TradeXYZ to compensate users for liquidation losses in SK Hynix futures pair

TradeXYZ, a perpetual futures trading platform on Hyperliquid, said it will compensate users for liquidation losses caused by an abnormal plunge in the SK Hynix futures trading pair. In a post on X, TradeXYZ said the SK Hynix mark price fell to $917.25 from $1,127.9 at 11:01 p.m. UTC on July 27 as its oracle normally reflected executed prices delivered by multiple independent data providers, and the system functioned as designed. Still, citing user trust, the platform said it has decided at its own discretion to make a one-time compensation payout for liquidation losses caused by the anomaly. It said detailed eligibility criteria will be disclosed later and payments are expected to be completed within days. TradeXYZ added it will improve its pricing system to better respond to extreme volatility, including by reviewing its reliance on external exchange prices and more actively incorporating price signals from its in-house order book. Separately, the Hyperliquid SK Hynix futures trading pair also saw a brief intraday plunge yesterday, triggering a cascade of liquidations in leveraged long positions.