dYdX experiences chain halt during upgrade, engineers are investigating

The Decentralized Derivatives Exchange Protocol dYdX DYDX

+4.12%
a chain stop occurred during a scheduled upgrade.

The outage has lasted since 6:50 a.m. UTC, one said police report. On a chain facts shows that block production appears to stop shortly afterwards, with dYdX engineers currently debugging the issue.

The incident represents the first major outage for the protocol since dYdX version 4 and the standalone Cosmos blockchain launched on mainnet in October, according to its status page.

The dYdX Chain is scheduled to undergo the v4.0.0 protocol upgrade today, which could potentially disrupt functionality. The scheduled maintenance was completed by 06:30 UTC. However, the chain stopping problem started 20 minutes later.

In a status update at 9:21 a.m. UTC, dYdX said the issue was still being investigated and that it has been agreed that network validators will reconvene at 3:00 p.m. UTC.

“This means that the developers will not propose a fix or workaround until then, so that the validators don’t end up in jail for not being online when the chain restarts,” the team said. When a validator is ‘jailed’ it means that he is temporarily banned from participating in the network activities.

The incident does not appear to have affected the price of the dYdX token, which has risen more than 4% in the past 24 hours, according to The Block’s price page.

The dYdX team did not immediately respond to a request for comment from The Block.