Multipli has announced that all features on its v1 platform will be disabled on July 7 as the protocol prepares to migrate users to Multipli v2.
According to the project, users will still be able to log into the existing platform and view their balances after the deadline. Still, all actions, including deposits, withdrawals, and other transactions, will be disabled while the migration is underway.
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To facilitate the Multipli v2 migration, we will disable all v1 features on Tuesday, July 7, 2026, at 6:29 PM GMT.
You will be able to explore v1 and see your funds, but you will not be able to perform any actions.
— Multipli.fi (@multiplifi) July 7, 2026
The migration is scheduled to begin at 6:29 p.m. GMT on Tuesday and is expected to take several hours. Once completed, Multipli v2 will become the default platform and will operate through app.multipli.fi.
Before migration begins, users are asked to complete a consent process to choose the destination network for their assets in v2. If no consent is submitted, Multipli said a destination network will be assigned according to rules previously outlined in its migration guide.
Users who do not want to participate in the migration have been advised to withdraw their funds before v1 is disabled. The protocol said all pending withdrawals from v1 will be processed as soon as possible.
Why do DeFi platforms ask users to migrate?
Major protocol upgrades often require users to move assets from older smart contracts to newer ones. New versions usually include changes that cannot be added to existing contracts because blockchain code cannot be edited after deployment.
Several DeFi projects have taken a similar approach. Aave, for example, introduced migrations between protocol versions before expanding to new networks. It has now officially launched on the Solana blockchain through an integration powered by Sunrise, allowing users to supply assets to earn interest or borrow against collateral. Yearn Finance also asked users to move funds into updated vaults after rolling out new products with improved strategies and security.
DeFi users are no longer staying on one blockchain
Many DeFi users no longer keep all of their assets on a single blockchain. It is now common for the same user to hold funds across networks such as Ethereum, Base, Arbitrum, and BNB Chain, depending on where fees are lower, yields are higher, or favourite applications are available.
That is one reason projects like Multipli now ask users where they want their funds sent before an upgrade. Instead of moving everyone to the same network, protocols are giving users a choice because many people have already built their own preferred blockchain ecosystem. A migration that ignores those preferences could leave users moving their assets again after the upgrade, creating extra work and additional transaction costs.
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