Hxro Network Announces $34M Strategic Round Co-Led by SIG DT, Jump Crypto and Blockchain Capital

2021-11-30 19:34

Hxro Network , a derivatives primitive built on the Solana blockchain, today announced the closing of a $34 million strategic funding round co-led by SIG DT Investments Jump Crypto, and Blockchain Capital.

The $34 million HXRO token round was backed by a marquee list of principal trading firms including SIG DT, Jump Crypto, Alameda Research, Chicago Trading Company, and Pattern Research as well as venture participation from Blockchain Capital, Solana Ventures, Coinbase Ventures, Commonwealth Asset Management, CoinFund, Genesis, LedgerPrime, Mantis, and Magnus Capital.

The round follows a $15 million HXRO token deal earlier this year that brought Commonwealth as well as notable macro hedge fund managers Alan Howard and Louis Bacon to the Network.

Hxro Network is a liquidity, risk, and margin primitive for risk-based applications built on the Solana blockchain. It provides critical support for a full suite of on-chain derivative markets. Solana is a key component to the Network, providing censorship-resistant infrastructure with the speed and low marginal transaction costs needed to facilitate derivatives markets at scale.

The Network protocols provide open solutions enabling market makers, traders, operators, and other network participants to quickly create and connect to globally aggregated liquidity. These protocols combine the risk, margining, clearing, and capital efficiencies of centralized derivatives with the open, trustless, and censorship-resistant elements of DeFi. 

The Network plans to initially support markets for the most well-known crypto-assets, and will later agnostically extend to markets for any high-fidelity data supplied by network-approved oracles. This scope enables the Network to provide the underlying market infrastructure for everything from crypto and traditional assets to live in-play sports wagering and other event-driven markets.

Dan Gunsberg, Co-Founder of Hxro Network, commented on today’s news: “The notional size of incumbent derivatives markets is still many times that of what is available in DeFi. The mission of Hxro Network is to change that in a way where all market participants, no matter the size of their contribution and participation, can benefit. Today’s announcement is further validation of Hxro Network’s community-based vision to build the most robust and scalable decentralized derivatives primitive available in the marketplace. We’ve coordinated some of the most experienced participants from both traditional and crypto markets to participate in the design and build of the network’s most critical foundational elements. Under normal circumstances these teams would be incredibly competitive with one another. However, they all share a common goal of unlocking the frictions that exist in incumbent markets and creating an open marketplace through the application of decentralized technology. As a community, we are creating a very powerful foundation for decentralized derivatives to scale and become a significant part of the fabric of the global derivatives landscape.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

RoundCoin (ROUND) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ROUND

sig blockchain hxro co-led network strategic round

sig blockchain → Результатов: 7


Second State raises $3 million to grow its enterprise smart contract platform

Second State raises $3 million to grow its enterprise smart contract platform » CryptoNinjas Second State, a developer of an open-source blockchain smart contract platform for enterprises, announced it has raised $3 million in Series A funding from a number of top venture capitalists and angel investors, led by Susquehanna International Group (SIG).

2019-7-24 20:15