Trade.xyz to cover SK Hynix liquidation losses

Trade.xyz said it will cover eligible liquidation losses tied to an SK Hynix price anomaly that struck at 23:01 UTC on July 27. Summary Trade.xyz will cover liquidation losses after SK Hynix’s mark price fell 18.7% at 23:01 UTC. One SK Hynix share traded 29.96% below its prior close in NXT’s thin pre-market session. Eligibility rules remain pending, while Trade.xyz plans stronger filters for rare external market pricing events. The SKHYNIX mark price fell from $1,127.90 to $917.25, an 18.7% decline that triggered forced closures of leveraged long positions. The company called the reimbursement a one-time discretionary decision rather than a promise of similar action during future market disruptions. It has not disclosed the total compensation amount, eligibility formula or an exact distribution date. Trade.xyz said requirements will be released soon and payments should follow in the coming days. Hyperliquid had earlier said the market was independently deployed and operated by Trade.xyz, which was investigating the event. That distinction matters because HIP-3 allows external builders to define and maintain market-specific pricing inputs rather than relying entirely on validator-op...