Decentralised governance solution Tally will cease operations after 5 years, The Block reported on March 17 local time.
Tally worked with major Ethereum-based applications such as Uniswap and Arbitrum and supported payment flows of more than $1 billion, but failed to secure sustainability amid market changes, The Block said.
Tally initially pursued an ICO but decided to stop because the market environment was not suitable. CEO Denison Bertram said, "I was not confident I could deliver on promises to token holders."
Tally supported a range of protocols and communities based on Ethereum's "infinite garden" vision, but ultimately will close its doors.
Talling will begin the shutdown process from late March and plans to work with corporate clients to prepare a soft landing. Bertram added, "Tally contributed to crypto history, but did not find a sustainable business model."
Chi-gyu Hwang
delight@d-today.co.kr