Balancer said on Sept. 30 that BAL token holders approved BIP-928, a proposal to wind down the protocol in an orderly way, while BIP-929, which would have continued Balancer technology under a new name through a fork, did not pass. Existing pools will keep operating until Oct. 30, and users will be able to withdraw funds throughout the process. The deadline for partners to request an extension for certain V3 pools to remain active until Nov. 30 is Oct. 16. On Oct. 30, pools whose contracts can be paused will move into withdrawal-only mode, and the bug bounty program will end the same day. On Nov. 30, the V3 Vault will be paused. Balancer said its contracts are non-custodial, so withdrawals do not depend on the project continuing to operate. BAL holders do not need to take any action for now. Starting from late May 2027, holders will be able to burn BAL and receive a proportional share of DAO treasury assets, with the exact opening date to be announced at least two weeks in advance. Balancer also said it will publish guides for exiting pools through its app, third-party tools, and direct onchain interactions.
Balancer said on Sept. 30 that BAL holders approved BIP-928, the proposal for an orderly shutdown of the protocol, while BIP-929, a fork proposal that would have carried Balancer technology forward under a new name, failed to pass.
Shutdown timeline
Under the schedule released by Balancer, existing pools will continue to operate until Oct. 30, and users will be able to withdraw funds during the entire process.
The deadline for partners to apply for certain V3 pools to keep running until Nov. 30 is Oct. 16. On Oct. 30, pools whose contracts allow pausing will switch to withdrawal-only mode, and the bug bounty program will end on the same day. On Nov. 30, the V3 Vault will be paused.
Withdrawals and BAL redemption plan
Balancer said its contracts are non-custodial, which means withdrawals do not depend on the project continuing to operate. BAL holders do not need to take any action at this stage.
Starting from late May 2027, holders will be able to burn BAL and receive a proportional share of DAO treasury assets. Balancer said the exact launch date will be announced at least two weeks in advance.
The project also said it will publish guides for exiting pools through the app, third-party tools, and direct onchain transactions.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
