Balancer token holders have approved a phased shutdown of the protocol, while the Abracadabra project faces a potential closure due to a significant collateral deficit.
Balancer community members will vote on a proposal to shut down the protocol and distribute $9 million in treasury assets to token holders.
Balancer governance considers a full wind-down of the protocol as monthly revenue fails to cover operating costs following a failed turnaround strategy.
DeFi protocol Balancer has proposed a phased shutdown and treasury distribution to tokenholders after restructuring efforts failed to revive revenue following a major exploit.
DeFi protocol Balancer plans to shut down, replacing its buyback program with a mechanism to distribute its $9 million treasury to token holders.
