Oxium, a decentralized order-book-based perpetual DEX on the Sei blockchain, has announced a phased shutdown of its services. According to the official statement, the decision came after prolonged unfavorable market conditions rendered the platform's revenue insufficient to cover ongoing operational costs.
The Oxium frontend interface will be taken down on August 1, 2026. Users are advised to cancel all unfulfilled orders, close all positions, and withdraw their assets before this deadline. The team emphasized that user funds have always been self-custodied and never held by the platform; therefore, even after the frontend is disabled, users can still interact directly with the underlying smart contracts to retrieve their funds.
This shutdown highlights the profitability challenges faced by order-book-based perpetual DEXs, particularly smaller platforms that struggle with liquidity and trading volume during bearish markets. Affected users should monitor official channels for contract addresses and execute asset withdrawals promptly.