In a series of posts on the social network X, Clockwork founder Nick Garfield stated that he and his team will stop active development of the protocol, and the main infrastructure nodes will be turned off on October 31st. He noted that the project has a lot of additional costs, but the commercial interest in the service is low. Therefore, the team has a growing interest in exploring other possibilities.
The Clockwork protocol allows you to schedule transactions on the Solana network. In addition, the service is used to create smart contracts that will be executed when a certain event occurs. The project received $4 million in funding last year.
According to Garfield, the project’s code will remain open and available. He gave his “full approval” to use the code in other projects and to develop Clockwork itself, if anyone is interested.
“Developers can continue to use the software as it is, but as of October 31, we will be shutting down our main and developer network nodes. On-chain programs will be frozen, and the code will remain open and will be available for a free fork on GitHub,” said the founder of the project.
In July, the decentralized finance project Algofi, on which 55% of the assets blocked in the Algorand network are concentrated, announced the termination of operations and the transition to the withdrawal of user funds.
Source: Bits
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