Trade.xyz announced it will cover liquidation losses tied to a price anomaly on its SK Hynix perpetual contracts. The sharp move originated from an executed transaction on an external market, whose data was fed into Trade.xyz’s SK Hynix oracle. This oracle calculates the US dollar value of one SKHX share by converting the Korean won price using the prevailing exchange rate. The external price influenced the mark-price used by Hyperliquid to value positions and trigger liquidations. Trade.xyz is now considering giving more weight to prices from its own order books, which now provide meaningful liquidity and market signals.
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