Karma3 Labs, the developer team behind the decentralized reputation protocol OpenRank, will shut down and stop development after three and a half years, according to founder Sahil Dewan.
According to PANews, Dewan said remaining capital will be returned to investors, and all code, protocols, documentation, and learning materials will be open-sourced. He added that the project’s GitHub repositories will be archived and remain permanently public.
Dewan said OpenRank generated reputation scores for more than 10 million on-chain users, facilitated more than $50 million in incentive distributions, and supported over 50 integrations.
He said the team was unable to find a company model capable of compounding growth, adding that a correct thesis does not automatically translate into a scalable business. Dewan also said infrastructure needs to be anchored in users’ existing workflows rather than relying on the market to adopt future behaviors.
OpenRank Developer Karma3 Labs to Shut Down and Open-Source Protocol, Founder Says
2026-06-16 08:34:25
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