OpenRank Developer Karma3 Labs to Shut Down and Open-Source Protocol, Founder Says

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.