AIP-92 Alchemix L2 Bridging Update / Fantom Wind-Down
Status: AIP-92 is up for a snapshot vote until June 29, 2023 at 11:51 UTC
AIP-92 has two main objectives, replacing Multichain as Alchemix’s L2 bridge and winding down Alchemix on Fantom. Over the past few weeks there have been some red flags surrounding Multichain and the Alchemix team proposes Connext as the new bridge. Connext has similar functionality as Multichain and improvements on UI/UX and security. Moving bridge protocols will de-risk the uncertainty surrounding Multichain, who has significant power over L2 Alchemix. The move to Connext also allows Alchemix to further decentralize the protocol on L2s. Currently, Connext does not support Fantom and therefore, the core team proposes winding down Alchemix on Fantom. This change will be structured so existing depositors and liquidity providers are incentivized to move their positions to Arbitrum, Optimism, or Mainnet. Additionally, the poor performance of the Fantom deployment solidified the decision to sunset Alchemix on Fantom. Checkout AIP-92 for all of the details and specifications on this proposal. And don’t forget to vote!
Since the last update…
AIP-89 met quorum and passed a snapshot vote, expanding Alchemix-Vesper vault offerings on Mainnet and Optimism.
AIP-91 met quorum and passed a snapshot vote, greenlighting funds for a grant that focuses on building a new front-end tool for Alchemix.