BlockBeats news, on March 18, according to official announcements, the DAO governance platform Tally (@tallyxyz) issued a statement on X, declaring that the company will not proceed with its originally planned ICO (Initial Coin Offering) and will officially shut down after more than five years of operation.
The primary reasons include the fact that, although the planned ICO had nearly completed all procedures, the team determined that the current market conditions make it impossible to fulfill commitments to token holders. Additionally, the entrepreneurial market for governance tools remains underdeveloped; the crypto industry has primarily achieved alignment in payments and speculation, while decentralized protocol ecosystems resembling an "infinite garden" and large-scale governance needs have not materialized as expected.
The official statement noted that over five years of operation, Tally has achieved significant milestones, processing over $10 billion in payments, safeguarding assets worth more than $80 billion, serving over one million users and hundreds of organizations, and enabling tens of millions of token holders to participate in governance through the platform—while enduring multiple challenges such as DDoS attacks and regulatory pressure, without a single major security incident.
Regarding next steps, the governance application will begin phasing out by the end of this month; enterprise customers already have continuation plans in place, while small organizations should monitor announcements and migrate accordingly. Outstanding team members are actively exploring new opportunities—we welcome inquiries from potential employers.
The founder of Tally said: "We were part of the crypto story, and I believe in crypto more than ever."