Once a team is archived, you will no longer be able to create OKRs/projects under that team and users will no longer be a part of the team. Additionally, any sub-teams will then become independent teams in Ally. All OKRs that were previously assigned to the archived teams will still be accessible and all actions can be performed on those OKRs as expected, including check-ins.
Even though you will not be able to see the team under All Teams now, you can see the assigned OKRs on expanding the parent OKRs they’re aligned to. You will also be able to view these OKRs/projects in the Explorer by applying the type filter and selecting the archived team name.
However, the activities related to the specific team will be halted like assigning team members, team level notifications, etc. which can easily be resumed at any point by unarchiving the team, if required.
You can read more about archiving and deleting teams here.