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Jacek.degen.eth 🎩
@jacek
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
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Jacek.degen.eth 🎩
@jacek
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
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Jacek.degen.eth 🎩
@jacek
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
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Jacek.degen.eth 🎩
@jacek
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.
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Jacek.degen.eth 🎩
@jacek
5/9 Ultimately, we have determined that they are not operating in good faith and are likely to maliciously comply with the proposed contract to delay the migration even further. We have an exciting upgrade that requires only a single signed transaction from the @conduit team—
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accountless
@accountless.eth
respect for this post!
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