dYdX is a leading decentralized exchange that currently supports perpetual trading. The exchange runs on smart contracts on the Ethereum blockchain and allows users to trade with no intermediaries. Early Monday morning, dYdX encountered a long halt lasting 9 hours and 32 minutes. This major outage was a consequence of a scheduled v4 upgrade to the chain.

Following approximately nine and a half hours of downtime, dYdX implemented a fix for the software bug, allowing enough validators to engage, consequently enabling dYdX to recommence block production midway through Monday. The root cause of the chain halt was said to be the incorporation of an incorrect version of a bug fix from Cosmos’ IAVL library into the dYdX software release. This resulted in corruption within the network’s state during the upgrade process. Read more about this story on our LinkedIn page