On this episode of the DIVI Crypto Podcast, Steve sits with Dan Gunsberg (Gunny), the CEO and Co-founder of HXRO, to talk about Moon Rekt. Moon Rekt is a game with a unique Miami vice-style design that is a platform for betting about the price changes in cryptocurrency per time. HXRO currently has a globally distributed team of up to twenty people and up to 200,000 registered users.
Gunny’s Crypto Story
Gunny started trading in 1994, even before the onset of electronic trading; he later became a proprietor trader when e-trading began. In 2013, while hiring a high yield index trader, Gunny had a conversation about bitcoins, and in 2014, he started looking at investing in crypto. After forgetting about it till 2015, he noticed the spike in cryptocurrency’s price and became more active in it.
In 2017, Gunny decided to go into crypto trading full-time and noticed the lack of camaraderie and emotional elements in the crypto space. The need to do something about this observation was the origin of Moon Rekt. They built it in 2018 and launched it in 2019; since then, Moon Rekt has been Gunny’s full-time crypto endeavor.
How MoonRekt Works
First, the HXRO platform is transparent and tries to take a more personal approach to derivatives and trading. It isn’t available in the United States due to prohibition laws, so there is geofencing to prevent USA participants from joining.
As a user, you determine whether the candle will be green or red in say, five minutes. If the market price is higher, it points towards the moon, and if lower, towards Rekt. No matter the value of change ($1 or $1,000), you get rewards paid for correct “predictions.” It has no market orders, liquidation, or leverage to minimize risk while getting market exposure.
New Plans for HXRO
Their product is familiar with a centralized exchange because of some prohibitions based on the platform’s transactional nature. They announced a partnership with Nervos to launch Defi. They are also launching two new products on the market soon.
Follow HXRO on Twitter