trade.xyz: HOracle Contract Abnormal Liquidation Event Compensation Partially Distributed

August 1st, trade.xyz announced that it has completed the compensation distribution for the unusual pricing event of the SK-Hynix contract on July 27th. Users will receive the corresponding USDC without the need for additional steps.

The compensation was calculated with a reference price of $1115.5. Users with a balance below 10,000 USDC received the full amount, while the excess amount up to 9,999 USDC was partially distributed upfront. Users with amounts exceeding this threshold are required to contact support before August 15th to undergo further due diligence.

On July 27th at 23:01 UTC, the SK-Hynix token's price dropped abruptly from $1,127.9 to $917.25, triggering a large number of forced liquidations of long positions.