Recall Foundation decides to shut down and destroy about 359 million RECALL; Bithumb will designate it as a trading caution and suspend deposits
Recall posted on X that the Recall Foundation board of directors decided on October 30, 2026 to shut down the foundation soon. The foundation said that after evaluating protocol adoption, ongoing operating costs, and future growth prospects, it believed continued development was commercially unviable, and that the decision was not caused by a hack or security incident. The foundation board made this decision independently of Recall Labs. RECALL was launched in October 2025 to support decentralized evaluation infrastructure for autonomous AI agents.
The foundation will destroy all locked and unlocked RECALL tokens directly under its control, estimated at about 358,562,442 tokens, or 35.86% of the total supply of 1 billion, including the locked foundation treasury, ecosystem reserves, unlocked wallets, liquidity pools, and more. Token holders will not receive any distribution, redemption, buyback, or monetary consideration. The foundation's remaining about $3.7 million in funds, mainly USDC/USDT and fiat currency, will be used to repay creditors and vendors (about $3.45 million), liquidation expenses (about $200,000), and a reserve for contingent liabilities (about $50,000), with the expected balance being zero. app.recall.network will become read-only starting November 30; staked tokens are not affected by the destruction, and the 30-day cooling-off period for new unstaking requests will be canceled. The foundation expects to complete liquidation in the first quarter of 2027, before which its subsidiary Atlas Networks Limited will enter voluntary liquidation proceedings. The official warning said to beware of scams during the liquidation period, and there will be no new tokens, airdrops, or migration.
Separately, according to multiple reports, as the Recall Foundation announced the end of project operations, Bithumb has designated RECALL as a trading caution coin and has suspended its deposits starting today.
Original sources:
Title: The Recall Foundation is winding down Publisher: Recall Foundation Publication date: 2026-10-30 URL: https://recall.network/terms Nature of source: Direct post by the party involved Verification: full text read in this round, accessed on 2026-10-30/31 Supporting content: board shutdown decision, commercial unviability reason and statement that it was not a security incident, plan to destroy about 358.56 million RECALL (35.86%), no holder distribution/redemption/buyback, use of about $3.7 million in funds, app.recall.network becoming read-only on November 30, liquidation timeline in Q1 2027, and staking handling details
Title: The Recall Foundation is winding down (X post) Publisher: Recall (@recallnet) Publication date: 2026-10-30 URL: https://x.com/recallnet/status/2116234988601704457 Nature of source: Direct post by the party involved Verification: original post read in this round, accessed on 2026-10-30 Supporting content: official announcement full text confirms the key figures
ABAB AI Insight
The Recall Foundation aims to build decentralized evaluation and ranking infrastructure for autonomous AI agents through on-chain competitions. The RECALL token went live around October 15, 2025, and the project had previously completed a public testnet. The foundation's decision to shut down was based on an assessment of adoption, costs, and growth prospects, and explicitly ruled out a hack or security incident. The board made the decision independently of Recall Labs, and the announcement covers only the foundation and its wholly owned subsidiary Atlas Networks Limited.
On the capital side, the foundation currently holds about $3.7 million in assets, which will be used first for payments to creditors and vendors rather than distribution to token holders. The destruction involves about 35.86% of the supply directly controlled by the foundation, excluding staked tokens, and after the destruction the total supply is expected to fall to about 641.4 million tokens. Secondary-market trading and exchange listings are independently decided by third-party platforms; the foundation will stop software development, administrative support, and liquidity support. Bithumb's designation of RECALL as a trading caution and suspension of deposits is the exchange's independent response to the end of the project's operations.
Unlike a typical token project that continues operating or seeks financing, this is an orderly liquidation: the foundation is destroying its holdings to reduce supply while protecting already staked users' assets and providing an on-chain direct withdrawal path. If more AI-agent-related projects are liquidated due to insufficient adoption, scrutiny of token-economy sustainability and holder-protection provisions may intensify. Key metrics to watch are whether the destruction is completed as planned before liquidation, whether exchanges further delist the token, and whether staked users can withdraw smoothly through the contract.
ABAB News · Cognitive Law
After evaluating adoption and costs, the foundation determined that the business was commercially unviable, thereby initiating an orderly liquidation and destroying its own holdings, with no distribution to holders.
Exchanges' independent responses to the project's termination, such as Bithumb's caution notice and suspension of deposits, may appear before the foundation completes liquidation.