Balancer CEO Marcus Hardt proposed winding down the protocol and distributing its remaining treasury of more than $9 million to BAL tokenholders. The proposal follows a $128 million exploit in November 2025 that continued to weigh on adoption. The plan would begin a phased shutdown next month and set aside up to $400,000 for the process. BAL holders would vote on the proposal from Sept. 25 to 29.