Balancer Proposes Orderly Shutdown Protocol, Plans to Distribute at Least $9 Million from DAO Treasury to BAL Holders
- Balancer community has proposed an orderly shutdown protocol to wind down the protocol in a structured manner, including ceasing new business development and closing the DAO where feasible.
- The DAO treasury, currently valued at at least $9 million, will be distributed in kind proportionally to BAL holders through a multi-phase process beginning in May 2027.
- The proposal cites protocol challenges including failed v3 adoption, key personnel losses, and a November 2025 vulnerability exploit affecting v2 pools, arguing that continuing current operations would only deplete remaining treasury funds.
- A Snapshot vote on the shutdown proposal is scheduled for September 25-29, with contributor notice period extending to October 31, 2026, and pools becoming withdrawal-only on October 30.
Balancer has proposed an orderly shutdown protocol for community consideration. The protocol outlines a structured wind-down process involving cessation of new business development, phased protocol termination, and DAO closure where applicable. The BIP-919 buyback will be canceled and BIP-687 will be replaced under this proposal.
The DAO treasury, valued at a minimum of $9 million, will be distributed proportionally to BAL holders through a staged distribution process. The first distribution round begins at the end of May 2027, with holders burning BAL tokens to receive their treasury share. A second distribution round will occur as an airdrop within two months following the cutoff, with final liquidation taking place six months later. Contributors will receive notice through October 31, 2026, and all pools will transition to withdrawal-only status on October 30.
The proposal attributes the shutdown decision to several factors: v3 has failed to close the revenue gap despite being live, with protocol revenue still primarily derived from v2. The protocol has experienced key personnel departures and growth shortfalls. Additionally, a vulnerability exploit in November 2025 affected v2 pools, further complicating user acquisition efforts. The proposal argues that the remaining treasury should be returned to holders while funds remain substantial, rather than being depleted through continued operations under current conditions.
A Snapshot vote on the proposal is scheduled for September 25-29.
Balancer提议有序关闭协议 计划向BAL持有者分配至少900万美元DAO金库资金
Balancer提议了一项有序关闭协议供社区考虑。该协议概述了结构化的风险缓释流程，包括停止新业务开发、分阶段终止协议运营以及在可行情况下关闭DAO。根据该提议，BIP-919回购将被取消，BIP-687将被替换。
DAO金库估值至少900万美元，将通过分阶段分配流程按比例分配给BAL持有者。首轮分配于2027年5月底开始，持有者通过销毁BAL代币来获得其金库份额。第二轮分配将在截止日期后两个月内以空投形式进行，最终清算将在六个月后进行。贡献者将收到通知至2026年10月31日，所有池将于10月30日转变为仅提现状态。
该提议将关闭决定归因于多个因素：尽管v3已上线，但未能缩小收入差距，协议收入仍主要来自v2。协议经历了关键人员流失和增长不达预期。此外，2025年11月的漏洞利用影响了v2池，进一步复杂化了用户获取工作。该提议主张在资金仍然充足的情况下将剩余金库返还给持有者，而不是在当前条件下继续运营而被耗尽。
关于该提议的Snapshot投票定于9月25-29日进行。