The community exchange powering Solana derivatives liquidity
Hxro Network is an exchange powering a diverse set of community–built trading applications on Solana. The network aims to create the most liquid derivatives markets for Solana-based assets while enabling its ecosystem to participate in the value it accrues.
Derivatives Trading at the Speed of Light
An original tenet of Solana as told by its founder Anatoly Yakovenko was "Nasdaq settling at the speed of light," referencing the blockchain’s innate ability to provide a low-cost, high-throughput solution that could compete with the largest incumbents in global financial markets.
The multi trillion-dollar global derivatives market is a prime candidate for disruption by what Solana has accomplished. Low transaction costs enable accessibility for a broader range of participants, fostering a more diverse market and increasing liquidity, while speed ensures that traders can swiftly react to market fluctuations, execute trades promptly, capitalize on split-second opportunities, and minimize exposure to potential losses.
The combination of enhanced affordability, speed, and transparency that Solana offers was purpose-built to turn the derivatives industry on its head, enabling builders to deliver solutions that challenge their traditional counterparts. However, there is a major hurdle to maximizing this opportunity that needs to be addressed. This is where Hxro Network comes in.
Solving On-Chain Liquidity Fragmentation
If Solana aims to deliver Nasdaq at the speed of light, Hxro aims to be its derivatives counterpart: the premier on-chain infrastructure facilitating derivatives markets at scale.
A major issue that has stunted the growth and adoption of on-chain derivatives markets thus far is fragmented liquidity. When a market has multiple venues, each carrying its own isolated version of the same product, it becomes very challenging to capture the reflexive nature of market liquidity. Thin liquidity on multiple, isolated markets has prevented larger participants from meaningfully engaging whether due to high slippage (large variance between expected price and execution price), or an inability to efficiently execute large orders.
Hxro solves this issue by unifying liquidity at the protocol level. Builders of on-chain trading dapps no longer need to source or compete for liquidity to provide in their order books. By composing with Hxro’s markets, trading dapps can instantly source turnkey, shared liquidity. This is what Serum initially solved for on-chain spot markets on Solana, and what Hxro has now solved for derivatives markets such as perpetual and expiring futures.
Rebuilding Better: Purpose-Built By Industry Veterans
Hxro Network was co-founded by veteran traders with decades of experience across traditional and decentralized derivatives markets. From day one, the network has been supported by contributors from several of the largest trading firms in the world. All components of Hxro Network were thoughtfully constructed off the foundation of intimate, end-to-end knowledge of derivatives market infrastructure.
Collectively, Hxro contributors combined their domain knowledge of established traditional market infrastructure and merged it with the advancements of on-chain architecture to create the protocols that underpin the network.
A Community-Centric Model
Hxro Network amplifies opportunities for traders and builders alike by allowing them to participate in its growth and the value it creates. This is powered by the network's staking program, as well as several network-level incentive programs that offer rewards to those who contribute to the growth of the ecosystem.