Latest News

Clockwork’s Farewell: The Solana Smart Contract Project Will Close in October

In an unexpected turn of events, the brains behind the brilliant Solana-based innovative contract automation program, Clockwork, have revealed their decision to remove critical platform infrastructure. The coming closure, slated for the end of October, has piqued the interest and excitement of the crypto world. What is the reasoning behind this daring move? The developers claim the protocol’s “limited commercial upside” influenced their brave move.

Clockwork’s creative founder, Nick Garfield, disclosed the project’s impending halt in active development in a series of dramatic tweets on August 27. The team plans to turn off nodes on both the devnet and mainnet by October 31, which will send ripples throughout the blockchain realm.

Garfield revealed candidly that the motivating cause behind this seismic shift was the “simple opportunity cost.” The minds behind Clockwork openly stated that the venture’s commercial potential was limited, prompting them to turn decisively toward other appealing alternatives that had piqued their interest.

Clockwork, for unfamiliar people, is a novel technology that allows users to plan transactions within the Solana network easily. The protocol goes beyond simple transactional capabilities by enabling the generation of smart contracts that are organically automated. These contracts come to life when particular events occur, taking the realm of decentralized apps to a new level of efficiency.

Garfield assuaged devotees’ fears by stating that the code underlying Clockwork will stay freely available online in its open-source form. He went a step further, urging potential developers to “fork and ship,” guaranteeing that Clockwork’s pioneering spirit continues in the hands of the curious and imaginative.

This announcement follows Clockwork’s successful seed investment round last August, which saw a $4 million infusion. The investment was co-led by prominent venture firms Multicoin Capital and Asymmetric, with participation from Solana Ventures adding to the project’s visibility.

Garfield’s ambiguous response to the pressing topic of whether the invested seed money will be reimbursed. While stating that a significant percentage of the cash will be retained, he hinted at the deliberative process preceding the final decision.

Clockwork’s demise follows a pattern in the Solana ecosystem, with other protocols such as the decentralized finance (DeFi) haven Friktion and its rival Everlend Finance also failing earlier this year. Similarly, Cardinal was shut down in the Solana-based non-fungible token (NFT) space despite receiving a remarkable $4.4 million financing just a year before.

As the clock approaches Clockwork’s anticipated departure, the crypto industry is left to wonder: Will this strategic maneuver ignite new paths of creativity for developers, or will it serve as a monument to the fickle nature of decentralized technologies?


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.