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…

AC says: First it was "Not your keys not your coins", Now its "Not your blockchain no ones coins"

GM Degens,

After careful consideration—since it affects the community most—we’re sharing our difficulties in migrating DEGEN L3 away from @conduitxyz services

They've held our rollup keys hostage for months, and we may need to relaunch a new chain

https://t.co/q16ac9lvDT

First it was;

"Not your keys not your coins"

Now its;

"Not your blockchain no ones coins"

Obviously an isolated incident and part of the learning / teething process, and I might very well be wrong about "L2 as a service" offerings, but personally, I was always a "write it…

Andre Cronje

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

AC says: First it was "Not your keys not your coins", Now its "Not your blockchain no ones coins"
https://x.com/AndreCronjeTech/status/1854544860901962192

Good that this is getting community attention and most is on the Degen side