The Recall Foundation said it will shut down and destroy approximately 35.86% RECALL of the supply
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AT A GLANCE
The Recall Foundation announced its shutdown and will destroy approximately 35.86%of the RECALL token supply.
Article
Recall Foundation announces shutdown and will destroy approximately 35.86%of the token supply
PANews October 31 reported that Recall posted on X, stating that the Recall Foundation's board of directors had decided to shut down the foundation because, after assessing protocol adoption, operating costs, and growth prospects, it determined that continued development was not commercially viable, and that this was not caused by a hack or security incident. The foundation will destroy approximately 359000000 tokens RECALL of the total supply, and token holders will not receive any distribution, redemption, or buyback; the foundation's remaining approximately 35.86%in funds will be used to repay creditors and pay liquidation expenses. app.recall.network will become read-only from 3700000 USD November 30 and the foundation expects to complete liquidation in the first quarter of 2027. According to a Bithumb announcement, because the Recall Foundation announced the end of project operations, Bithumb has listed RECALL as a trading-warning asset and will, today, 6...
The Recall Foundation's board of directors decided to shut down the foundation.
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The foundation said that continued development was not commercially viable and that this was not caused by a hack or security incident.
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The foundation will destroy approximately 359000000 tokens RECALL of the total supply. 35.86%。
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Token holders will not receive any distribution, redemption, or buyback.
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The foundation's remaining approximately 3700000 USD in funds will be used to repay creditors and pay liquidation expenses.
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app.recall.network will become read-only from November 30.
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The foundation expects to complete liquidation in the first quarter of 2027.
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Bithumb has listed RECALL as a trading-warning asset.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means that the Recall Foundation will cease operations and destroy a large amount of RECALL tokens under its control. Holders will not receive any distribution, redemption, or buyback, and the relevant website will also become read-only.
Why it matters to readers
The project shutdown, token destruction, and trading warning may affect RECALL holders' assessment of the project's operations and trading arrangements.
Beginners need to distinguish between token destruction and compensation for holders: this message explicitly states that holders will not receive any distribution, redemption, or buyback.
Risks and unknowns
The supplied text is truncated in the Bithumb announcement section.
The evidence does not provide the original Recall Foundation X post or the complete Bithumb announcement link.
Subsequent execution of the liquidation and the website's transition to read-only status has not yet been confirmed by the evidence.
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