Page History
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This can be a long running task depending on the amount of Xray internal data to handle. Currently, Jira provides no way of knowing the progress of a project archival. However you can use this:
Effects on Issue data tables sections
Whenever an issue is archived it is removed from the Lucene indexes and thus no longer appears on JQL search results. This has impact on some of the Xray issue data tables used to present the associations between issues.