Overview
- Balancer CEO Marcus Hardt posted a governance proposal on Sept. 14 that asks BAL holders to approve an orderly wind-down and a plan to distribute the managed treasury to token holders.
- A Snapshot vote is scheduled for Sept. 25–29 to decide whether to cancel the previously approved buyback and replace it with a burn-to-redeem mechanism that lets holders destroy BAL for a pro‑rata share of the treasury.
- If the plan passes, pools that can be paused will move to withdrawals-only on Oct. 30 and Balancer will retain only the infrastructure needed to process withdrawals from Nov. 1 while contributor work ends on Oct. 31.
- The proposal estimates the managed treasury at more than $9 million subject to an audit and inventory, sets capped wind-down reserves (roughly $150,000 through May 2027 and up to $400,000 overall), and excludes recovered exploit funds that will be returned to affected liquidity providers.
- Distributions would be phased with the first redemption window set for the end of May 2027 to align with expiring veBAL locks, and holders who redeem in the first round would be eligible for any later airdrops and a final sweep.