Foundation Shuts Down and Burns Approximately 35.86% of Token Supply, Recall Announces Liquidation

Odaily: Recall stated that the Recall Foundation's board of directors has decided to shut down the foundation. The foundation said that after evaluating protocol adoption, operating costs, and growth prospects, it concluded that continued development is not commercially viable, and that this decision was not caused by a hack or security incident. The foundation will burn 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 foundation's remaining funds of approximately $3.7 million will be used to repay creditors and cover liquidation costs. app.recall.network will become read-only starting November 30, and the liquidation is expected to be completed in the first quarter of 2027.