Post-Hack Pressure Pushes Balancer Labs to Wind Down Operations, Restructure Protocol

Balancer Labs, the entity behind the DeFi protocol Balancer, is moving to wind down its current structure after months of financial strain. Its leadership has proposed a scaled-down model to keep the Balancer protocol operational. CEO Marcus Hardt said two governance proposals have been submitted to overhaul the protocol’s structure, following months of crisis management after the November exploit. Economic Mod…