Alchemix pauses Transmuter deposits for Base upgrade

Alchemix has temporarily suspended deposits into the Transmuter on Base due to a 10-fold reduction in block time effective November 6. Deposits will resume after the Denim network upgrade is completed. The Transmuter period in Alchemix v3 is measured in blocks, leading to 10 times faster conversions of existing positions and repayments for vault positions. This acceleration allows vault users to secure leveraged yield more efficiently before costs exceed initial borrowing. Alchemix is establishing a large vault position with a 65% loan-to-value ratio to manage increased repayments and eliminate repayment fees for borrowers. Additionally, treasury funds are being deposited into Base USDC MYT. Vault users can increase leverage now, with costs covered by MYT donations, while the mainnet and other deployment environments remain unaffected.

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