Balancer has put forward a governance proposal that would wind down the protocol and return its treasury to BAL token holders. The proposal was posted to the protocol’s governance forum on Monday and says Balancer would stop operating under the plan. It also revokes a buyback program that token holders approved in April. In its place, the proposal introduces a redemption model in which BAL would be burned in exchange for treasury assets. The treasury is valued at about $9 million, according to the summary of the proposal referenced by The Defiant. The item was published by The Defiant as an RSS summary, and the full article was not included in the input.
Balancer could cease operations and return its treasury to BAL holders under a proposal posted to the protocol’s governance forum on Monday.
The proposal would cancel a buyback that token holders approved in April. It would replace that plan with a redemption mechanism that burns BAL in exchange for treasury assets.
The treasury is worth about $9 million, based on the summary cited by The Defiant.
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.
