DeFi protocol developer dYdX declared that it is looking into the reason for the recent stoppage of block production during a planned chain update.
dYdX released a status report on April 8 at 05:30 UTC, stating that the chain was moving forward with a planned protocol upgrade and that there would be some disruptions to the chain’s functionality.
However, following the planned repair, the chain did not start up again with block production.
As of this writing, the most recent blocks generated by the dYdX mainnet were from five hours before the planned update, according to the blockchain explorer platform Nodes Guru.
Additionally, dYdX attested to the chain’s problem and reported that its team debugged it at 6:50 UTC. Still under investigation, the team stated that a resolution may not occur for some time. They penned:
“The issue continues to be investigated. It’s been agreed to reconvene with the validators around 15:00 UTC. This means that the devs won’t suggest a workaround or a fix until then so that the validators won’t get jailed for not being online when the chain restarts.”
Proposed on February 21, the protocol upgrade featured changes about Cosmos, risk and safety, and order book features.
The dYdX community recently accepted the staking of 20 million coins, which is when the outage occurred.
The dYdX community decided on April 6 to approve the staking of $61 million worth of Treasury Tokens using the Stride liquid staking protocol.
As dYdX pointed out, the action comes from the protocol’s increased trading activity. They stated that “deposits to the exchange are growing at a tremendous pace, and the rate of DYDX being staked to validators has plateaued.”
In November 2023, the dYdX chain was likewise the victim of a targeted attack that resulted in losses of $9 million.
The protocol announced on January 3 that it had already identified the assailant and was considering filing a lawsuit. Additionally, it claimed to have upgraded its trading platform to better notifications and monitoring.
