Some people said Ostium > Hyperliquid. But this is how they’re choosing to handle the exploit they went through. 1. There’s still no concrete recovery plan for LPs, and that’s the part that matters most. No numbers, no percentage, no timeline. So what happens to the people whose LP funds are gone? Zero certainty. 2. Trader positions will be liquidated if they’re at liquidation price when trading resumes. This is the most brutal part. Traders won’t get a chance to adjust their positions to avoid liquidation. Can we even call OstiumLiquidate now? 3. Most likely they won’t cover 100% of the losses. Instead, it hangs on their partners showing up. OstiumLiquidate!

One of rebranding perp dex has gone silent (AFK) for over 30 days, it's @cascade_xyz . Cascade has been completely silent on X for over a month. For a project that’s still in the early stages, that’s a pretty bad sign. What makes it more concerning is their background. Cascade appears to be the latest project from the same team behind Perennial Labs and EquilibriaFi, with Kevin Britz linked as a co-founder across these projects. Perennial raised $12.6M from strong backers like Polychain, Variant, Archetype, and Coinbase Ventures. They ran a points program (“Petals”) that attracted decent traction, but eventually stopped delivering updates, ghosted the community, and let TVL collapse to near zero without ever launching a token. EquilibriaFi, which was also connected to the same founder, raised $1.5M and launched a token, but it has barely moved since. Now they’ve launched Cascade, which interestingly still runs on Perennial’s infrastructure. It feels less like a fresh start and more like a rebrand after failing to find product-market fit with their previous projects. Rebranding doesn’t really solve anything if the core issues, lack of transparency and inability to retain users, remain the same. At this point, the bigger question is: will they rebrand again in the future? Until they publicly clarify the team behind Cascade and show consistent execution, I’ll be staying away. Farming points on a project with this kind of history doesn’t feel worth the risk. DYOR.