[DigitalToday reporter Chi-gyu Hwang (황치규)] The Balancer community has passed a proposal to shut down operation of the DeFi protocol.

In a recent post shared by Balancer on X, Balancer community members approved BIP-928, a proposal to wind down the protocol in an orderly manner. A separate proposal, BIP-929, to continue by forking the protocol did not pass.

Under the decision, existing pools will operate normally until Oct. 30 local time. Users can withdraw funds throughout that period. Partners can apply until Oct. 16 to extend operation of V3 pools. Pools designated for an extension will operate until Nov. 30.

From Oct. 30, pools that are structurally able to do so under the smart contract framework will switch to withdrawals only. The bug bounty programme will also end that day. V3 vaults will stop on Nov. 30.

BAL holders are expected to burn BAL from late May 2027 and receive treasury assets in proportion to their holdings. tetuBAL holders will receive BAL equivalent to 50 percent of their locked assets.

Earlier, Balancer Labs, which operates Balancer, said it would dissolve the corporation after a hacking incident in March. The decision was directly triggered by a hacking incident that occurred on Nov. 3, 2025. An attack that exploited a rounding flaw in Balancer v2 pool swap logic led to the loss of about $128 million across multiple chains.