The official account of the decentralized trading protocol Balancer has disclosed that a proposal to dissolve Balancer and distribute treasury assets to BAL token holders has been launched on the community forum, authored by Marcus Hardt.

The proposal is currently in the open discussion phase and has not yet entered formal voting. Snapshot on-chain voting is expected to take place between September 25 and 29, which means there is a window for community discussion and feedback from the proposal's release to the final vote.

Balancer officials have made it clear that "nothing will change today" before the voting results are announced: existing liquidity pool operations and user withdrawal functions will continue normally and will not be interrupted or adjusted due to the proposal's release. Any actual operations related to dissolution will wait for the voting results.

The core demand of the proposal is to "dissolve the protocol and distribute treasury assets to BAL holders," meaning that if the vote passes, Balancer as a continuing operational protocol entity will terminate, and its accumulated treasury funds will be converted into a one-time distribution to token holders, effectively cashing out the protocol's "continuation value" directly to existing token holders, rather than continuing to invest in further development and operations.

Mechanically, if such a "dissolve and distribute treasury" proposal passes, the pricing logic of the BAL token will fundamentally change—from "pricing based on expectations of future income and governance rights of the protocol" to "direct pricing based on shares of treasury asset distribution," allowing holders to benefit directly in the short term from a one-time cash out of treasury assets. However, in the long term, the protocol itself, as an asset generating ongoing fee income, will no longer exist, and participants who originally relied on the Balancer protocol for liquidity mining, providing LP services, or governance games around BAL (market makers, ecosystem projects funded by the Balancer treasury) will lose this source of income and financial support. Whether the proposal can pass depends on the actual voting intentions of BAL holders in the Snapshot vote from September 25 to 29, and it is still in the discussion phase, with uncertain results.

Source: Public Information