$DEGEN

Careful When Using Degen Chain Bridge

Or How I Lost 785,000 DEGEN Bridging from Degen Chain to Base 🤦‍♂️

A thread 🧵⬇️

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1/ Today, I wanted to increase my amount of locked DEGEN in the Vault, so I bridged 900k DEGEN (in 2 transactions) from Degen Chain to Base. I received only about 115k DEGEN back on Base.

When I realized what happened, I was confused by two things:

1. Firstly, the amount I received was much lower than I expected (an 87% slippage!!!)

2. Secondly, the bridge transaction concluded in a few minutes, even though the Degen Chain Bridge UI states it’s going to take 7 days.

Let’s investigate further what happened…

Building paywithglide.xyz. ex Robinhood, Uber, Apple

Making cross-chain payments easy. Follow @tusharsoni.eth for updates or visit paywithglide.xyz

cc: @tusharsoni.eth maybe @paywithglide will be affected as well, in case someone pays with degen and you need to periodically bridge and swap it

thanks for flagging! @paywithglide users won't be impacted as we don't use a bridge to complete any transaction.

on our operational side, we have been lucky to not get impacted by this bug.

yes, I understand, meant more for @paywithglide product itself, since if there's a low liquidity and you can't compensate the received degen :)