XCAD Network Officially Announces Gradual Shutdown of Operations, Company Has No Remaining Funds, Products and Services Will No Longer Be Maintained
XCAD Network Announces Gradual Shutdown of Operations
XCAD Network officially announced that it is gradually shutting down operations, as the company has no remaining funds, and products and services will no longer be maintained.
The official account has remained silent since April. Maintaining the token's listing on trading platforms has become a losing battle, and existing products and services will cease to be maintained.
The company has been operating for about five years and is one of the few projects that maintained operations for years without achieving a primary exchange listing. As retail investors exit the crypto market, fan tokens have failed to achieve expected growth.
The project team previously attempted to pivot to the AI influencer sector but ultimately failed, and currently has insufficient funds to continue operations. The team is considering making the project code public for interested developers to run independently.
The official emphasized that making the code public does not mean the company will continue operations, nor is it a project restart or relaunch, stating "this is not a restart."
From a market mechanism perspective, this event is a project exit driven by depleted funds, with retail holders of XCAD tokens facing liquidity exhaustion and pressure for value to drop to zero. The cost of listing on exchanges has become a direct pressure point, with the flow of funds shifting from maintaining operations to complete liquidation, benefiting only potential developers who may reuse the code, while original holders and partners face comprehensive pressure.
Source: Public Information
ABAB AI Insight
XCAD Network completed a $3.9 million private placement financing led by Zilliqa in 2021, positioning itself as a fan token and NFT issuance platform for content creators, relying on tools like YouTube plugins to serve the creator economy, but has never achieved a primary exchange listing, relying long-term on small to medium exchanges to maintain liquidity.
In terms of capital pathways, the project attempted to pivot to the AI influencer sector to find a new narrative after retail investors exited, but failed to attract new funds, ultimately depleting remaining funds due to ongoing operational and listing costs, opting to make the code public as a final measure rather than seeking acquisition or a new round of financing, completely exiting the original business.
Similar cases can be seen with multiple fan token and creator economy projects from the 2021 cycle shutting down after liquidity exhaustion, currently in a phase where retail-driven sectors are shifting from expansion to liquidation.
The structural judgment indicates a reconstruction of the industry chain: vertical sectors reliant on sentiment and retail funds lose their self-sustaining ability after liquidity recedes, projects that have not achieved institutional-level listings and capital support accelerate their exit, with pricing power shifting from token speculation to the residual value reuse of code and infrastructure.
ABAB News · Cognitive Laws
Projects that did not list on T1 do not survive the bear market
Failed pivots are more costly than stagnation
Making code public is a dignified exit