Exchange record
Balancer
Ethereum-based decentralized exchange and automated-market-maker protocol launched in March 2020. After the November 2025 Balancer v2 exploit, Balancer Labs announced its March 2026 wind-down, while protocol governance and operations continued through DAO, Foundation, and consolidated operating-company structures.
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Key facts
URL handling
Summary
Ethereum-based decentralized exchange and automated-market-maker protocol launched in March 2020. After the November 2025 Balancer v2 exploit, Balancer Labs announced its March 2026 wind-down, while protocol governance and operations continued through DAO, Foundation, and consolidated operating-company structures.
Timeline
Balancer is recorded as an Ethereum ecosystem AMM and DEX protocol. Version and deployment rows are consolidated into one protocol-level HEI entity.
Balancer v2 pools were exploited across multiple chains in November 2025, with secondary reports describing approximately USD 128 million drained and the flaw later cited as a source of legal exposure for Balancer Labs.
Balancer co-founder Fernando Martinelli announced that Balancer Labs would wind down, while explicitly stating that he was not calling for a full Balancer protocol shutdown and supported a lean continuation path.