Crypto trading platform Hxro has raised $15 million in a token sale to hedge fund Commonwealth Asset Management, according to a press release.
In addition to supporting derivatives trades and betting markets, Hxro has its own -based networktoken, HXRO. Token holders can use it to get rebates and rewards while trading on the Hxro platform.
The going rate for HXRO tokens is currently $0.75, a 14% increase over the last week.
Hxro made its name with Moonrekt—a kind of online game built around betting whether an asset will “moon” and increase in price over a predetermined timeframe or get “rekt” and decline in value. The company also offers an investment product called TixWix, geared toward the retail market; it operates via a partnership with FTX, the exchange run by crypto wunderkind Sam Bankman-Fried.
Commonwealth, based out of Los Angeles, has ties to prominent investors Alan Howard and Louis Bacon, both of whom recently invested in forthcoming EOS-based exchange Bullish Global.
“Having been active in financial markets over the last 20 years, we think a liquid options market is the next step in the evolution of decentralized crypto trading and the network is extremely well positioned for success,” said CIO Adam Fisher.
Published at Wed, 02 Jun 2021 00:58:03 +0000