Extended review of the Starknet downtime incident
· During the downtime, transactions were running normally, but users experienced significant delays in deposits and withdrawals
· Over 150,000 settlement events accumulated, all successfully settled after coming back online
· In the future, we will collaborate with @StarkWareLtd and @rhinofi to implement logic to handle deposits and withdrawals, unaffected by failures.
Yesterday, between 2:20 AM UTC and 2:00 PM UTC, @Starknet experienced downtime. This served as one of the first major stress tests for @extendedapp's settlement logic. I’ll let @StarkWareLtd share their incident report, and focus only on impact on @extendedapp.
During this downtime:
1. Extended trading remained fully functional without interruptions, though users experienced significant delays in deposits and withdrawals.
2. Extended accumulated a settlement queue of over 150,000 events, which were successfully settled without a single error once Starknet came back online.
Going forward, together with @StarkWareLtd and @rhinofi, we’ll be implementing logic to process deposits and withdrawals even in the event of Starknet outages.
It’s also worth noting that with Starknet’s latest network upgrade, missed by many users due to the downtime, the network decentralized its sequencer, becoming the first decentralized ZK rollup. This milestone further enables Extended’s vision of building a trustless exchange, where neither the exchange operator nor network operators can access user funds or settle fraudulent or incorrect transactions.
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