Recall Foundation to Shut Down and Burn 35.86% of RECALL Supply

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.

The app at app.recall.network will switch to read-only on Nov. 30. The foundation expects to complete liquidation in the first quarter of 2027. Together, those measures pair a substantial reduction in RECALL’s supply with the end of the foundation’s development work.