The Recall Foundation announced on October 30, 2026, that it will shut down after determining that further development of its protocol is no longer commercially viable. The board reached the decision following a review of protocol adoption, operating costs, and growth prospects. The foundation stated that the move is unrelated to any hack or security incident.

Recall launched to support open evaluation and ranking of autonomous AI agents through on-chain competitions. It introduced a public testnet in March 2025 and the RECALL token on October 15, 2025. After roughly one year of operations, the foundation concluded that the product directions it had tested could not sustain continued work.

Token Burn Details

The foundation plans to burn approximately 358.6 million RECALL tokens, equal to 35.86% of the original one-billion-token supply. These tokens, which are under foundation control, will be sent to an inaccessible dead address. Categories included in the burn cover locked foundation treasury holdings, locked ecosystem reserves, unlocked foundation wallets, liquidity pool balances, unvested allocations, and tokens tied to market-maker loans and options.

After the burn, the circulating supply is estimated at about 641.4 million RECALL, with none remaining under foundation control. The final transfer is expected shortly before the foundation’s liquidation in the first quarter of 2027. Liquidity pool balances and outstanding options may cause the exact figure to vary slightly.

Impact on Token Holders

RECALL holders will receive no buybacks, redemptions, or distributions from the remaining treasury. The token contract on the Base network is immutable and will continue to function. Staked RECALL tokens belong to holders and are excluded from the burn. Positions will not be released automatically, so users must initiate unstaking and withdrawal themselves.

New unstaking requests submitted from October 30 carry no 30-day cooldown. Requests already in process keep their original timelines, and existing lock-up periods remain in force. Holders whose lock-ups end after November 30 can interact directly with the staking contract by calling the relevant functions and paying gas in ETH on Base.

Exchanges will decide independently whether to continue listing RECALL. The foundation anticipates some delistings. It has also cautioned users about potential scams, stating there will be no new token, airdrop, migration, or redemption process.

Application Changes and Timeline

The application at app.recall.network will switch to read-only mode on November 30, 2026. New competitions and staking rewards have already ended. Competitions already underway will conclude, and any earned rewards will be distributed through the application. Protocol development and liquidity support will cease, though on-chain withdrawals remain possible via the staking contract.

Atlas Networks Limited, the foundation’s wholly owned subsidiary, is expected to enter voluntary liquidation under British Virgin Islands law in December 2026. The foundation itself plans to begin Cayman Islands liquidation proceedings in January 2027, with final steps and the remaining token burn projected for the first quarter of 2027.

Treasury Allocation

The foundation holds an estimated $3.7 million in USDC, USDT, and fiat as of the announcement date. These funds are fully allocated to existing obligations and closure expenses. Creditors and vendors are set to receive about $3.45 million. An additional $200,000 is reserved for legal, liquidation, security, engineering, insurance, and team transition costs, while $50,000 is held as a contingency reserve. The estimates are unaudited and may change, with no residual amount planned for token holders.

The board’s decision applies to the Recall Foundation and Atlas Networks Limited. It was made independently of Recall Labs, which is a separate corporate entity and is not covered by the wind-down notice.