Burning 35.86% of the tokens is not good news this time. At 02:25 Beijing time on October 31st, @recallnet announced the orderly shutdown of the Recall Foundation. RECALL, launched in October 2025, was a decentralized evaluation tool for AI agents. The board's reasoning was straightforward: considering adoption rates, operating costs, and growth expectations, continued development was commercially unfeasible. The official statement specifically clarified that this was not a hack. The financial statements are as follows: Approximately 358.6 million RECALL tokens controlled by the foundation are planned to be burned, representing 35.86% of the total supply. As of October 30th, approximately $3.7 million in cash and stablecoins remained. $3.45 million was allocated to creditors and suppliers, $200,000 was used for shutdown costs, $50,000 was reserved as a reserve, and the remaining balance is expected to be zero. There have been no buybacks, no redemptions, and no proportional distributions to token holders. Starting November 30th, the application will be read-only; staked tokens must be unstaking and retrieved manually. This announcement succinctly clarifies one point: tokens are not equity. In company liquidation, shareholders are behind creditors, but at least they're still in the queue. Here, token holders are not in the queue. Many tokens were issued in the AI agent sector this year. What's worth monitoring next is how those projects whose revenue can't cover costs will be listed when they exit the market. Additionally, the announcement uses two different dates for the burn date: one says October 30th, and the other says before liquidation in Q1 2027. The on-chain dEaD address is the determining factor. https://(x.com)/recallnet/status/2116234988601704457