Trade.xyz announced it will cover losses suffered by traders following an unusual external price print of SK Hynix that caused the perpetual contract's mark price to plunge nearly 19%. The firm stated its oracle system functioned correctly despite the sharp drop triggered by the price anomaly.
According to Trade.xyz, the unexpected external price feed caused a discrepancy that led to liquidations within the SK Hynix perpetual contract. Although the oracle behaved as intended, the company decided to reimburse eligible users to mitigate the impact of the event.
