Recall Foundation to Burn 358.6M RECALL Tokens and Liquidate Recall Labs

Recall Foundation said on October 30, 2026 that it will shut down and burn approximately 358,562,442 RECALL tokens, with token holders receiving no compensation, distributions or buybacks. Crypto Briefing reported the announcement, which also covers the liquidation of development subsidiary Recall Labs.

Recall Foundation's Token Burn and Liquidation Plan

The burn covers 35.86% of RECALL's total supply of 1 billion tokens. The tokens will be sent to a dead address that nobody can access, removing them from circulation permanently, and staked tokens are exempt. Once the burn is complete, total supply is estimated to fall to 641.4 million RECALL.

The Foundation cited rapid changes in the AI landscape and a conclusion that the product directions it tested were no longer viable. The burn is expected to happen immediately before final liquidation, which the Foundation projects for Q1 2027.

Recall Labs is projected to liquidate around December 2026, and the Foundation itself is expected to follow around January 2027. The Foundation holds an estimated $3.7 million in stablecoins and fiat, earmarked for creditors and wind-down costs, and remaining funds are expected to reach zero once debts are paid.

Recall set out to build decentralized infrastructure for evaluating and ranking autonomous AI agents through on-chain competitions. The project launched a public testnet in March 2025, and its token followed on October 15, 2025, as an ERC-20 on Base.

Recall Labs' Funding and Platform Scale

According to akta.pro company records, Recall Labs raised $30 million in a Series A announced in March 2025 from Animoca Brands, Coinbase Ventures, ConsenSys Mesh, Multicoin Capital, Reciprocal Ventures and The LAO. The same records list total funding of $35.5 million and five funding rounds on record, including a $4 million round in January 2023 and a $1.5 million seed in July 2019 led by BlueYard Capital.

The records put registered users across the platform at more than 1,400,000, AI agents available in the marketplace at more than 175,000 across 10 skill markets, and total community curations at 9,000,000. Recall Labs' headcount range is listed as 11-50, with Andrew Hill as Chief Executive Officer and Sander Pick as Co-founder and CTO.

Recall Network's November 30 Read-Only Date

The Recall Network app will switch to a read-only state on November 30, 2026, after which new competitions and rewards will stop. The Foundation's announcement, published on its company website, sets the burn for just before final liquidation in Q1 2027.