Crypto buying and selling platform Hxro has raised $15 million in a token sale to hedge fund Commonwealth Asset Administration, in keeping with a press launch.
Along with supporting derivatives trades and betting markets, Hxro has its personal -based community token, HXRO. Token holders can use it to get rebates and rewards whereas buying and selling on the Hxro platform.
The going charge for HXRO tokens is at present $0.75, a 14% enhance during the last week.
Hxro made its identify with Moonrekt—a type of on-line sport constructed round betting whether or not an asset will “moon” and enhance in value over a predetermined timeframe or get “rekt” and decline in worth. The corporate additionally provides an funding product known as TixWix, geared towards the retail market; it operates through a partnership with FTX, the trade run by crypto wunderkind Sam Bankman-Fried.
Commonwealth, primarily based out of Los Angeles, has ties to outstanding buyers Alan Howard and Louis Bacon, each of whom just lately invested in forthcoming EOS-based trade Bullish World.
“Having been energetic in monetary markets during the last 20 years, we expect a liquid choices market is the following step within the evolution of decentralized crypto buying and selling and the community is extraordinarily nicely positioned for achievement,” mentioned CIO Adam Fisher.
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