Kadena shuts down, leaving blockchain to run on its own – What about KDA?

Key Takeaways

Is Kadena crypto shutting down completely?

The company is ceasing operations, but its proof-of-work blockchain will continue to run independently via miners and protocol maintainers.

What happens to the KDA token now?

KDA will remain in circulation, with over 566 million tokens still set to be distributed as mining rewards through 2139.

Once considered a rising contender in the blockchain space, Kadena [KDA] is winding down its business operations. The company blamed tough market conditions for the move.

However, its proof-of-work blockchain will continue to operate independently, though miner activity is expected to decline.

Kadena shuts down operations

In an official statement, Kadena announced it is “no longer able to continue business operations,” ceasing all company activity and active maintenance of its blockchain “immediately.”

Source: X

Despite the shutdown, Kadena confirmed that its blockchain will stay operational, supported by miners and community maintainers.

The statement clarified,

“As for the KDA token and protocol, it will also continue in our absence. As noted in our latest token economic update, over 566 million KDA remain to be distributed as mining rewards, continuing until 2139, while the platform emission has 83.7 million KDA coming out of lockup until November 2029.”