The Solana ecosystem platform, Clockwork, has announced that it will be shutting down its nodes on Devnet and Mainnet on October 31. Clockwork is a smart contracts automation tool that enables functionality for payroll payments and other transactions. The startup raised $4 million in funding from investors, including Multicoin Capital, but has now decided to cease operations due to limited commercial upside and a desire to explore new opportunities.

Despite the shutdown, Clockwork will keep its code open-source for developers who wish to fork the project. Founder Nick Garfield stated, “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.”

Users of Clockwork are encouraged to migrate to other platforms such as Switchboard, Helius, and triggr, which offer similar functionality. The success of the transition to full decentralization will rely on the Solana community and those who currently rely on Clockwork.

Summary:

Solana-based automation tool, Clockwork, is shutting down its Devnet and Mainnet nodes on October 31. The smart contracts project, which raised $4 million in funding, has decided to cease operations due to limited commercial upside and a desire to explore new opportunities. The code will remain open-source, and users are encouraged to migrate to alternative platforms.

FAQs:

What is Clockwork?

Clockwork is a Solana-based smart contracts automation tool that enables functionality for payroll payments and other transactions.

Why is Clockwork shutting down?

Clockwork has decided to shut down due to limited commercial upside and a desire to explore new opportunities.

Will Clockwork’s code remain open-source?

Yes, Clockwork will keep its code open-source for any developer looking to fork the project.

What alternative platforms can Clockwork users migrate to?

Clockwork users can consider migrating to projects such as Switchboard, Helius, and triggr, which offer similar functionality.