Recall Foundation Shuts Down, Destroys 35.86% of Token Supply

The Recall Foundation has announced its shutdown, stating that after assessing the protocol's adoption, operational costs, and growth prospects, it deemed further development unfeasible. The shutdown is not due to any hacking or security incidents. The foundation will destroy approximately 359 million RECALL tokens, which accounts for about 35.86% of the total supply. Token holders will not receive any distributions, redemptions, or buybacks. The remaining funds of approximately $3.7 million will be used to repay creditors and cover liquidation costs. The app.recall.network will become read-only starting November 30, and the foundation expects to complete the liquidation by the first quarter of 2027. Bithumb has listed RECALL as a trading alert token and has suspended its deposits starting today at 6:30.

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