Kadena public chain announces suspension of operations, KDA drops over 60% in 24 hours

ChainCatcher news, the public chain project Kadena announced that due to unfavorable market conditions, it will begin liquidation and cease all business and public chain maintenance effective immediately, retaining a small team to handle the transition and shutdown period.

The KDA token and protocol will continue to operate, with over 566 million KDA to be distributed as mining rewards until the year 2139. The 83.7 million KDA issued by the platform will be unlocked in November 2029, and the PoW chain will continue to operate until miners and maintainers exit. According to OKX market data, KDA is currently priced at $0.088, with a 24-hour decline of 60.3%.