Decentralized finance (DeFi) protocol dYdX has explained that it will look into the illustrated block production halt as the chain underwent a project upgrade. On April 8 at 5:03:00 UTC, dYdX said the modifications were pre-scheduled ongoing and may interfere with the normal dYdX Chain activities. The chain could not turn out block production after the maintenance was completed.
dYdX technical challenges and resolution efforts
At the time of writing, the blockchain explorer platform Nodes Guru shows that the latest blocks produced by the dYdX mainnet were from the time of the scheduled upgrade, five hours prior.DYdX also confirmed that the chain encountered an issue. Remarkably, the tweet also informed the public that the company’s tech support team had already engaged in effective troubleshooting efforts of the entire tech system.
“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.”
Recent developments and security measures
The update regarding the mentioned upgrade was introduced on Feb 21. It involved innovations like order book features, risks and safety measures, and the spread of Cosmos through this development. dYdX underwent a dilemma recently, during which the community approved the staking of 20 million tokens. On April 6, the dYdX community voted to allow $61 million in treasury tokens to be staked on the liquid staking protocol called Stride.
The DYdX move was shortly announced the team in light of the increased trading activity within the protocol. “Because both DYDX deposits on the exchange and validator staking have plateaued, the rate of DYDX deposits on the exchange development is showing high growth rates,” underlined. Additionally, in November 2023, the Chain of dYdX team suffered an attack that was specifically targeted and resulted in the loss of $9 million.
