Based on the "Hxro Network" of Solana ecology, I want to be the leader of DeFi options
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | Odaily
Author | Qin Xiaofeng
Editor | Hao Fangzhou
Produced | OdailyHxro Network Options, as one of the important means of risk hedging, have become more and more important in the encryption market.
The data shows that in 2020, the trading volume of Bitcoin and Ethereum options has repeatedly hit new highs-among them, the open interest of BTC options has increased by up to 6 times, and the open interest of Ethereum options has increased by nearly 70 times. The ever-increasing data confirm that the options market is in high demand, and encrypted options will surely become a major trend in the future market.
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The project aims at the decentralized options market. Hxro Network is a decentralized liquidity network built on the Solana blockchain, with three main products:
Vanilla Options: cash-settled European standard call options and put options, which are no different from options on traditional options trading platforms;
Exotic Options: Non-standard options different from traditional options, whose expiration date, strike price, underlying assets, etc. can be customized according to the needs of investors;
Parimutuel Markets: Point-to-point, double-outcome event market, all positions are brought together, and the winners share the pool in proportion. It is essentially a binary option, and its application scenarios include trading, prediction markets, and sports betting.
On October 29, Parimutuel Markets launched Solona Devnet (test network); however, ordinary options and exotic options are still under development and have not yet opened.
For derivatives such as options, the most important thing is liquidity (depth). Hxro Network's solution is to introduce an automatic market-making protocol that introduces dynamic pricing and liquidity risk management issues, and integrates it with traditional market-making participants. combined to propose a commercial-grade liquidity solution and allow anyone to participate in providing liquidity to the network.
Specifically, in Hxro Network, there are two liquidity protocols: SAMM Protocol and THEO Protocol. Among them, the SAMM protocol is a "smart" AMM designed to provide on-chain liquidity to the binary options market; THEO is a self-sustaining risk management AMM that specifically provides on-chain liquidity for common and exotic options.
In addition, Hxro Network will also merge with Serum to integrate its order book, spot and perpetual markets (for liquidity agreement hedging), etc.
In terms of tokens, the native token of Hxro Network is HXRO Token, which was issued in February 2019 with a total circulation of 1 billion (420 million in circulation), and the current market value in circulation is nearly 200 million US dollars. The main functions of HXRO Token are: on-chain governance, Stake pledge, transaction fee discounts, and network incentive rewards.
