The Kadena project team reported that it can no longer continue operations and "immediately ceases all business activities." The reason for the closure is cited as market conditions that no longer allow for the support of development and implementation of the solution. Employees have already been informed about the cessation of work. A small team has been left to complete operations.

The team promises to provide a new build (binary file) that will ensure the stable operation of the network. Node operators are advised to update as soon as possible.

Additionally, in #Kadena , with reference to the tokenomics update, it was noted that over 566 million $KDA are still subject to distribution as mining rewards until the year 2139. Another 83.7 million KDA will be gradually unlocked by November 2029.

After this news, the KDA token crashed by approximately 60% in a short time.

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