Alchemix Fi announces plans to reinvent self-repaying loans in 2024

Alchemix is launching a major platform upgrade with its V3 migration. The protocol, known for offering self-repaying, interest-free, and non-liquidating loans, has published detailed migration information for existing users. **Key Points:** - Official migration details available on [Medium](https://alchemixfi.medium.com/the-great-alchemix-v3-migration-df1c4d77ccdb) - The upgrade affects current deposits and loan positions - Users should review the complete breakdown to understand impacts on their holdings The V3 upgrade represents a significant evolution for the DeFi lending protocol. Existing depositors will need to familiarize themselves with the migration process and any changes to their positions. Alchemix continues to differentiate itself in the lending space by eliminating liquidation risk and interest charges while enabling loans that repay themselves over time through yield generation.

The automatic migration of all v2 positions to v3 is set to begin on **February 6th**, following the approval of AIP 123. **Key Details:** - Migration starts in one week from January 30th - All v2 positions will be automatically migrated - Users who participate in the migration will receive rewards The timeline and process details are available in the project's Medium article. This follows previous announcements that began on January 17th, outlining the migration plan and reward structure.

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.

**Security experts to examine DeFi's potential** as a legitimate financial system in upcoming discussion. - @Ov3rKoalafied and Mitchell Amador from @immunefi will host X Spaces session - **Focus on history, security, and future** of decentralized finance - Discussion coincides with completion of v3 audit contest reports **Event Details:** - Date: December 16th - Time: 2PM UTC - Platform: X Spaces The conversation aims to address whether DeFi can evolve beyond experimental protocols into robust financial infrastructure. Security remains a critical factor in mainstream adoption. [Set reminder here](https://x.com/i/spaces/1DXxyWakAjYGM?s=20)

**Alchemix delivered solid Q2 2025 results** with global deposits reaching over $45 million, marking 12.9% quarterly growth. **Key achievements include:** - Secured 100,000 OP token grant for user incentives - Enhanced security through partnerships with Cantina & SEAL - Launched Holyheld Debit Card beta program - Maintained growth momentum ahead of v3 launch The DeFi protocol continues building despite market volatility, following Q1's resilient performance during ETH's 45% decline. [Read the summary](https://alchemixfi.medium.com/alchemix-q2-2025-report-summary-d31ec98cc4a9) | [Full report](https://docs.alchemix.fi/resources/audits-and-reports/financial-reports)