Balancer token holders have approved a proposal to wind down the protocol while rejecting funding for an official fork. The decision marks a significant shift in governance direction as the community opts for an orderly shutdown over continued development through a new iteration. Under the approved plan, BAL holders will be able to burn their tokens in exchange for a proportional share of treasury assets starting at the end of May 2027. This redemption mechanism provides a clear exit path for token holders as the protocol transitions toward closure.