This proposal is to migrate all funds that have not been migrated by users from the temporary v1->v2 migration contract to v2.
Context
Following the launch of Alchemix v2, only a relatively small portion of depositors migrated their funds to the v2 contracts. For this reason, AIP-61 was put forth and approved by governance.
You can read the detailed proposal here:
https://forum.alchemix.fi/public/d/348-aip-61-migrate-v1-to-v2-and-sunset-v1
And the snapshot vote here:
https://snapshot.org/#/alchemixstakers.eth/proposal/0x400427697f3a0335a5cad821b9f6da29bc30b1b7fffb8dc64e3d202a42df55d5
The proposal outlined the v1 funds to be moved to a temporary migration contract that makes it possible for users to then migrate their position (deposit and outstanding debt) with a single low-cost transaction to v2.
The reason the funds were moved into this temporary contract and not directly to v2 contracts in the first place, was to provide the lowest cost, least “intrusive” option for v1 depositors to migrate their funds. They were comfortable using the v1 contracts, but no assumptions could be made for their willingness to use the v2 contracts.
However, this came with the downside of the deposits sitting idle while in the migration contract.
This option has been available for a month now, but only a very small percentage of positions have been moved over by depositors. Funds in the temporary contract are not earning yield.
There are currently $12.87M DAI and 6,492 ETH in the temporary contract.
Ultimately the decision is to force the v1 users into v2 but allow their deposits to continue earning yield, or don't force them into new contracts but sacrifice their yield until they manually migrate.
This proposal calls for the protocol to complete the migration for these positions, as it is unclear when, if ever they would be moved by the users themselves.
Technical Details
If this AIP is approved, the dev multisig wallet will call the forceMigrate() function on each of the TransferAdapter contracts, for each of the addresses that have not yet migrated their funds.
TransferAdapter_alUSD
TransferAdapter_alETH
Voting
A vote “FOR” authorizes Alchemix to move all funds currently in the v1->v2 migration contract to v2.
A vote “AGAINST” does not authorize Alchemix to move the funds from the v1->v2 migration contract.