Balancer Proposes Full Wind‑down and Treasury Distribution to BAL Token Holders

TL;DR

• Balancer published a proposal to shut down the protocol and distribute its treasury, valued at at least $9 million, among BAL holders.
• Marcus Hardt, former CEO of Balancer Labs, presented a plan that includes canceling the token buyback and a two-round redemption scheme.
• The Snapshot vote is scheduled between September 25 and 29; until then, the protocol continues operating without changes.

Balancer has published a governance proposal calling for the orderly shutdown of the DeFi protocol and the proportional distribution of its treasury among holders of the native BAL token who choose to burn their positions.

The initiative was presented by Marcus Hardt, treasury council member and former CEO of Balancer Labs, and would mark a definitive breaking point for one of the most important decentralized liquidity protocols in the Ethereum ecosystem.

A proposal to wind down Balancer and distribute the treasury to BAL holders is live on the forum, authored by Marcus Hardt. Discussion is open; a Snapshot vote is expected to happen from 25 to 29 September.

… Continue reading the full article at the original source below.