Kadena Blockchain Shuts Down After Years of Market Battles - Final Chapter for Struggling Protocol
Another crypto project bites the dust as Kadena officially pulls the plug.
The End of the Road
Years of development couldn't save this blockchain from market realities. Teams scattered, funding dried up, and now the final servers are going dark. Another reminder that building tech is one thing - building sustainable value is entirely another.
Market Lessons
While Kadena promised scalability and security, the market demanded adoption and revenue. The protocol couldn't deliver either at scale. Developers moved to greener pastures, users found better alternatives, and investors watched their positions evaporate.
Just another day in crypto land - where billion-dollar ideas meet million-dollar mistakes and thousand-dollar reality checks. At least the venture capitalists got their tax write-offs.
Kadena’s Shutdown and Remaining Network Operations
Kadena confirmed that its proof-of-work blockchain will continue running until miners and maintainers fully exit the network. However, all business operations and technical support have stopped immediately. The team noted that around 566 million KDA remain to be distributed as mining rewards through 2139.
Kadena was started in 2020 by two former JPMorgan executives, Stuart Popejoy and William Martino. Their goal was to build a blockchain that offered Bitcoin’s strong security while matching Ethereum’s speed and flexibility. The company positioned itself as “the blockchain for business” and once claimed it could outperform both Bitcoin and Ethereum. Moreover, the team established a $100 million developer grant fund in 2022 to attract Web3 builders.
From Ambition to Decline
Kadena began with a lot of promise but soon lost its pace. Trading on its network stayed much lower than other big crypto projects, and even a big hiring effort in 2024 couldn’t change that. The total value of assets on its blockchain reached around $9 million in early 2022, a small number compared to larger blockchains.
Earlier this year, CEO Stuart Popejoy promoted the Leap Grant Program—a $50 million ecosystem initiative, but its execution remains unclear. The organization said it will consult the community on handling locked and unmined tokens.
Kadena’s downfall shows that great technology alone isn’t enough to survive in crypto. When market pressure builds and users MOVE on, even promising projects can crumble. It’s a reminder that success in this space depends as much on real-world traction as on innovation.
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