On July 14, the core team of the multi-chain revenue optimizer Beefy recently released an informal ARFC proposal and started voting, aiming to evaluate whether to quickly migrate BIFI tokens from Multichain. In the proposal, the core team proposes to redeploy BIFI on Ethereum and set up a unified governance pool, while bridging the pledged mooBIFI tokens through a new bridging solution managed by DAO.

The move comes as Beefy’s bridge provider, Multichain, has suffered a series of critical outages over the past two months affecting all assets supported by its protocol. In a recent incident, approximately 18,690 BIFI tokens were transferred from Multichain’s router to another Multichain-controlled wallet without Beefy’s prior knowledge or consent, resulting in bridged BIFI tokens (i.e. not on the BNB chain Tokens on ) lack support.

The current voting results show that 99.67% of the votes were in favor of the migration, 0.15% were against the migration, and 0.17% were abstentions. The voting will close at 2:00 am Beijing time on July 15th.