The Recall Foundation is shutting down and will burn approximately 358.6 million RECALL tokens as part of its wind-down process. The Foundation announced the decision on October 30, 2026, stating that rapid changes in the AI landscape and the non-viability of tested product directions led to the closure.
Token holders will receive no compensation, distributions, or buybacks. The Foundation holds an estimated $3.7 million in stablecoins and fiat, which is earmarked for creditors and wind-down costs. Remaining funds are expected to reach zero once debts are paid.
Details of the Burn and Liquidation
The planned burn covers 35.86% of RECALL's total supply of 1 billion tokens. The tokens will be sent to a dead address, permanently removing them from circulation. Staked tokens are exempt from the burn. Once complete, total supply is estimated to fall to 641.4 million RECALL.
The Foundation will liquidate alongside its development subsidiary, Recall Labs. The timeline unfolds in stages: the Recall Network app will switch to read-only on November 30, 2026, with no new competitions or rewards after that date. Recall Labs is projected to liquidate around December 2026, followed by the Foundation itself around January 2027. The token burn is expected to occur immediately before final liquidation in Q1 2027.
Project Timeline
Recall launched a public testnet in March 2025 and released its token on October 15, 2025, as an ERC-20 on Base. The project had positioned itself to build decentralized infrastructure for evaluating and ranking autonomous AI agents through on-chain competitions. The wind-down announcement came just over a year after the token launch.
