The Kobo WIFI was the second e-reader that Kobo ever made and it is officially discontinued today. It will no longer be able to access the online bookstore, so new titles cannot be purchased. There will also be no firmware updates ever again for this device. Although ebooks you currently have on the WIFI will continue to be read, as are ebooks you sideload.
Kobo did this because they did not want to upgrade the security TLS settings to the latest and greatest, likely because they saw from their analytics, that nobody was using this e-reader anymore to warrant it.
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CNET, Engadget, Huffington Post and Verge.