Balancer wind-down proposed as post-exploit revenue fails to recover

Balancer has proposed shutting down its decentralized exchange protocol and returning more than $9 million in remaining treasury assets to BAL holders after its post-exploit operating plan failed to generate enough revenue. Summary Balancer has proposed winding down the protocol after its post-exploit restructuring failed to generate enough revenue. The remaining treasury, currently worth more than $9 million, would be distributed to BAL holders through a phased process. Protocol revenue fell from $1.13 million in October 2025 to $371,000 in November following the $128 million exploit and reached $56,781 in August. Liquidity providers would have until Oct. 30 to prepare their exits before Balancer moves to minimal withdrawal infrastructure from Nov. 1. BAL holders are scheduled to vote on the wind-down proposal from Sept. 25 to Sept. 29. Balancer Labs CEO Marcus Hardt laid out the plan in a governance proposal published Monday, saying the protocol delivered the products promised under a leaner structure adopted earlier this year but did not bring in enough revenue to sustain operations. The proposal would begin a phased shutdown in October before reducing Balancer to the infrastruc...