Alchemix

**Audit Milestone Reached** Smol v3 development continues with key security progress: - yAudit DAO system-wide audit began last week - All additional testing completed - Further updates coming soon This follows the previously announced Immunefi audit scheduled for October 6th. The protocol offers self-repaying, interest-free, and non-liquidating loans.

The Alchemix Treasure Hunt has officially concluded with four winners claiming prizes. **Winners:** - Three participants found physical envelopes hidden around Denver, Colorado: @smashleybelle, @jason_mart99993, and @alej14and14ro - One winner (@nextblock_eth) won through an online draw The treasure hunt involved physical locations in Denver marked by specific GPS coordinates and What3Words addresses. Winners who haven't submitted their wallet addresses are being asked to DM the Alchemix team. This community engagement event combined real-world scavenger hunting with digital rewards.

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)

**Community-driven win for Safe Harbor adoption** We secured the @_SEAL_Org Adopter award thanks to strong community engagement and support. **Key highlights:** - Award recognizes Safe Harbor adoption efforts - Community participation was crucial for the victory - Organizations can still adopt Safe Harbor protocols **What's next:** If your organization hasn't explored Safe Harbor yet, now's the time to check out their offerings. *Thanks to everyone who engaged and made this win possible.*

**Immunefi audit competition launches October 14th** at 14:00 UTC with **$100,000 in rewards** up for grabs. The two-week security audit will focus on the v3 system, offering substantial bounties for vulnerability discoveries. - **Start date**: October 14th, 2:00 PM UTC - **Prize pool**: $100,000 total rewards - **Duration**: Two weeks - **Focus**: System-wide v3 audit A code walkthrough session is planned to help participants understand the codebase before the competition begins. Security researchers and auditors can participate in this bug bounty program to help strengthen the platform's security infrastructure.

**Final system-wide audit confirmed** for Immunefi's V3 platform. - **Start date**: October 6th - **Duration**: Two weeks - **Scope**: Complete system review This marks the final security assessment before V3 launch, following initial audits that began in February.

Euler's V3 protocol has officially entered the audit phase, marking a significant milestone in its development roadmap. Three respected firms will conduct comprehensive security reviews: - ChainSecurity - SpearbitDAO - OpenZeppelin This follows the successful completion of multiple audits for Euler v2 in April 2024. The audit phase represents one of the final steps before the V3 deployment. *Security remains a top priority* as Euler continues building robust DeFi infrastructure.

Alchemix has released its Q3 2024 Financial Report covering July through October. The protocol showed significant growth across multiple chains: - Improved pricing for alETH and alUSD tokens - 112% expansion on Arbitrum network - 20% growth on Optimism chain The report demonstrates continued expansion of the self-repaying loan protocol across Layer 2 networks. Full details available in the comprehensive report and summary on Medium.