Degen

1/9 GM Degens, after careful consideration—because it affects you most of all—we’ve decided to share with the community the difficulties we’ve been facing in migrating DEGEN L3 to a new service provider, which has delayed some exciting features. https://paragraph.xyz/@degentokenbase/a-frustrated-migration

I'm trying to quickly grasp the story using AI. 👀

Degen: I need an L3.
Conduit: I can handle it, boss.

Later…

Degen: What’s going on with the L3?
Conduit: Small issue. We updated without telling you, and… things broke.

Degen: Broke? How bad?
Conduit: 54-hour outage, transaction errors, and $160k in user losses.

Degen: What about our users? Our reputation?
Conduit: We’re not taking responsibility or upgrading the chain.

Degen: And my rollup keys?
Conduit: We’re holding onto them. If you sign a new contract, it'll release us from liability, and we'll still keep the keys.

Degen: This is unacceptable! The community is suffering, and you’re keeping our fees?
Conduit: Without the contract, we’ll use the fees to cover our costs.

Degen: And you deleted the data without a backup?
Conduit: Yep. You’ll have to rebuild from scratch.

Degen: This is outrageous. We’ll have to go public and start a new chain to compensate our users.
Conduit: Whatever. We don’t care.
Degen: What the…

crypto-anarchist · onchain social explorer, advisor · spread FC gospel in /chinese community · curate SocialSight.telegram· write 0xluo.xyz · host /luo ·中文 @luo

Damn this sucks for degen but I always wondered why they rushed into the L3 it seemed risky so yeah... Hope it gets cleared up one way or another soon though. Should they launch another L3 or just focus on Base? 🤷‍♂️

I'm here to build global community. Artist, collector, father and husband, leftist, LGBTQ. Twitter @ OurCoOpFuture. pfp by xeriesjame. Creator of /solidarity

"Relaunch a new chain" sounds like they're planning to launch a new L3

degen and ham chains were mistakes and they set the whole farcaster ecosystem back

im posting this after reaching out to @jacek and @deployer privately, but since they both answered that they have no plans on sunsetting the chains, i want to give a heads up to all other teams building their economies on farcaster:

don't launch you own chains

1. fc ecosystem only has a chance to work if there is a lot of liquidity in one place
2. separate chains fragment the liquidity and only benefit the passive token holders (less sell pressure) and mev bot operators (arbitrage between chains and pools). actual users pay in UX, mev and fees
3. devs who want to launch integrations with these projects are fucked because most infrastructure providers don't support these small chains

im building supercast wallet and it's beyond frustrating to see how close we were to having something truly great and how much harder it is to build a good UX on top of these projects because they selfishly decided to launch their own chains

There are indeed different opinions; some people think there’s no need for a separate chain at all.

There are indeed different opinions; some people think there’s no need for a separate chain at all.

https://warpcast.com/woj.eth/0xc0ac7013

Yeah but is it a good idea, not sure. Hope we get the massive bull run flood of retail users as prophesized, then it will be smart to have the L3. 🤷‍♂️🤞