Decentralized exchange Oxium, operating in the Sei blockchain ecosystem, announced the cessation of its activities. The platform's frontend interface will close on August 1 — users are advised to withdraw their assets before that date. After August 1, clients will still be able to retrieve funds, but this will require manual operations on the blockchain without the familiar user interface, the project team reported. The team cited a critical drop in revenue as the main reason for the cessation of operations. The company assured that all funds deposited by users will remain safe and under their full control throughout the entire process of winding down operations.