The Recall Foundation said on Friday it will shut down and burn about 358.6 million RECALL tokens, 35.86% of the 1 billion supply, and that token holders will get nothing back. RECALL fell 17% within two minutes of the announcement on Binance’s futures market. On Saturday evening it traded about 9% below its price before the post.
The Recall Foundation’s board said in a post on X at 18:25 UTC that continuing development of the protocol is “not commercially viable”. It said the decision was not the result of a hack or a security incident. Recall Labs, a separate company, is not part of the wind-down.
What do RECALL holders get?
No cash. The Recall Foundation said there will be no buyback, no redemption and no share of its treasury. Its roughly $3.7 million in stablecoins and cash goes first to creditors and vendors, who are owed $3.45 million. Wind-down costs take $200,000 and $50,000 is held back for claims. That leaves an estimated zero, on unaudited figures.
Staked tokens are not part of the burn, but holders have to withdraw them on their own. The usual 30-day wait to unstake has been set to zero for new requests, and the foundation’s app becomes read-only on 30 November. A stake whose lock-up ends later can still be withdrawn through the staking contract on Base, which needs a little ETH for fees. The foundation also warned that no new token, airdrop or migration is planned, so any site offering one is a scam.
What is being burned, and has it happened yet?
The burn covers 358,562,442 RECALL that the Recall Foundation holds or controls. The largest part is 175.9 million in locked ecosystem reserves, followed by 79.7 million in unlocked foundation wallets and 57.8 million in the locked treasury. Another 37 million is tied to market-maker loans and options, 6.7 million sits in a liquidity pool and 1.5 million is unvested pay for vendors, advisers and staff. Supply would fall to about 641.4 million.
The post gives two timings. Its list of key dates says the foundation’s RECALL was burned on 30 October, while the burn section says the burn will happen just before the foundation is liquidated in the first quarter of 2027. The burn address the foundation named holds 86.59 RECALL on the Base network, from eight small transfers, the latest about ten days ago. The token contract still reports a total supply of 1 billion.
How exchanges and the price reacted
The Korean exchange Bithumb named RECALL a trading-caution asset on Saturday, 31 October, citing the foundation’s plan to end operations. It halted RECALL deposits from 07:30 Seoul time, which is 22:30 UTC on Friday. Bithumb said it will announce whether to extend the label, lift it or end trading support in the week of 9 to 13 November.
The Recall Foundation said exchanges decide on their own whether to keep RECALL listed and that it expects delistings. It will provide no liquidity or support for the token. Binance offers RECALL as a futures contract but has no spot market for it, much like Quack AI.
RECALL stood at $0.0341 on Binance’s futures market a minute before the post. Within two minutes it touched $0.0282, down 17%, while $1.4 million changed hands, against less than $1,000 a minute just before. It was back near $0.033 by midnight UTC after Bithumb’s halt began, then eased to $0.0311 on Saturday evening. CoinGecko lists RECALL at about 3 cents, with a market value near $8.9 million.
The futures market in RECALL is small. Open interest, the value of futures positions still open, is about $1.2 million, and funding was slightly positive at 0.028% at the last reading. Small tokens can move far ahead of spot on futures alone, as STX did on Saturday.
A one-hour close back above $0.0341 would erase the whole drop. A move under $0.0282 would set a new low since the announcement. The dates that matter for holders are 9 to 13 November, when Bithumb says it will decide, and 30 November, when the Recall Foundation’s app turns read-only.
