Balancer proposes shutdown and $9M treasury return to BAL holders
- —Proposal published on Balancer's governance forum on Monday
- —The protocol's treasury is valued at approximately $9 million
- —The BAL buyback approved in April is canceled in favor of token redemption
- —BAL holders will be able to exchange tokens for treasury assets
Why it matters: The closure of one of the oldest DeFi protocols signals pressure on the sector and sets a precedent for returning funds to holders.
Source: The Defiant