Odaily Planet Daily reports that the Recall Foundation board has decided to shut down the foundation. The foundation stated that, after evaluating protocol adoption, operational costs, and growth prospects, it determined that continuing development is not commercially viable—a decision not prompted by any hack or security incident. The foundation will destroy approximately 359 million RECALL tokens under its control, representing about 35.86% of the total token supply; token holders will not receive any distribution, redemption, or buyback. The remaining funds of approximately $3.7 million will be used to repay creditors and cover liquidation expenses. The website app.recall.network will become read-only starting November 30 and is expected to complete liquidation in the first quarter of 2027.
Recall Foundation to Shut Down and Burn 35.86% of Token Supply
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Summary
Recall Foundation to Shut Down and Burn 35.86% of Token Supply in New Token Listings Update. The foundation board announced it will cease operations following an assessment of growth and costs. Approximately 350 million RECALL tokens will be burned, with no distributions to holders. Remaining funds will be used to settle debts and complete liquidation. The app.recall.network will become read-only by November 30, with full liquidation expected in Q1 2027. This token launch announcement marks the conclusion of the project’s foundation activities.
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