Original | Odaily Planet Daily ( @OdailyChina )
Author: Azuma ( @azuma_eth )
dYdX has gradually completed its migration to the Cosmos ecosystem application chain dYdX Chain through version v4, and the dYdX v3 version also came to an end on October 28. The Layer 2 network used by this version has now been shut down and all transactions have been suspended.
However, L2B EAT data shows that as of the shutdown of the Layer 2 network used by dYdX v3, there is still more than $70 million in funds that have not been withdrawn...
Fortunately, for a Layer 2 network this does not mean permanent loss of funds - dYdX v3 uses StarkExs Layer 2 solution, which has a built-in protection measure called Escape Hatches, which allows users to forcibly withdraw funds from the corresponding account on Layer 2 at the Layer 1 level (i.e. the Ethereum mainnet) , just like the current situation faced by dYdX v3.
Odaily Note: L2B EAT explained that the Escape Hatch mechanism is only applicable to non-general Layer 2 (Layer 2 without smart contracts) such as dYdX v3. For other general Layer 2s that support the Escape Hatch mechanism, more powerful options are needed, including decentralized sorters and forced transactions.
Back to the case of dYdX v3, since the use of Escape Hatch by oneself requires providing a Merkle proof to verify the asset status, in order to facilitate users to withdraw funds more efficiently, L2B EAT created an open source StarkEx browser ( https://explorer.dydx.exchange/ ) to facilitate users to access Escape Hatch more directly .
As for the specific withdrawal operation, users must first enter the StarkEx browser, then link the wallet (upper right corner), then find the token assets that can be withdrawn to Layer 1 in the Assets column, and then click Escape to start the withdrawal process.
The entire withdrawal process requires the completion of three transactions, namely Initiate Escape, Finalize Escape and Withdraw Funds.
Initiate Escape: Clicking Escape will direct you to the Escape initialization screen, which will outline the entire process. You will then need to click Initiate Escape and confirm the transaction in your wallet. Gas may be expensive at this step.
Finalize Escape: After the previous transaction is confirmed, a new Pending Escapes information bar will appear when you return to the user page; you need to click Finalize Escape in this bar and confirm another transaction;
Withdraw funds: After the previous transaction is completed, return to the user page and the Withdrawable Assets information column will appear. At this time, click Withdraw now and confirm the transaction to withdraw the funds to the original Layer 1 account.
Odaily Note: For detailed operation procedures, please refer to the instructions provided by the StarkEx browser: https://explorer.dydx.exchange/tutorials/escapehatch
After the withdrawal transaction is initiated, the user can view the status of the fund withdrawal in real time through the browsers homepage in order to perform the next step.
It is worth mentioning that the Escape Hatch function is completely permissionless, which means that users can not only withdraw their own funds, but also help other users to perform withdrawal operations . However, this does not mean that you can get other people’s assets. Assets returned to the Layer 1 network will only be returned to the corresponding Layer 1 address.
Another point to note is that since the Escape Hatch function needs to interact with the Ethereum contract and needs to provide a Merkle proof to prove the ownership of funds, some transactions need to be executed to implement this function. The amount of data and logic required to process these transactions is large, so their gas costs may be very high - this means that before a Layer 2 is closed, you should withdraw funds as early as possible before the official downtime, and try to avoid using Escape Hatch as the last insurance path.
In summary, the existence of Escape Hatch proves a unique advantage of the Layer 2 network, that is, the security of assets is always guaranteed by Ethereum, and funds can be forcibly withdrawn even if it stops operating. This is a feature that other Layer 1 networks can never promise.
