Solana startup Clockwork to shut down

  • Clockwork is a Solana-based smart contracts automation tool that raised $4 million from Multicoin and other investors.
  • The Devnet and mainnet nodes will be frozen on October 31.

Solana ecosystem platform Clockwork is shutting down its nodes on Devnet and mainnet on October 31, founder Nick Garfield announced on Sunday.

The smart contracts project, which raised $4 million from investors in a round led by Multicoin Capital, however says the code remains open-source for any developer looking to fork it.

Clockwork was initially conceived out of a need for an on-chain automation primitive. To that end, the team and I feel successful in completing our original mission and proud of the adoption it has seen. Ultimately the reason we are stepping away now is simple opportunity cost. We admittedly see limited commercial upside in continuing to develop the protocol, and have a growing personal interest to explore new opportunities,” Garfield noted.

Clockwork’s automation tooling was designed to enable smart contracts functionality for payroll payments and such other transactions. Commenting on what’s next for the project, Garfield explained:

For those who currently rely on Clockwork, we will do what we can to ensure continued service. Understand this process is an accelerated transition to full decentralization. Its success will depend on you and the will of the Solana community.”

Clockwork users looking to migrate to other platforms can look at projects such as the oracle as a service protocol Switchboard, RPC platform Helius and no-code automation service triggr.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.