Alchemix Farm Migration Post Mortem and alETH Update
A few hours after the Alchemix team executed the migration of ALCX farming rewards to the brand new MasterChefV2 contract by SushiSwap, we were notified of a bug by a community member. MasterChefV2 uses the ALCXRewarder contract to distribute ALCX rewards to LP stakers. A bug in the ALCXRewarder miscalculated how long people had been staking, and thus how much ALCX people should be awarded. This problem would have only worsened over time. Thanks to the fast action of both the Sushi and Alchemix teams, we were able to pause ALCX rewards. Only 60 ALCX, or approximately $50,000, was over-rewarded during this period. No user funds were lost.
A new rewarder contract has been deployed to fix this bug. We are in close coordination with the Sushiswap team, and will have ALCX rewards coming on Monday, June 7th afternoon UTC. Further instructions will be provided prior to the migration.
This incident resulted in about 5 days of lost rewards for ETH/ALCX SLP stakers. To make up for this, there will be double ALCX rewards in the ALCX/ETH Onsen farm until Sunday, June 13th 11:00am UTC.
We had originally planned to launch alETH on June 6th, but the farming pool migrations have taken away the developer resources needed to launch it. We are aiming for this upcoming weekend and will make a separate announcement detailing exactly when we will go live with alETH.
Big things are coming! Please join the discussion in our Discord.