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.

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

Launch an L2 or L3 in a few clicks, no code required. Ask questions about rollups in /conduit

2/9 To recap what happened to the chain: 

- DEGEN L3 was processing $200k+ in bridge volume per day
- @conduit pushed a bad upgrade without notifying us
- this caused 54 hours of downtime and led to $160k in lost user funds
- then bridge volume dropped by 75+% over the next month


3/9 In the aftermath, @conduit:

- refused to take ownership for damages to our community
- refused our requests to upgrade the chain 
- withheld our sequencer fees
- demanded a new contract absolving them of responsibility 
- negotiated said contract in bad faith over 3 months


4/9 We've been trying since early August to reach a solution with @conduit to migrate DEGEN L3 hosting away from their services

Finally, a signed draft has arrived, but the last 3 months, particularly last week, have disillusioned us as to their motive and sincerity.
