Access to high-fidelity data is essential for carrying out Hxro’s mission to deliver permissionless, real-time, derivatives market infrastructure to the Solana ecosystem. That’s why Hxro Network is powered by Pyth Network.
Hxro core contributors came to the network with vast traditional markets expertise, which is crucial for designing on-chain infrastructure that captures both the existing benefits of centralized infrastructure and the added value of Solana. As a market data oracle, Pyth is a critical component to making this infrastructure work in an on-chain environment.
Hxro uses the Pyth oracle network to source and aggregate accurate, real-time pricing data for perpetual and expiring futures markets. Pyth has been instrumental in the success of Hxro’s USDC collateralized derivatives marketplace on Solana, playing two key roles:
- Pyth oracle prices are essential to Hxro’s Dexterity protocol as they are used in mark price derivations, price band enforcement, and more for perpetual and expiring futures
- Pyth oracle prices are consumed by SPANDEX, Hxro’s custom risk and margin engine, to aid in the calculation of portfolio value and the determination of portfolio risk for trader accounts
$PYTH Retroactive Airdrop Program
As users of Pyth Data, Hxro is proud to receive a $PYTH grant from their 2024 Retrospective Airdrop program.
The awarded $PYTH grant will allow the Hxro ecosystem to participate in Pyth governance, as well as enhance liquidity and incentives for Hxro-powered applications that use Pyth as its oracle provider. With several applications currently live or rapidly approaching mainnet launch, the network will have another resource for rewarding and incentivizing ecosystem participants.
Hxro Network contributors look forward to continued utilization of Pyth data to provide ecosystem dapps and their end users with accurate, real-time pricing.
Join the Hxro Network community Discord to keep up with the latest ecosystem developments.