- DYdX Chain Block Production Resumes After Over 9 Hours of Downtime
- This is the first major outage disruption since the launch of dYdX version 4
DYdX Chain, the backbone of the perpetual futures exchange dYdX, encountered a significant outage on Monday due to a scheduled upgrade to its v4 version. Lasting for over nine hours, the disruption was attributed to a critical bug that led to state corruption during the upgrade process.
Despite this setback, the decentralized exchange (DEX) remained operational.
The recent outage, the first significant disruption since the debut of dYdX version 4 and its standalone Cosmos blockchain in October, was triggered by a glitch in the IAVL library of Cosmos, resulting in state corruption during the upgrade process,
Although scheduled maintenance for the dYdX Chain was successfully completed at 6:30 a.m. UTC, issues emerged just 20 minutes later. However, despite the interruption, the dYdX Chain was able to resume block production by midday Monday after a software bug fix. This restoration effort necessitated collaboration among validators to implement the fix and restart the network.
Notably, dYdX assured users that the fix would not cause any state-breaking changes, ensuring backward compatibility with previous blockchain versions. Crucially, throughout the outage, dYdX’s perpetual futures decentralized exchange (DEX) continued to operate seamlessly, averting any disruption to trading activities.
Scheduled maintenance for the dYdX Chain was completed as planned, but issues arose shortly afterward, resulting in a halt in block production. As of the latest update, the mainnet has not produced any new blocks since the scheduled upgrade, raising concerns about the platform’s stability.
Interestingly, despite the outage, the market sentiment towards dYdX’s native token, dYdX, remained positive, with over a 4% increase in price observed following the chain halt. This response suggests strong confidence in the platform’s long-term prospects.
The recent approval of staking 20 million tokens on the liquid staking protocol called Stride by the dYdX community reflects the growing trading activity within the protocol. This move aims to further incentivize participation and enhance the security of the network.
Despite the challenges posed by the outage, the dYdX Chain’s v4 upgrade introduces several advancements, including order book features and risk improvements.
