Decentralized exchange Balancer is proposing to shut down following a $130 million hack, with BAL token holders scheduled to vote September 25-29 on whether to claim proportional shares of over $9 million in remaining treasury assets or forfeit their claims.
Balancer, a major DeFi protocol, proposed winding down operations and distributing its approximately $9 million treasury to BAL token holders starting May 2027. The proposal would pause pools in October and cancel approved buybacks after the protocol failed to achieve sustainable revenue despite restructuring efforts.
Chaos Labs, a key risk management provider for Aave, announced its departure from the DeFi protocol following disputes over governance and the upcoming V4 upgrade. The exit follows recent departures of other major contributors including BGD Labs and ACI.
