Recall Foundation announces gradual cessation of operations, plans to burn 358.6 million RECALL tokens.

On October 31, Recall, a decentralized AI Agent evaluation and competition platform, announced that its foundation will gradually cease operations. The official statement indicated that protocol adoption, operating costs, and growth expectations are insufficient to sustain further development, and this decision was not triggered by a hack or security incident.

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

Regarding funds, the foundation currently holds approximately $3.7 million in stablecoins and fiat assets, which will be utilized to repay debts, cover liquidation costs, and establish reserves for contingent liabilities.

For staking users, already staked RECALL will not be subject to the burn. New unstaking requests will be exempt from the 30-day cooldown period, though existing lockups will remain unchanged. The official Recall application will transition to read-only mode on November 30, and users will still be able to claim their tokens through on-chain contracts thereafter.

Recall also clarified that this shutdown solely pertains to the foundation and will not impact the independent entity, Recall Labs.