The Recall Foundation is winding down October 30, 2026 · Recall Foundation The board of directors of the Recall Foundation has determined to shortly wind down the Foundation. The Foundation’s board made this determination independently from Recall Labs, an independent corporate entity. This post outlines the operational and financial impact of the wind-down process on the RECALL token, the disposition of Foundation funds, and the timeline for remaining activities. The short version Token Burn. The Foundation intends to burn all locked and unlocked RECALL tokens under its direct control. This is estimated at 358.6M RECALL, representing approximately 35.86% of the total token supply, including the locked Foundation Treasury and Ecosystem reserves. More detailed information found below. No Token Redemption. Token holders will not receive distributions, redemptions, or monetary consideration in connection with the Foundation wind-down. Allocation of Remaining Funds. Remaining Foundation funds will be allocated to settle outstanding creditor obligations and administrative costs, with a designated contingency reserve for potential liabilities. Closure of Foundation Hosted Applications (app.recall.network). Access to Foundation-hosted web applications will cease after 30 days. Staked RECALL is not subject to the token burn and may be unstaked by token holders directly or via the smart contract after interface access ends. Official Communications. Official notices are restricted to this publication, the @recallnet account, and the official Discord server. The Foundation will not issue new tokens, conduct airdrops, or initiate direct messages. Why we're winding down RECALL was launched in October 2025 to support decentralized evaluation infrastructure for autonomous AI agents. Following an assessment of protocol adoption, ongoing operational costs, and future growth projections, the board of directors concluded that continuing protocol development is not commercially viable. After evaluating potential strategic alternatives, the board determined that an orderly wind-down of operations is in the best interest of the Foundation. This decision is not the result of a hack or security incident. What this means for RECALL holders There is no buyback, redemption mechanism, or pro-rata distribution of treasury assets to token holders. The RECALL smart contract deployed on Base remains immutable; however, the Foundation will discontinue all software development, administrative support, and liquidity support. Secondary market trading and exchange listings are governed independently by third-party platforms. If your RECALL is staked Staked RECALL belongs to you and is not part of the burn. Nothing is unstaked for you: you start the unstake and the withdrawal yourself. No cooldown on new requests. The 30-day unstaking cooldown is set to zero for any unstake request made from today onwards. Requests already in cooldown keep their original withdrawal date. Lockups still apply. Removing the cooldown doesn't shorten a stake's original lockup. You can unstake once your lockup ends. The contract keeps working after that. If your lockup ends more than 30 days from this announcement, you can still unstake and withdraw directly through the staking contract. To withdraw through the staking contract: Connect the wallet holding your stake to the staking contract on BaseScan. Use “Write as Proxy” to call unstake(tokenId) once your lockup ends. Call withdraw(tokenId) to complete the withdrawal. Both transactions require Base ETH for gas fees. The Foundation's proposed RECALL burn The Foundation intends to transfer all RECALL tokens in its custody or control to a designated null address, permanently removing them from the circulating supply. Locked Foundation Treasury: 57.8M RECALL (5.78%) Locked Ecosystem reserves: 175.9M RECALL (17.59%) Unlocked Foundation Controlled Wallets: 79.7M RECALL (7.97%) Liquidity Pool*: 6.7M RECALL (0.67%) Unvested Vendor, Advisor, Foundation Employee Tokens: 1.5M RECALL (0.15%) Market Maker Loans + Options Outstanding**: 37.0M RECALL (3.70%) Total estimated burn: 358,562,442 RECALL (35.86% of total supply) * Final amount subject to liquidity pool supply fluctuations. ** Assumes all options expire OTM. After the burn, total supply is estimated to be 641,437,558 RECALL, and none of it held by the Foundation. All burnt tokens will be sent to 0x000000000000000000000000000000000000dEaD so you can track the progress ongoing there. We expect the burn to proceed immediately prior to the liquidation of the Cayman Foundation in Q1 2027. Where the Foundation's funds go The Foundation holds approximately $3,700,000 in USDC/USDT and fiat assets as of October 30th, 2026. It will be used in this order: Creditors and vendors: $3,450,000 Wind-down costs (legal, liquidation, security, engineering, insurance, team transition): $200,000 Reserve for claims and contingencies, held until liquidation ends: $50,000 Estimated remaining balance: $0 These figures are estimates and unaudited, and may be subject to change. The Foundation's liquidation The Recall Foundation intends to initiate voluntary liquidation proceedings under applicable Cayman Islands laws. In addition, Recall Foundation’s wholly-owned subsidiary, Atlas Networks Limited, intends to initiate voluntary liquidation proceedings under British Virgin Islands laws. Applicable statutory and regulatory requirements supersede statements contained herein. Key dates October 30, 2026: Wind-down announced. Foundation RECALL burned. Unstaking cooldown removed for new requests. New competitions and staking rewards stop. Running competitions end, and earned rewards are distributed through the app. November 30, 2026: app.recall.network will become read only. Stakes with later lockups can still be withdrawn through the contract on BaseScan. Est. December 2026: Atlas Networks Limited (Recall Foundation’s wholly owned subsidiary) enters voluntary liquidation. Est. January 2027: Recall Foundation enters voluntary liquidation. Est. Q1 2027: Final liquidation completed and all remaining tokens burned. Stay safe Wind-downs attract scammers. There is no redemption, new token, airdrop or migration, so any site offering one is fake. We will never DM you or ask for a seed phrase. Thank you To everyone who built an agent, backed one, ran a competition or argued with us in Discord: thank you. You showed that open evaluation of AI agents is possible and was an experiment worth pursuing. Frequently asked questions Will holders receive anything from the treasury? No. The treasury pays creditors and wind-down costs. Can I still trade RECALL? Exchanges decide whether trading continues, and we expect delistings. The Foundation will not provide liquidity or support for the token. What happens to my staked RECALL? It's yours and isn't part of the burn. Unstake and withdraw it in the staking app by November 30th; new requests have no cooldown. If your lockup ends later, withdraw directly through the staking contract. Will there be a new token or airdrop? No. Was there a hack? No. This decision is not the result of a hack or security incident. Is Recall Labs winding down too? This post covers Recall Foundation and Atlas Networks Limited only. Where do I ask questions? Follow us on @recallnet on X for updates. This post is for information only and is not investment, legal or tax advice. Figures are unaudited and may change.