Balancer holders vote to wind down protocol

Balancer token holders have approved BIP-928 to shut down the protocol, with 99.2% of the vote in favor. Operations will continue normally until October 30, after which most pools will be transitioned to withdrawal-only mode. The protocol, which suffered a $128 million hack in 2025 and faces declining revenue, plans to distribute its remaining treasury—estimated at approximately $280,000,000 (based on a $9 million valuation)—to BAL holders starting in May 2027.