dYdX, a decentralized finance (DeFi) protocol, has announced an investigation into a recent halt in block production as the chain underwent a scheduled upgrade.
On April 8 at 5:30 am UTC, dYdX initiated a scheduled protocol upgrade, notifying users of potential disruptions to functionalities. However, block production did not resume as expected after the maintenance window.
dYdX confirmed encountering an issue and began debugging at 6:50 am UTC. As of now, the issue remains under investigation, and the team has not proposed a workaround or fix. A reconvening with validators is scheduled around 15:00 UTC to ensure they are available when the chain restarts.
The proposed protocol upgrade, initiated on Feb. 21, aimed at introducing order book features, risk and safety enhancements, and Cosmos-related improvements. This outage follows a recent development where the community approved staking 20 million tokens on the liquid staking protocol called Stride.
In November 2023, the dYdX Chain faced a targeted attack resulting in $9 million in losses. On Jan. 3, the protocol identified the attacker and considered legal action. It also implemented improvements to its trading platform for better monitoring and alerts amidst growing trading activity.
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