A treasury council member moved to wind down Balancer, return treasury to BAL holders, capping five years of the veteran DeFi protocol.

The plan, put forward by council member and former Balancer Labs CEO Marcus Hardt, would halt business development, sunset the protocol in phases and legally close the DAO. Holders who burn BAL would receive a pro-rata, in-kind share of the treasury, which holds at least $9M in tokens.

A Snapshot vote runs September 25 to 29. If it passes, pools move to withdrawals-only by October 30, the first redemption window opens in late May 2027, and a final distribution follows roughly six months later.

The proposal also scraps a previously approved BAL buyback. It marks a quiet end for a DeFi pioneer that never fully recovered from a $128M exploit in November 2025, with Hardt conceding that a restructuring approved in April failed to bring sustained revenue.

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