Ostium will resume trading on July 23, and the protocol will restore its functionality in phases

PANews July 22 news: Ostium, a perpetual contract DEX on Arbitrum, announced that it will restart trading on Thursday, July 23 at 10:00 a.m. Eastern Time. All open positions and pending orders will be retained as-is. They will be re-marked and assessed based on the real-time market prices at the time trading resumes to determine whether liquidation or take-profit/stop-loss will be triggered. The protocol will restore functionality in stages. Initially, only “position-reducing” operations will be enabled, including closing positions, adding margin, modifying or canceling orders, as well as automatic take-profit/stop-loss and liquidation. After the relevant pending orders have been executed, the feature to open new positions will be enabled. Ostium also announced a suspension of new OLP liquidity deposits. Withdrawals by existing LPs will be handled in the next settlement cycle, and it reminded users to watch out for scam accounts impersonating official ones, stating that it will not request private keys or seed phrases.

As previously reported last week, Ostium, the perpetual contract DEX on Arbitrum, was reportedly the target of an attack, with losses of about $18 million.