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Dynamic Federations (DynaFed)

Dynamic Federations (DynaFed for short) was a Liquid hard fork activated in October 2021.

DynaFed was one of the most significant updates to Elements and the Liquid Network, allowing a federation to seamlessly add and remove functionaries. This dynamism avoids network disruptions and provides greater flexibility, leading to a more decentralized and resilient sidechain implementation.

DynaFed was used for the first time in March 2022 to update Liquid's Peg-out Authorization Key (PAK) list.