MoonX

About MoonX

MoonX, operating under moonx.pro, was established in 2018 as a financial technology firm based in Geneva, Switzerland. The company was founded by Nithin Palavalli, who served as CEO, and Tony Lee, the Founding Financial Controller. MoonX aimed to address the cryptocurrency market with a high-speed, secure, and scalable trading platform.

The company's core offering was a decentralized hybrid exchange platform engineered for institutional and retail traders. This platform was designed to handle cross-asset trading, supporting not only digital assets but also traditional financial instruments like commodities, stocks, bonds, and derivatives. A key technical claim was its electronic trading software's capacity to process up to 20 million transactions per second, a feature intended to attract high-frequency traders. The business model was based on a transaction fee, charging 0.1% of the trade volume. Additionally, the company planned for its token holders to receive dividends and have voting rights.

MoonX secured significant financial backing, raising a total of $27 million over two funding rounds in 2018. Notable investors included BITMAIN and IDG Capital. Despite its ambitious technology and funding, the company ceased operations, with its status listed as deadpooled or out of business as of late 2022.