Recall Foundation to Shut Down and Burn 35.86% of RECALL Supply
Photo: TokenPost
Recall Foundation will close after its board determined that continued protocol development is no longer commercially viable, while planning to burn about 359 million RECALL tokens, or 35.86% of the asset’s total supply. The board based its decision on an assessment of protocol adoption, operating costs and growth prospects. The foundation said the shutdown is unrelated to a hack or security incident. The planned burn applies to tokens controlled by the foundation. Holders will receive no distributions, redemptions or buybacks in connection with the closure. The foundation has about $3.7 million remaining, earmarked for creditor repayments and liquidation costs.
Source: TokenPost
