Balancer, a decentralized exchange and automated market maker, has proposed winding down after its post-exploit restructuring failed to generate sufficient revenue, with CEO Marcus Hardt acknowledging he underestimated how much a $128 million exploit in November would continue to weigh on adoption. The protocol’s monthly revenue fell from $1.13 million in October to $371,000 in November, then to just $56,781 in August 2026. The proposal calls for a phased shutdown starting next month and distribution of the remaining treasury, currently worth over $9 million, to BAL tokenholders. The snapshot vote is scheduled for September 25 to 29, with the first distribution planned for May 2027.
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