BlockBeats News, March 18th, according to official sources, DAO governance platform Tally (@tallyxyz) announced on the X platform that the company will not proceed with its original ICO (Initial Coin Offering) plan and will officially shut down after over 5 years of operation.
The core reasons include that although the original ICO plan has gone through almost all the processes, the team believes that it is unable to fulfill its promises to token holders in the current market environment. At the same time, the entrepreneurial market for governance tools has not matured, the crypto industry mainly matches in the payment and speculation fields, and the “infinite garden” decentralized protocol ecosystem and the large-scale governance demand have not appeared as expected.
The official statement said that Tally has achieved significant results in its five years of operation, processing payments over $1 billion, protecting asset value over $80 billion, serving over 1 million users and hundreds of organizations, enabling tens of millions of token holders to participate in governance through the platform, and has never experienced a major security incident despite facing multiple challenges such as DDoS attacks and regulatory pressures.
Regarding the follow-up arrangements, the governance application will start to gradually shut down at the end of this month; enterprise customers already have continuity plans, while small organizations need to pay attention to announcements for migration. Outstanding team members are actively seeking new opportunities, and recruiting parties are welcome to contact.
Tally’s founder stated: “We were once part of the crypto story, and I believe in crypto more than ever.”
