Alchemix Community Raffle for 12 Days of Protocols

Alchemix has published details about **The Great Alchemix V3 Migration**, outlining the transition process for the protocol's next major version. The migration will affect existing deposits and requires users to understand the implications for their positions. The team has provided a comprehensive breakdown of what depositors need to know. **Key Points:** - V3 represents a significant protocol upgrade - Existing deposits will need to be migrated - Detailed instructions available in the official Medium article - Users should review the TL;DR for quick understanding of deposit impacts The migration aims to improve the protocol's self-repaying loan infrastructure while maintaining its core features of interest-free and non-liquidating loans. Read the full migration guide: [The Great Alchemix V3 Migration](https://alchemixfi.medium.com/the-great-alchemix-v3-migration-df1c4d77ccdb)

**Automatic migration of all v2 positions to v3 starts on February 6th**, two weeks from the announcement date. This follows the successful passing of **AIP-123**, which authorized the upgrade process. **Key details:** - All v2 positions will be automatically migrated - Migration timeline and process outlined in accompanying Medium article - Users participating in the migration will receive rewards The platform is moving forward with this significant infrastructure upgrade to improve functionality and user experience. Position holders should review the detailed Medium article for complete information about the migration process and reward structure.

Alchemix has launched **Mana**, a transparent incentive system to reward users during the v3 migration. The program is now live across Ethereum, Optimism, Arbitrum, and Linea. **How Mana Works:** - Vault users earn 1 Mana per $100 value per day - LP users earn based on average of Jan 15, 2025 and current balance - Participants receive a share of **10,000 rALCX** after migration - Rewards vest to ALCX over 6 months (early claim option available with burn penalty) **Migration Timeline:** - Automatic migration begins February 6th, 2026 - Protocol will be offline for one week during migration - LP rewards accrue for 1 month post-launch - Users can opt-out by withdrawing before Feb 6th The v3 upgrade includes 90% LTV, new Transmuter, and architectural improvements. Treasury covers slippage exceeding 0.25% for automatic migrations. [Learn more](<https://x.com/AlchemixFi/status/2012363008694272355>)

The new **ALCX-WETH Balancer V3 pool** is now operational, with incentives transferred from the previous V2 pool. **Key points:** - Incentives have moved to the new Core Status pool - Users with funds in the old V2 pool are advised to migrate immediately - The migration follows the approval of [BIP-898](https://snapshot.box/#/s:balancer.eth/proposal/0x0573db9da314643e02adc53f157990ab24db63455146b510cf35c82c30cf291c) - The proposal migrated both the gauge and Core Pool status from the ALCX/ETH 80/20 V2 pool to V3 The upgrade to Balancer V3 brings improved functionality for liquidity providers in the ALCX-WETH pair.

Alchemix is migrating user funds from v2 to v3 contracts starting **February 6th, 2026**. The protocol will be offline for approximately one week during this transition. **Two options for users:** - **Automatic migration**: Leave funds in v2 and let the protocol handle the transfer. Treasury covers slippage over 0.25%, plus users earn Mana (share of 10k ALCX) - **Manual opt-out**: Withdraw funds before Feb 6th and redeposit after v3 launches During migration, the team will snapshot all accounts, secure funds in a migration multisig, and recreate positions in v3 contracts.