Perpetual DEX Paradex announces temporary maintenance amid community rumors of a major protocol vulnerability

BlockBeats News, January 19, according to official website information, Starknet ecosystem Perp DEX Paradex has announced temporary maintenance. Although the estimated maintenance completion time has passed, the protocol is still not online.

According to community feedback, some users' perpetual contract trades on Paradex were forcibly liquidated due to abnormally high funding rates.

Public information shows that Paradex is a decentralized perpetual derivatives Layer2 application chain, combining the liquidity of crypto institutional platform Paradigm with the transparency and self-custody of DeFi. It will operate as its own chain based on the Starknet developer stack, and is the result of a six-month ongoing collaboration between StarkWare and Paradigm.