Recall Network shuts down after determining its AI agent evaluation protocol lacks sufficient commercial viability and adoption.
AI & Agents ·
Recall Network's board determined on October 30, 2026 to wind down the Recall Foundation after assessing that its protocol for decentralized evaluation infrastructure for autonomous AI agents lacks sufficient commercial viability and adoption to justify ongoing costs. The project raised approximately $42 million in 2022, led by Multicoin Capital and Union Square Ventures. The shutdown is unrelated to any security breach or hack.
The Foundation plans to burn approximately 358.6 million RECALL tokens—roughly 35.86% of total supply—held under its direct control, with all tokens sent to a dead address. The organization holds approximately $3.7 million in stablecoins and fiat assets as of October 30, allocated toward creditor payments, wind-down expenses, and contingency reserves. The RECALL smart contract on Base remains immutable, though the Foundation will cease all software development and liquidity support.
The Foundation intends to initiate voluntary liquidation proceedings under Cayman Islands law, with its subsidiary Atlas Networks Limited doing likewise under British Virgin Islands law. Token holders will receive no distributions or monetary consideration. Access to the Foundation's web applications will cease 30 days after announcement, with the Foundation entering liquidation in estimated January 2027 and Q1 2027 respectively. Staked tokens remain unstaked by holders' direct action and are not subject to the burn.