Tally announces it will shut down operations and abandon its ICO plans

CryptoWorld News: On March 18, according to official sources, DAO governance platform Tally (@tallyxyz) issued a statement on X, announcing that the company will not proceed with the originally planned ICO (Initial Coin Offering) and will officially shut down after more than five years of operation. The main reasons include that although the original ICO process was nearly completed, the team believes that the current market environment makes it impossible to fulfill promises to token holders. Additionally, the startup market for governance tools is not yet mature, and while the crypto industry mainly focuses on payments and speculation, the “Infinite Garden” decentralized protocol ecosystem and large-scale governance needs have not materialized as expected.

The official statement notes that Tally has achieved significant milestones over five years, processing over $1 billion in payments, protecting assets worth over $80 billion, serving more than 1 million users and hundreds of organizations, with tens of millions of token holders participating in governance. The platform has endured multiple challenges, including DDoS attacks and regulatory pressures, but has never experienced a major security incident.

Regarding future plans, governance applications will gradually shut down starting at the end of this month; enterprise clients have continuation plans, while small organizations should monitor announcements for migration instructions. The team’s talented members are actively seeking new opportunities, and recruiters are welcome to contact them. Tally’s founder stated, “We were part of the crypto story, and I believe in crypto more than ever.”