Project Insight: HXRO Options Platform

HXRO looks to join the Solana ecosystem as a premier options trading platform that offers covered-calls and other hedging options. With plans to work in conjunction with Serum, HXRO seems well-poised to make a name for itself on the Solana blockchain.

By
Solana News
on
April 25, 2021
Category:
Project Insight

Introduction

For many people who are interested in trading there are too many complex decisions to be made. When faced with attempting to leverage speculative gains and other unfamiliar terminology, most inexperienced investors will become overwhelmed. This is where the genius of HXRO comes in, as the trading platform has simplified these choices to an extreme. On February 5th, HXRO announced a partnership with Solana blockchain, allowing them to begin working towards full decentralization. HXRO looks to join the Solana ecosystem as a premier options trading platform that will enable users to engage in European-style standardized options market covered-calls and other hedging options. With plans to work in conjunction with Serum, HXRO seems well-poised to make a name for themselves on the Solana blockchain. 


What is HXRO?

HXRO is a trading platform that is set to become its own decentralized network on Solana. HXRO has innovated how users made trades by simplifying things to the bare minimum with their MoonRekt bitcoin game project, and has now launched TixWix in a partnership with FTX. TixWix are remarkable for their unique UI that makes trading a straight-forward process. The team has also developed the THEO protocol, giving users even more options for trading.


HXRO: Trading Made Easy

  • Wix - Users simply select whether a coin will reach a certain value on a certain date, made simple by the card system employed. The name Wix is derived from the candle that burns indicating the currency’s price. Users place a small amount forward as leverage, which can either be multiplied by a successful card or ruined by a bad prediction.
  • Tix - This is a slightly more risky game where players are guessing on market share closing values on a certain date. Users have a higher risk of failing this prediction due to the speculative nature of markets, but can win much higher rewards if they choose correctly.
  • THEO - An option protocol that will enable full-scale standardized options trading. The planned decentralization of these markets will enable users more options and will increase the security of their transactions. This will include decentralized a European style standardized options market.


Key Features

  • Ease of Use - HXRO offers users a very quick and easy way to make complex trades. 
  • Card System - Users are presented with cards that have variables on them, which they can choose to play.
  • Variety - HXRO allows users to put as much value as they want to on the card, meaning they are able to have a wide portfolio of potential gains.


Project Components

HXRO is a platform that was first recognized for their Bitcoin-prediction gaming protocol MoonRekt. In order to comply with gambling regulations, HXRO games exclusively use their native token for trading. Users are required to own at least 1 HXRO in order to participate in the trading games. By joining the Solana blockchain, HXRO hopes to become fully decentralized. This will allow them to become an open-source market, as well as providing further enhancement to trading mechanics through access to Serum. HXRO unfortunately exists in a gray area in U.S and Canadian law, which will force users in those companies to face restrictions due to gambling laws. Through gamifying trading, HXRO is able to reach a broader audience who would normally be wary of trying to play the market.


Tokenomics

  • Market Cap (as of April 22nd): $128,773,915

  • Fully Diluted Market Cap: $570,347,257

  • Circulating Supply: 224,693,272

  • Total Supply: 1,000,000,000

From CoinMarketCap


Roadmap

HXRO looks to continue to build their network into a dominating trading presence on the Solana blockchain. They have partnered with professionals in the gambling and gaming industries to make sure that they can continue to build a legal project. The decentralization of HXRO will provide opportunities for future partnerships with other projects on the blockchain.


Concluding Thoughts

HXRO is an innovative take on trading that could see massive growth on Solana. The team’s approach to creating a seamless trading experience is excellent, and seems to play well in the long term. The main question regarding HXRO is its legality in America, which has no bearing on any users from other countries. HXRO is poised to take big steps forward in a market full of young and inexperienced investors who will be drawn to their unique system.

Tags:
No items found.
Solana News

Solana & DeFi Latest News, Features & Analysis.