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Degen: Deciding to migrate DEGEN L3 may require launching a new chain

2024-11-07 14:45:16

DEGEN-1.93%

L3-1.08%

BlockBeats News, on November 7th, Degen announced that they have decided to migrate DEGEN L3 away from the Rollup deployment platform Conduit due to difficulties with their services. 'They have been holding our rollup Secret Key for several months, and we may need to restart a new chain.' DEGEN L3 handles over $200,000 in bridge volume daily, and Conduit pushed a bad upgrade without notice, resulting in a 54-hour downtime and a loss of $160,000 in user funds. Subsequently, the bridge volume dropped by more than 75% in the following month. After the incident, Conduit refused to take responsibility for the community's losses, rejected Degen's chain upgrade request, and withheld the sequencer fee, while demanding to sign a new contract to avoid liability. Since early August, the Degen team has been working hard to reach a solution with Conduit for migrating the hosting service of DEGEN L3, but it has been confirmed that Conduit is not cooperating sincerely.

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