The design behind Hxro was inspired by legacy financial markets and merged with social gaming layers to provide users with an alternative to trading crypto assets. One of Hxro’s unique attributes is that its core products are parimutuel, meaning they aggregate all positions into a liquidity pool with winners (in-the-money positions) sharing the pool at expiration. This creates a wide array of payoff possibilities for the user base.
The team believes both traditional and crypto trading venues lack the ability to provide users a welcoming and well-rounded experience. The mission is to improve this experience by applying game and meta-game layers to our platform as a way to soften some of the sharp edges that are historically presented by early crypto derivatives exchanges.
Hxro launched in January 2019 with its flagship product, MoonRekt. Along with enhancing the MoonRekt product offering, they plan to expand the platform's global opportunity set to more products designed to provide users an easier and more digestible way to interact with the market.
MoonRekt is a perpetual chain of time-based digital options with a pari-mutuel payoff mechanism. It is peer-to-peer and does not require market makers/takers or interacting with traditional bid-ask order books.
Applying parimutuel technology to digital markets creates an environment that distills trading down to what the platform calls "Moon," where the asset goes higher, or "Rekt," where the asset goes lower. The payoff mechanism is then binary where the out-of-the-money positions pay in-the-money positions.