Recall Foundation to shut down project, burn 35.86% of RECALL supply

The Recall Foundation, the organization behind the AI agent evaluation infrastructure project RECALL, said on Oct. 31 via its official X account that it had decided to end operations and liquidate the project, citing a lack of commercial viability. Under the plan, around 358.65 million RECALL tokens held directly by or under the control of the foundation will be burned, representing 35.86% of total supply. The foundation said there will be no buyback for token holders and no distribution of remaining assets. About $3.7 million held by the foundation will be used to repay creditors and cover liquidation costs. The foundation’s operating web application will switch to read-only mode starting Nov. 30, while staked tokens will be excluded from the burn. According to CoinMarketCap, RECALL was trading at $0.02925, down about 24.26%.