Balancer proposes protocol wind-down and treasury distribution

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Balancer governance has proposed winding down the DeFi protocol and distributing its remaining treasury assets to eligible BAL holders.

The proposal, submitted by treasury council member and former Balancer Labs CEO Marcus Hardt, would end new business development, gradually shut down the protocol and wind down the DAO.

It would also cancel an approved BAL buyback plan. Instead, treasury assets worth at least $9 million would be distributed pro rata and in kind to BAL holders who burn their tokens.

Other DAO wallets and positions would first be consolidated into the treasury and included in the initial redemption round. BAL held by the treasury would be excluded, with a limited exception for holders of tetuBAL, a liquid staking token.