Solana-based Clockwork to shutter citing ‘limited commercial upside’
Clockwork’s planned closure comes about a year after receiving $4 million in a seed round led by Multicoin Capital. The developers behind Solana-based smart contract automation project Clockwork is set to turn off key infrastructure for the protocol at the end of October, citing “ limited commercial upside ." In a series of X (Twitter) posts on Aug. 27, Clockwork founder Nick Garfield Garfield said he and the team will stop active development of the protocol and on Oct. 31 will turn off its nodes on devnet and mainnet. Garfield cited “simple opportunity cost” as the reason for the team stepping back from Clockwork, admitting there were limited commercial benefits to continuing its development and the team had a growing interest in exploring other opportunities. Clockwork is a protocol that allows users to schedule transactions on the Solana network and create smart contracts automated to run applications when triggered by an event. Garfield said Clockwork’s code will remain ...