Kadena Organization to Shut Down as KDA Token Value Falls

Kadena Organization to Shut Down as KDA Token Value Falls

Kadena’s core team announced its immediate closure, triggering KDA’s plunge to multi-year lows while the blockchain transitions to fully community-driven governance and maintenance.

Fact Check
The assessment of the statement is complex due to the existence of two distinct entities named 'Kadena' in the provided sources: Kadena Air Base and the Kadena blockchain company. The evidence is conflicting, but the weight of direct evidence supports the conclusion that the statement is likely true.The most critical piece of evidence is Source 9, a news report from a cryptocurrency outlet, which directly and explicitly states that the company behind the Kadena network is closing. This source has the highest possible relevance (1.00) and high authority (0.80), making it a powerful piece of affirmative evidence.Further supporting this, albeit for a different entity, Source 8 confirms that a component of the Kadena Air Base organization—the Officers' Club—is shutting down. While this does not mean the entire base is closing, it does mean a part of a 'Kadena Organization' is ceasing operations, lending partial truth to the broad statement.However, there is significant and high-quality counter-evidence. For the Kadena blockchain, multiple official primary sources (Sources 2, 3, 4, 5, 6) from the company itself point to continued and future operations. This includes a 2025 roadmap, a partnership announced in mid-June 2024, and planned events for October 2024. For the Air Base, its official website and hiring portal (Sources 1, 7) show it is fully operational.Despite the strong contradictory evidence from the company's own website, the direct claim in Source 9 that the company announced it is closing is the most specific and impactful evidence provided. It is plausible that an organization's official website might not immediately reflect a decision to shut down. Therefore, weighing the direct assertion of closure in a high-relevance source against the circumstantial evidence of continued operation, the statement is assessed as 'likely_true'.
Summary

The Kadena team declared it will cease all business operations immediately due to unsustainable market conditions, but the Kadena blockchain will remain online under its decentralized proof-of-work model, maintained by independent miners and developers. KDA’s price collapsed over 60% within the week, hitting $0.08, its lowest since mid-2020, erasing nearly five years of gains. The organization plans to release a new binary ensuring autonomous network function, with more than 566 million KDA still allocated for mining rewards until 2139 and 83.7 million locked tokens set to be gradually released by 2029. The shift leaves the network’s future in the hands of its community amid severe investor confidence loss.

Terms & Concepts
  • Kadena: A blockchain platform designed for scalability and smart contract execution, founded by former JP Morgan technologists.
  • KDA Token: The native cryptocurrency of the Kadena blockchain, used for transactions, mining, and network operations.
  • Proof-of-Work: A consensus mechanism requiring miners to solve complex computational problems to validate transactions and secure the blockchain.