Kadena Shuts Down Operations – Team Confirms Immediate Cease Of All Activities

Kadena, a blockchain project, announced it would cease all business operations due to market conditions. Despite the closure, the Kadena blockchain will remain operational, maintained by the community through its proof-of-work structure. The news caused a massive sell-off, with Kadena's native token, KDA, plummeting over 55%. The team will release a new binary for autonomous blockchain function and encourage node upgrades. Over 566 million KDA remain for mining rewards, to be distributed until 2139, with locked tokens gradually released. The Kadena team invited the community to participate in governance and maintenance. This shift towards decentralization puts the network's future in the hands of its users. The price drop wiped out five years of gains, reaching its lowest level since mid-2020. KDA's price now hinges on the community's ability to sustain the network and its narrative.