Balancer has proposed a phased winddown of its operations following a failed restructuring. Revenue collapsed from over $1 million in October 2025 to under $60,000 in August, while monthly burn stands near $150,000, after an November exploit drained $128 million from v2 pools. Despite launching v3 with AutoRange Pools, the protocol failed to replace lost revenue from the older v2 contracts. The DAO treasury holds at least $9 million at current prices, with a two-round distribution plan starting May 2027. Snapshot voting runs September 25-29 with a quorum of 5 million BAL required for passage.
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