Decentralized AI platform Recall announces gradual cessation of operations
2026-10-31 09:55:09
According to CoinMeta, Wu said that the decentralized AI agent evaluation and competition platform Recall announced that its foundation will gradually cease operations. The reason is that the adoption of the protocol, operational costs, and growth expectations are not sufficient to support continued development, and it is not due to a hacker attack or security incident. The foundation plans to destroy approximately 358.6 million of its Recall tokens, which accounts for 35.86% of the total token supply, with completion expected in the first quarter of 2027. Subsequently, protocol development, liquidity support, new competitions, and staking rewards will be stopped. Token holders will not receive token buybacks, redemptions, or asset distributions. The foundation currently holds about $3.7 million in stablecoins and fiat assets, which will be used to repay debts, pay liquidation fees, and reserve for potential liabilities. Recall tokens that have already been staked are not within the scope of destruction. New unstaking requests will be exempt from a 30-day cooling-off period, but the original lock-up period will remain unchanged. The official application will switch to read-only mode on November 30th, after which users can still withdraw tokens through on-chain contracts. This termination of operations does not involve the independent company Recall Labs.
Source:X
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