Starknet-Based Paradex Perp DEX Faces Extended Maintenance After Liquidations
A Jan. 20 outage during database maintenance caused BTC price anomalies and forced liquidations, reigniting concerns about decentralization and reliability of L2 perpetual exchanges.
BTC
STRK
Summary
On Jan. 20, Paradex, a Starknet-based perpetual decentralized exchange, experienced a system outage due to database maintenance issues, leading to BTC price anomalies and forced liquidations. The team rolled back the chain to block 1604710 and restored services at 20:13. The incident has sparked community debate over the decentralization and reliability of Layer 2 perpetual futures DEXs.
Terms & Concepts
- Perp DEX: A decentralized exchange offering perpetual futures contracts that do not have an expiration date.
- Starknet: A Layer 2 scaling solution for Ethereum using zero-knowledge rollups to increase transaction speed and reduce costs.