嘉手納的路的盡頭？ KDA 代幣因項目放棄而暴跌

Kadena 關閉運營，導​​致 KDA 代幣螺旋式上升。這是結束了，還是社區可以讓這條鏈繼續存在？

Kadena's End of the Road? KDA Token Plummets Amid Project Abandonment

嘉手納的路的盡頭？ KDA 代幣因項目放棄而暴跌

In a dramatic turn of events, Kadena, once hailed as a promising Layer-1 blockchain, has ceased operations, triggering a massive sell-off of its native KDA token. Down 60% and 99% from its all-time high, what does this mean for the future of Kadena and its community?

事態發生了戲劇性的轉變，曾經被譽為有前途的 Layer-1 區塊鏈的 Kadena 已經停止運營，引發了其原生 KDA 代幣的大規模拋售。較歷史最高點下降 60% 和 99%，這對嘉手納及其社區的未來意味著什麼？

The Announcement: Kadena Calls It Quits

公告：嘉手納宣布退出

Citing "unsustainable market conditions" and a lack of a viable short-term trajectory, the Kadena Foundation announced it would halt all operations and active maintenance of the Kadena blockchain. The news sent shockwaves through the crypto market, with the KDA token experiencing a rapid and devastating decline.

嘉手納基金會以“不可持續的市場狀況”和缺乏可行的短期軌跡為由，宣布將停止嘉手納區塊鏈的所有運營和積極維護。這一消息震驚了加密貨幣市場，KDA 代幣經歷了快速且毀滅性的下跌。

Blockchain to Live On? Decentralization to the Rescue?

區塊鏈能否生存？去中心化來拯救？

Despite the foundation's shutdown, the Kadena blockchain itself will continue to operate. As a proof-of-work system, Kadena relies on independent miners to process transactions. The network's smart contracts are maintained by the broader developer community. Kadena's team emphasized that the blockchain is not owned or operated by the company, and this decentralization allows it to live on, even without core team support. The network will continue via independent miners and deployed protocols.

儘管基金會關閉，嘉手納區塊鏈本身仍將繼續運營。作為工作量證明系統，Kadena 依靠獨立礦工來處理交易。該網絡的智能合約由更廣泛的開發者社區維護。 Kadena 團隊強調，區塊鏈不由公司擁有或運營，這種去中心化使其即使沒有核心團隊支持也能繼續存在。該網絡將通過獨立的礦工和部署的協議繼續運行。

What Went Wrong? A Promising Project Falters

出了什麼問題？一個有前途的項目陷入困境

Founded in 2016 by JP Morgan alumni, Kadena launched with ambitious goals. It aimed to combine Bitcoin-level security with Ethereum-style smart contracts, targeting enterprise use cases with its scalable, multi-chain Proof-of-Work design and unique Pact programming language. A $100 million grant program in 2022 attempted to attract Web3 developers, followed by an even bigger $50 million Leap Grant Program in 2024. However, Kadena struggled to gain lasting traction, failing to compete with more developer-friendly platforms like Ethereum and Solana. Kadena's collapse serves as a reminder that even well-funded blockchain ventures can struggle in a rapidly evolving industry. Observers point to a failure to establish a self-sustaining network effect, compounded by a harsh macroeconomic environment.

Kadena 由摩根大通校友於 2016 年創立，其目標雄心勃勃。它旨在將比特幣級安全性與以太坊式智能合約相結合，以其可擴展的多鏈工作量證明設計和獨特的 Pact 編程語言針對企業用例。 2022 年的 1 億美元資助計劃試圖吸引 Web3 開發者，隨後在 2024 年又推出了規模更大的 5000 萬美元 Leap 資助計劃。然而，Kadena 難以獲得持久的吸引力，未能與以太坊和 Solana 等更適合開發者的平台競爭。嘉手納的倒閉提醒人們，即使是資金雄厚的區塊鏈企業也可能在快速發展的行業中舉步維艱。觀察家指出，未能建立自我維持的網絡效應，而嚴峻的宏觀經濟環境更是雪上加霜。

The Future of Kadena: Three Possible Scenarios

嘉手納的未來：三種可能的情況

The future of Kadena is uncertain, but several scenarios are possible:

嘉手納的未來尚不確定，但有幾種可能的情況：

• Scenario 1: The community rallies and successfully maintains and develops the network.
• Scenario 2: The network continues to function in a limited capacity, supported by existing miners, but lacks significant further development.
• Scenario 3: The network gradually declines and becomes obsolete.

What's Next for KDA Holders?

KDA 持有者的下一步是什麼？

If you're holding KDA or building on Kadena, the next few days are critical. Monitor your DeFi applications, wallets, and bridges on the network. Community involvement will be key to Kadena's survival.

如果您持有 KDA 或在 Kadena 上構建，接下來的幾天至關重要。監控網絡上的 DeFi 應用程序、錢包和橋接器。社區參與將是嘉手納生存的關鍵。

CoinLaw’s Takeaway

CoinLaw 的要點

Kadena's story is a familiar one in the crypto world: a project with a strong technical team and a promising model that ultimately fails to achieve lasting traction. The sudden exit of the core team highlights the importance of community and developer support for decentralized networks. Kadena is a strong reminder that decentralization only works when the community steps up.

Kadena 的故事在加密世界中是一個耳熟能詳的故事：一個擁有強大技術團隊和有前途的模型的項目，最終未能獲得持久的吸引力。核心團隊的突然退出凸顯了社區和開發者支持對去中心化網絡的重要性。 Kadena 強烈提醒我們，只有社區挺身而出，去中心化才會發揮作用。

So, is this the end for Kadena? Only time will tell. But one thing is certain: the Kadena saga serves as a cautionary tale for the crypto industry. Let's hope the Kadena community can pull a rabbit out of a hat and keep this chain alive!

那麼，嘉手納的結局就這樣了嗎？只有時間才能證明一切。但有一點是肯定的：嘉手納事件對加密行業來說是一個警示。希望嘉手納社區能變出變通辦法，讓這條鏈條繼續存在下去！