Degen: decision to migrate DEGEN L3, may need to start a new chain

Degen has decided to migrate DEGEN L3 to get away from the difficulties of the Rollup deployment platform Conduit Services, the official Degen said in a post on social media platforms. ‘They have been withholding our rollup keys for months and we may need to restart a new chain.’

DEGEN L3 was processing over $200,000 in bridging volume per day, and Conduit pushed a bad upgrade without notice, which led to 54 hours of downtime and $160,000 in lost user funds Subsequently, bridging volume dropped by more than 75 per cent over the next month.

In the wake of the incident, Conduit refused to take responsibility for the community's losses denying the Degen chain upgrade request and withholding sequencer fees while demanding a new contract be signed to avoid liability.

Since early August, the Degen team has been working to reach a solution with Conduit to migrate the DEGEN L3 hosting service, and it has been determined that Conduit is not cooperating in good faith.