Hats Protocol, a DAO application for Web3 teams, said it will shut down its parent company, Haberdasher Labs, and transition Hats Protocol into a public product.
According to Foresight News, the project said it was founded on the belief that more organizations will operate online and will need infrastructure to address accountability, authorization, and related management issues.
Hats Protocol said that during development, the team concluded the problem was more complex than expected, extending into broader areas such as organizational structure and governance. It said the project ultimately did not achieve commercially sustainable network effects and revenue.
The project said its smart contracts will remain unchanged, and users can continue using them without migrating or taking any action. It added that its full technology stack is now open-sourced, allowing users to deploy it independently or build on it.
Hats Protocol said it will keep its hosted resources online until the end of the year.
Hats Protocol to Close Haberdasher Labs and Shift to a Public Product Model
2026-06-24 15:33:50
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