Recall said its foundation board has decided to shut down the Recall Foundation and proceed with liquidation. The foundation said the move followed a review of protocol adoption, operating costs, and growth prospects, concluding that continued development was no longer commercially viable. It also said the decision was not caused by a hack or any security incident. As part of the process, the foundation plans to burn about 359 million RECALL tokens under its control, equal to roughly 35.86% of total supply. Token holders will not receive any distribution, redemption, or buyback. The foundation’s remaining funds, about $3.7 million, will be used to repay creditors and cover liquidation expenses. It added that app.recall.network will switch to read-only mode starting Nov. 30, with liquidation expected to be completed in the first quarter of 2027.
Recall said the board of the Recall Foundation has decided to shut down the foundation and move into liquidation.
The foundation said it reached the decision after reviewing protocol adoption, operating costs, and growth prospects, and concluded that continued development was not commercially viable. It added that the move was not the result of a hack or any security incident.
It plans to burn about 359 million RECALL tokens under its control, representing roughly 35.86% of the token’s total supply. Token holders will not receive any distribution, redemption, or buyback.
The foundation’s remaining funds of about $3.7 million will be used to repay creditors and cover liquidation costs. It also said app.recall.network will become read-only starting Nov. 30, and the liquidation is expected to be completed in the first quarter of 2027.
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