Former Balancer Labs CEO and Treasury Council member Marcus Hardt has proposed winding down Balancer, ending new business development and distributing at least $9 million in managed treasury assets to BAL holders. The proposal was filed on Balancer's official forum on Sept. 14, with a Snapshot vote scheduled for Sept. 25-29; pools and withdrawals would remain unchanged unless holders approve it. The plan would cancel BIP-919's NAV buyback, supersede BIP-687 and fund a transition through a $400,000 wind-down budget. Holders would burn BAL for pro-rata, in-kind claims beginning at the end of May 2027, followed by distributions of unspent, newly received and unclaimed assets. The proposal follows a lean reset after the November 2025 exploit of legacy v2 pools, as v3 revenue failed to replace v2 income. Protocol revenue fell to about $30,000 in August from roughly $97,000 in June, against monthly spending of about $150,000. Balancer's total value locked has declined from more than $3 billion at its 2021 peak to about $58 million.