Hxro is pleased to announce OpenHxro, a web3, on-chain derivatives trading interface, as the first DeFi application integrated to its on-chain derivatives network.
Composing with Hxro will allow OpenHxro user applications to utilize the Hxro primitive as its on-chain exchange, margin, risk and settlement layer.
Most trading applications available today, both CeFi and DeFi, either require several steps for the trader to execute a simple order or offer a market-order only execution solution. In both cases, this can put the active trader at a serious disadvantage.
OpenHxro is the first DeFi trading application capable of providing single-click order entry for any tradable instrument. Additionally, it displays markets in a visually simple and easy to read vertical “ladder” format. OpenHxro’s market ladders give a trader the ability to quickly enter and cancel orders with a single click. The ladder interface also gives the trader a clear visualization of market movements as bids and offers move against a static price axis. This style of UI, which has become a widely preferred interface in the traditional trading world, offers traders the ability to easily react to markets in both outright and spread trading capacities.
OpenHxro will be used as the primary trading interface for early beta testers of HXRO’s derivative protocols. Access to OpenHxro during the beta period will require that the trader’s wallet contains the Hxro beta whitelist token. In order to whitelist your wallet, please go to hxro.com and complete the steps for whitelisting.
As this is the MVP version of the OpenHxro trading application, its current functionalities will be limited to simple order entry, order cancels and other key trading and data functions. Plans for future iterations include the ability to quickly execute inter and intra-market arbitrage, automate spread trading and other strategy-based functions, drag and drop order cancel/replace and more.
Hxro is a decentralized derivatives primitive for risk-based applications built on the Solana blockchain. Through a series of native protocols, Hxro provides a primitive layer framework and infrastructure for a robust, fully-functional decentralized exchange for derivatives contracts (futures and options) and parimutuel contracts.
Hxro derivatives are facilitated through two of the network’s native protocols – Dexterity and Spandex.
Dexterity is an open-source collection of smart contracts that provides the base exchange and clearing framework for trading any instrument with a defined payoff function; this is the part of the network that handles the accounting, exchange and settlement function. To learn more about Dexterity, read the whitepaper here.
Spandex is Hxro’s customized derivatives risk engine. It is the first on-chain, real-time complex risk engine to use a portfolio risk-based approach to managing user margin, risk, and liquidations.
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OpenHxro is the first DeFi trading application capable of providing single-click order entry for any tradable instrument, displaying markets in a visually simple and easy to read vertical “ladder” format. OpenHxro is built by a team of product engineers with backgrounds in the traditional trading application space.