioning, please reach out to our team on Discord or e-mail, and we’ll do our best to help.
Claim USDC for THX token holders
Following the vote to withdraw THX token liquidity and unwind the tokenomics, 795 accounts are eligible to claim approximately $50,000 in USDC, distributed proportionally to their THX token balances at the time of the snapshot.
The first claim became available on Sablier in December 2024. Stay updated by following us on Telegram, LinkedIn, X, or Discord for the second, and final, claim at the beginning of July 2025.
Gratitude to Our Community
To our employees, customers, and backers — thank you. None of this would have been possible without your trust and enthusiasm. A special thanks to our advisors and fellow founders at Techstars, and the broader THX Network community for believing in us and being part of this journey.
If you have any questions or concerns, please don’t hesitate to reach out.
Sincerely,
The THX Network Team
