Balancer, a prominent Ethereum-based decentralized finance (DeFi) protocol that helps users trade and transfer funds without needing a middleman, is considering shutting down after its efforts to grow sustainably failed.
The proposal aims to protect withdrawals and return remaining funds to eligible BAL holders. As of now, however, the decision is still up for a vote. This means Balancer has not closed yet, and there are no immediate changes to the protocol.
Balancer Maps Out an Orderly Exit
Balancer has announced plans to wind down its operations, beginning with an exit period. Eligible pools will transition to withdrawals-only starting October 30, 2026. Still, this follows approval from governance.
During this phase, the protocol will focus on essential tasks, including developing withdrawal interfaces, updating documentation, maintaining coverage for subgraphs, and providing support for unlocking veBAL positions in November.
The team said its treasury, which is estimated at over $9 million before the final audit, will be distributed among eligible BAL holders. The first distribution is scheduled for the end of May 2027, at which point holders will need to burn BAL to receive a share of the treasury assets based on their proportion.
This claim window will remain open for 6 months, and any unclaimed value will be saved for later distribution rather than being forfeited immediately.
A second round of distribution will provide remaining funds to initial participants, followed by a final distribution six months later. Additionally, the proposal cancels the planned BIP-919 buyback, but funds recovered from attacks will still be reserved for the affected liquidity providers.
CoinEx Joins a Wider Crypto Retreat
Balancer is not the only crypto-based project winding down. Crypto exchange CoinEx has also announced it will shut down operations after nearly nine years. The exchange cited a long market downturn, lower trading volumes, and higher compliance costs as reasons for its decision.
On September 15, CoinEx stopped new registrations and limited certain products as it prepared to close. According to the exchange, non-spot services will end on September 22, and spot trading will stop on September 29, along with CoinEx Smart Chain and OneSwap.
The team stated that users can withdraw their assets until December 22, giving them extra time to move their funds before everything shuts down. It notes that with its reserve ratio over 100%, all customer assets remain fully backed and can be withdrawn during the shutdown.
The exchange will also buy back remaining CET tokens at $0.005 each, with no limits on quantity or additional conditions. CoinEx Wallet and CoinEx Vault will keep operating and are separate from the exchange’s closing timeline.
Jonathan Agozie | September 8, 2026
