Kadena, an L1 blockchain project, has announced the cessation of all business activities and active blockchain maintenance due to adverse market conditions. The company has informed its employees and retained a small team to manage transition and liquidation processes. Despite halting operations, Kadena emphasized that its decentralized proof-of-work network, operated by independent miners, will continue to function. The network's smart contracts and protocols will remain under the management of their respective maintainers, with mining rewards of approximately 566 million KDA set to be distributed until 2139. To ensure the network's stability, Kadena plans to release updated binary files and has urged operators to upgrade promptly. Following the announcement, the price of KDA fell sharply to $0.088, marking a 60.21% decline in a single day.