BAL holders approved Balancer shutdown
🔈 BAL holders supported the phased shutdown of Balancer — the proposal was approved with 99.2% of votes, or about 17.2 million BAL.
📊 Until October 30, the protocol will continue operating as usual, after which some pools will be switched to the withdrawal mode. Users will be able to retrieve their assets even after active support ends, since Balancer contracts are non-custodial.
✍️ In May 2027, distribution of the remaining treasury will begin: holders will be able to burn BAL and receive a proportional share of the assets. At the time of the proposal, the treasury was valued at at least $9 million.
🔗 The shutdown was attributed to the lack of sustainable revenue. An additional factor was the 2025 hack, after which the protocol lost about $128 million.
📊 At the same time, Abracadabra is voting on a possible shutdown of the lending protocol and the stablecoin MIM. Its obligations are estimated at roughly $21 million, with available collateral of about $900,000.
📈 Trading on ByBit 🤖 Boosting my deposit on Dragonfly
📱 YouTube 📱 TikTok
🔈 BAL holders supported the phased shutdown of Balancer — the proposal was approved with 99.2% of votes, or about 17.2 million BAL.
📊 Until October 30, the protocol will continue operating as usual, after which some pools will be switched to the withdrawal mode. Users will be able to retrieve their assets even after active support ends, since Balancer contracts are non-custodial.
✍️ In May 2027, distribution of the remaining treasury will begin: holders will be able to burn BAL and receive a proportional share of the assets. At the time of the proposal, the treasury was valued at at least $9 million.
🔗 The shutdown was attributed to the lack of sustainable revenue. An additional factor was the 2025 hack, after which the protocol lost about $128 million.
📊 At the same time, Abracadabra is voting on a possible shutdown of the lending protocol and the stablecoin MIM. Its obligations are estimated at roughly $21 million, with available collateral of about $900,000.
📈 Trading on ByBit 🤖 Boosting my deposit on Dragonfly
📱 YouTube 📱 TikTok
