DYdX community to vote on $462K payout proposal following outage

The eight-hour outage occurred during the largest liquidation event in crypto history, prompting dYdX to propose community-governed reimbursements from its insurance fund.

Decentralized exchange dYdX released a post-mortem and community update detailing plans to compensate traders affected by a chain halt that paused operations for roughly eight hours during last month’s market crash.

The exchange said on Monday that its governance community will vote on compensating affected traders with up to $462,000 from the protocol’s insurance fund.

DYdX wrote that the Oct. 10 outage stemmed “from a misordered code process, and its duration was exacerbated by delays in validators restarting their oracle sidecar services.” According to the DEX, when the chain resumed, “the matching engine processed trades/liquidations at incorrect prices due to stale oracle data.”

Read more