Overview
- The governance proposal was posted to Balancer’s forum on Monday, Sept. 14, and asks BAL token holders to approve replacing a previously approved buyback with a burn-to-redeem process.
- If approved, pools able to be paused would move to withdrawals-only on Oct. 30, contributor work would end on Oct. 31, and the claim process would open no earlier than end-May 2027 when veBAL locks expire.
- The plan cancels the earlier BIP-919 buyback, estimates the DAO’s managed treasury at roughly $9 million for distribution, and sets a capped winddown budget of up to $400,000 to fund the transition.
- Recovered funds from the November 2025 exploit are to be excluded and reserved for affected liquidity providers, and wrapped or locked BAL positions face conversion or timing rules to qualify for redemption.
- The vote forces a choice between continuing a loss-making operation that drains the treasury and a structured exit that preserves remaining assets for token holders while requiring LPs to withdraw by the October deadline.