Hxro Network, one built on Solana Blockchain, Announced today that it is closed $34 million A strategic financing round jointly led by SIG DT Investments (Susquehanna International Group), Skip encryption, And blockchain capital.
this $34 million Hexrov The token round was supported by a series of major trading companies including SIG DT, Jump Crypto, Alameda Research, Chicago Trading Company and Pattern Research, as well as from Blockchain Capital, Solana Ventures, Coinbase Ventures, Commonwealth Asset Management, CoinFund, Genesis , LedgerPrime, Mantis and Magnus Capital.
The latest round to follow 15 million USD The HXRO token transaction earlier this year brought Commonwealth and well-known macro hedge fund managers Alan Howard with Louis Bacon To the Hxro network.
As a liquidity, risk and margin platform for risk-based applications based on the Solana blockchain, Hxro supports a full range of on-chain derivatives markets. Solana is a key component of Hxro, providing a speed and low-cost anti-censorship infrastructure to promote the scale of the derivatives market.
Hxro’s protocol provides open solutions that enable market makers, traders, operators, and other network participants to quickly create and connect to global aggregated liquidity. These agreements combine the risk, margin, clearing and efficiency of centralized derivatives with the open elements of DeFi.
Initially, the Hxro network will provide support and establish a market for the most famous crypto assets. Subsequently, the network plans to agnosticly expand any high-fidelity data provided by network-approved oracles to the market. The above settings enable Hxro to provide the basic market infrastructure of encrypted and traditional assets for sports betting and other event-driven markets.
In addition, Hxro will use a unique staking protocol to promote network governance, liquidity incentives and rewards. The value of HXRO’s tokens will mainly come from fees generated within the network. 100% of the value of the Hxro network will be attributed to the pledged HXRO token holders, professional node operators, network funds, and a pool of developers that are critical to network functions.
In addition, the Hxro network will include Pyth network As its main data oracle, it can also be easily combined with Project Serum’s order book.In addition, Hxro will integrate Civic, Which will provide the key original layer of compliance architecture.
From next month to the first quarter of 2022, the Hxro team will roll out v1 network components to the Solana mainnet. This includes odds markets, continuous and quarterly futures, perpetual contracts and options.