Recall Foundation Announces Gradual Wind-Down, Plans to Burn 358.6 Million RECALL

According to TechFlow, on October 31, decentralized AI agent evaluation and competition platform Recall announced that its foundation will gradually wind down operations. The official statement said protocol adoption, operating costs, and growth expectations are insufficient to support continued development, and the decision was not triggered by a hack or security incident.

According to the announcement, the foundation plans to burn approximately 358.6 million RECALL under its control, accounting for 35.86% of the total token supply, with completion expected in Q1 2027. Going forward, the foundation will halt protocol development, liquidity support, new competitions, and staking rewards. Token holders will not receive token buybacks, redemptions, or asset distributions.

In terms of funding, the foundation currently holds approximately $3.7 million in stablecoin and fiat assets, which will be used to repay debts, pay liquidation costs, and set aside reserves for contingent liabilities.

For staking users, already staked RECALL is not included in the burn. Newly initiated unstaking requests will be exempt from the 30-day cooldown period, while existing lock-up periods remain unchanged. Recall's official app will switch to read-only mode on November 30, after which users can still withdraw tokens through on-chain contracts.

Recall also noted that this wind-down affects only the foundation and does not impact the independent company Recall Labs.

Source: TechFlow