Sei ecosystem DeFi lending platform Oxium announces shutdown, plans to close front-end on August 1

CoinFeed reported on June 26 that Oxium, a DeFi lending platform in the Sei ecosystem, announced it will cease operations, citing persistently unfavorable market conditions leading to insufficient revenue, making its current operations financially unsustainable. Oxium stated that user assets deposited on the platform remain intact and still under user control, but it hopes users will plan ahead and complete withdrawals in an orderly manner. The front-end is scheduled to close on August 1, 2026. Users are advised to cancel all outstanding orders, close existing positions, and withdraw assets from the platform.