🔍 Immunefi Audit Competition

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 specific information about how their accounts will be affected.

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)