September 3, 2020 — Hxro, the gamified crypto trading platform that offers users new and innovative ways to play the markets, today announced plans to launch a series of Asia-focused trading products on Nervos, China’s leading public blockchain project. Building on Nervos will allow Hxro to bridge its centralized trading platform with its upcoming roster of DeFi products for the Asian marketplace, beginning with a fully decentralized version of its core pari-mutuel market products.
“Asia’s strong gaming and trading culture coupled with the region’s growing crypto adoption makes it an especially attractive market for our next expansion,” said Dan Gunsberg, CEO and Co-Founder of Hxro. “Building on Nervos marks the beginnings of our mission to introduce fully on-chain Hxro products to the China and Southeast Asian marketplace.”
Hxro will adapt its existing trading platform with a new UI and feature set to provide Asian users with a truly localized user experience. The Asia-adapted platform will borrow many of the core features already popular with Hxro users like ‘MoonRekt,’ a gamified trading system that lets traders take bullish or bearish positions in widely-traded, standardized time frames.
To achieve true decentralization at scale, Hxro will build and launch its new products on Nervos to leverage its unique layered architecture. The Nervos layer 1, a Proof of Work-based public blockchain, will provide Hxro with a trustless environment ideal for asset and data security. Assets will be verified and all data stored on the layer 1 blockchain. Nervos’ layer 2 will enable Hxro to remove transactions from the core layer for greater efficiency and limitless scalability. All user transactions will take place on the Nervos layer 2. With this layered approach, Hxro will be able to run its products efficiently on chain without compromising security or scalability.
“The DeFi space is ripe with opportunity, but there are still some roadblocks to widespread adoption like the complexity of solutions currently on the market,” said Nervos Co-Founder, Kevin Wang. “Similar to Hxro, we believe designing DeFi products to be more approachable for the mainstream audience is an important step in moving the industry forward, so Hxro is an exciting addition to the Nervos ecosystem.”
By operating critical functions on the blockchain, Hxro’s Asia-focused trading platform will better preserve user security and privacy while also providing greater transparency with all transactions recorded on chain. As the platform scales, decentralization will ensure there is no single point of failure. For the Nervos community, a core feature of the collaboration is the decentralization of Hxro liquidity pools across multiple networks. Nervos CKB holders will benefit from liquidity that already exists across the current Hxro pari-mutuel marketplace.
Hxro’s collaboration with Nervos provides a unique example of a centralized trading platform bridging DeFi solutions to create a trustless, secure and scalable solution for its global user base. This is the first in a planned series of product releases for Hxro designed specifically to bolster its Asia user base and expand its presence in the region.
Gunsberg added, “The entire team at Nervos has been extremely impressive; far and away some of the most talented engineers we have worked with to date. Their reputation in the region is unparalleled and we are excited to scale the Hxro offering through their technology.”
Hxro is a cryptocurrency trading platform that sits at the intersection of trading and games. It offers an alternative way for traders to play the market through innovative products that are fair, highly intuitive and easy to engage.
The Nervos Network is a collection of protocols and public blockchain ecosystem aiming to solve the biggest challenges facing blockchains like Bitcoin and Ethereum today.
The Nervos Common Knowledge Base (CKB) is the layer 1, proof of work, public permissionless blockchain protocol of the Nervos Network. It allows any crypto-asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. Its unique crypto-economic model is designed to better align the interests of users, developers, and miners as compared to first-generation blockchains.
For more information on Nervos, visit www.nervos.org