Balancer Labs will shut down as corporate entity became 'a liability' after $110 million exploit

Balancer Labs will shut down as corporate entity became 'a liability' after $110 million exploit

Co-founder Fernando Martinelli said he considered winding down the entire protocol but decided the team deserved a chance to restructure, with the DAO targeting zero emissions, fee restructuring, and a BAL buyback to offer holders a fair exit.

The company that built decentralized finance (DeFi) powerhouse Balancer is closing. Balancer co-founder Fernando Martinelli announced Tuesday that Balancer Labs, the corporate entity that incubated … [+2949 chars]
Balancer Labs will shut down as corporate entity became 'a liability' after $110 million exploit - FHMnews