What is Hxro Network (HXRO)? Project and Token Analysis

Coin: Hxro Network
Ticker: HXRO
Date Deployed: Sat Dec 16 2023

Origin of the Project

Hxro Network is a decentralized platform built on the Solana blockchain, designed to power a wide range of community-built derivatives trading and betting applications. Its primary goal is to create the most liquid markets for Solana-based assets, allowing participants in its ecosystem to benefit from the value generated. By providing the infrastructure for scalable derivatives markets, Hxro aims to be the on-chain equivalent of Nasdaq, offering fast, efficient trading solutions that match Solana’s high-speed blockchain capabilities.

One of the main challenges in the adoption of on-chain derivatives has been fragmented liquidity, which limits market efficiency. Hxro addresses this by unifying liquidity at the protocol level, allowing builders of decentralized trading applications to access shared liquidity without the need to independently source or compete for it. This innovation streamlines the process for dApps, enabling them to tap into turnkey liquidity and focus on developing better trading experiences, thus accelerating the growth of the decentralized finance (DeFi) ecosystem.

Hxro Product Features

Derivatives Trading:

Offers turnkey liquidity for on-chain derivatives through two core protocols: Dexterity and SPANDEX.
Provides essential infrastructure for risk management and scaling on-chain derivatives markets.
Enables DeFi developers to build CLOB-based derivatives applications with a focus on superior user interfaces and experiences.

On-Chain Betting:

Supports a wide range of betting markets, including gaming, sports, crypto, and event-based markets, using the Parimutuel protocol and sAMM.
Creates an efficient and transparent on-chain betting ecosystem by leveraging its liquidity and infrastructure, addressing inefficiencies found in traditional betting markets.

Should HXRO Be in Your Portfolio?

Before you decide whether or not to add HXRO to your portfolio, click here to scan the contract on Solsniffer. Solsniffer is the number one blockchain intelligence tool to detect security risks on Solana. Security risk analysis on Solana has never been easier. Make sure to be aware of potential DeFi wallet scams and other crypto security concerns before investing.

Key Tips to Consider Before Trading or Investing in HXRO

Reviewing the whitepaper. This will give detailed insights into the project’s goals, technology, and roadmap. A well-written whitepaper outlines the problem the project aims to solve, how the token functions within its ecosystem, and the long-term vision. If the whitepaper is vague, overly technical without substance, or lacks clear explanations, it can indicate a poorly structured project. Understanding the whitepaper helps traders and investors determine if the project is viable.

It is also important to check the development team’s background and track record because they reveal the credibility, expertise, and past successes of team members. A team with a proven history and good reputation of delivering successful projects in the Solana industry is more likely to build other sustainable projects. An inexperienced team can be a red flag.

Use appropriate risk management strategies when trading or investing in a Solana project to protect your portfolio from significant losses. One key approach is establishing clear entry and exit points before investing. This means deciding in advance the price at which you’ll buy into a project and when you’ll sell, either to lock in profits or minimise losses.

Additionally, diversifying your investments across multiple projects rather than placing all funds into one asset further reduces risk. By spreading your investment across different projects, you minimise the impact of any one project failing or experiencing a significant downturn.

Emotional decisions often lead to poor timing and significant losses. For more stable, long-term gains, avoid the Fear of Missing out (FOMO), which can drive investors to chase hype without proper research, only to experience sudden downturns due to irrational and impulsive decisions.

How to Scan HXRO on Solsniffer

Copy the HXRO contract address: HxhWkVpk5NS4Ltg5nij2G671CKXFRKPK8vy271Ub4uEK
Open the Solsniffer website and paste the address in the search bar.
Within seconds, a detailed analysis of HXRO on-chain data is generated.
A security score called Snifscore also ranks the project out of 100 to determine the authenticity of the project.

HXRO Tokenomics

Total Supply: 1,000,000,000
Max Supply: N/A
Market cap: $4,968,902

Snifscore Analysis

Snifscore: 62/100
High-risk factors: 5
Medium-risk factors: 2
Low-risk factors: None

Summary of (5) Contract Passed Indicators

No auto-freeze risk
No permanent control risk
No concerning metadata found
Adequate liquidity levels
All liquidity pools known

Summary of (7) Contract Risks to Consider

Mintable risk detected – High Risk
Private wallet holds significant supply – High Risk
Top 10 wallets hold significant share – High Risk
Top 20 wallets hold significant share – High Risk
Large portion of LP is unlocked – High Risk
Metadata mutability risk – Moderate Risk
Low LP provider count – Moderate Risk

Spot if HXRO Is a Scam Token

Transparency provides investors with clear insight into the project’s goals, technology and financials. This openness reduces the chances of fraud, promotes accountability, and builds trust with the community.

Team identity can also help identify potential crypto scams because it reveals whether the project’s leaders have credible backgrounds. Anonymous or fake teams raise red flags, while established and reputable individuals on the team attract support from the community.

Scam projects often use hype and flashy marketing to attract investors without offering real value or purpose. They focus on creating excitement rather than addressing a genuine problem or providing a necessary solution. If a project struggles to explain its purpose or the need for its token clearly, it may lack substance, and investors might be scammed down the line.

Staying vigilant and conducting thorough research will help you avoid most crypto scams, as fraudulent projects often exploit investor excitement and lack of information. Additionally, protecting your assets by using wallet security best practices, such as enabling two-factor authentication and storing private keys securely, can reduce your risk.

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