According to CoinMeta, Balancer has announced its closure, and the governance vote was passed on Tuesday, deciding to gradually cease the operations of the decentralized exchange. It is planned to convert the liquid pools that can be paused into ones where withdrawals are only allowed. The compensation for each BAL is estimated to be around 16 cents, with payouts set to begin in May 2027. During the vote, the proposal BIP-928 received over 99% support, while the proposed official fork BIP-929 was rejected by about 70% of the holders. The former CEO of Balancer Labs, Marcus Hardt, stated on the governance forum that the proposal has been approved and will now enter the execution phase.