The Solana ecosystem project Clockwork team announced the cessation of development, having received $4 million in investments from Multicoin Capital and others

ChainCatcher news, Nick, a former employee of the Solana ecosystem decentralized automation network Clockwork, tweeted that due to opportunity costs and limited business prospects, the Clockwork development team and he have decided to cease development of the protocol. Developers can continue to use the software they have written, but the team will shut down the nodes on Devnet and the mainnet on October 31. On-chain programs will be frozen, the code will remain open source, and it will be freely available on GitHub. If the community is willing to improve the protocol, the team will fully support forks and releases. For users currently relying on Clockwork, the team will do its best to ensure service continuity.

According to the crypto data platform RootData, Clockwork announced the completion of a $4 million seed round financing last August, led by Multicoin Capital and Asymmetric, with participation from Solana Ventures and El Cap Ventures.