Solana-based smart contract automation protocol, Clockwork, is set to shut down by the end of October due to what its founder, Nick Garfield, describes as a „limited commercial upside.” The decision underscores a growing trend of closures within the Solana ecosystem.
Clockwork’s impending closure is not an isolated event within the Solana ecosystem. Earlier this year, the decentralized finance (DeFi) platforms Friktion and Everlend Finance also closed their doors. Notably, Cardinal, another Solana-based nonfungible token (NFT) protocol, also announced its wind-down in late June, citing economic conditions despite having raised $4.4 million around a year earlier.
In a series of posts on X (formerly Twitter) dated Aug. 27, Garfield stated that active development on Clockwork will cease and that the protocol’s nodes on both the devnet and mainnet will be deactivated as of Oct. 31. The move comes as the Clockwork team weighs the „simple opportunity cost” of continuing the protocol against
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