Blockchain project Kadena officially declared the termination of its operations and the shutdown of all business activities. According to the official statement, the decision is driven by current market conditions, which make it impossible to continue the development and promotion of the network.
“We regret to inform you that Kadena can no longer continue operating and is immediately ceasing all business activity and blockchain support,” the statement reads.
The team thanked community members and partners, noting that a small staff will remain temporarily to handle organizational and transitional matters.
The Network Will Remain Autonomous
The company emphasized that the Kadena blockchain is not dependent on centralized management and will continue functioning as a fully decentralized network. According to the team, miners will be able to maintain the protocol independently, while smart contracts and applications will remain under the control of their developers.
To ensure uninterrupted operation, a node software update will be released that does not require the company’s involvement. Developers recommend that all node operators upgrade as soon as the new binary file becomes available.
The KDA Token Will Remain in Circulation
Despite the company’s shutdown, the KDA token and the Kadena ecosystem will continue to exist. According to the latest tokenomics report, over 566M KDA remain in circulation and will continue to be distributed as mining rewards until the year 2139. An additional 83.7M KDA are scheduled to be unlocked by November 2029.
Following the announcement, the token’s price dropped by nearly 59%, reaching $0.08715.
