ME News, October 31 (UTC+8) — Recall announced that the board of the Recall Foundation had decided to wind down the foundation. After assessing protocol adoption, operating costs, and growth prospects, the foundation concluded that continued development was not commercially viable. The 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 distributions, redemptions, or buybacks. 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 liquidation is expected to be completed in the first quarter of 2027. (Source: ME)