Recall Foundation is winding down operations and plans to burn approximately 358.6 million $RECALL tokens.
That’s 35.86% of the token’s total supply, potentially reducing it from 1 billion to roughly 641.4 million.
But holders shouldn’t expect a payout.
The Foundation has ruled out buybacks, redemptions and treasury distributions. Its remaining $3.7 million is reserved for creditors and liquidation expenses.
The Recall app will also switch to read-only mode on November 30.
A major shutdown for a project launched just over a year ago.
That’s 35.86% of the token’s total supply, potentially reducing it from 1 billion to roughly 641.4 million.
But holders shouldn’t expect a payout.
The Foundation has ruled out buybacks, redemptions and treasury distributions. Its remaining $3.7 million is reserved for creditors and liquidation expenses.
The Recall app will also switch to read-only mode on November 30.
A major shutdown for a project launched just over a year ago.
