THE FUSOTAO PROTOCOL: A BLOCKCHAIN-BASED TRADING SYSTEM WITH CUTTING-EDGE OPEN-SOURCE TOOLKITS FOR PROPERLY SUBSTANTIATING PROJECTS BASED ON ORDER BOOKS.
Introduction
Due to its indispensable role in the economy, technical advancement, and industrial transformation, blockchain technology is a cutting-edge invention that has drawn growing attention. blockchain technology is used in the crypto space, financial economy, internet of things, large data processing industry, cloud computing, edge computing, and other industries. in addition, it is well known for creating a distributed point-to-point system, a very secure and verifiable mechanism for decentralized transaction validation.
Fusotao protocol can use blockchain technology in a setting where numerous entities engage without intermediaries and a decentralized consensus method. additionally, it acknowledges the production and verification of transactions in a distributed system that lacks trust, fostering trust at a cheaper cost.
Thanks to the same blockchain technology, the cryptocurrency industry has grown exponentially over the past few years. however, all cryptocurrency owners must sell their holdings on some platforms.
This kind of exchange has many benefits, including excellent dependability and user-friendliness. decentralized exchange, on the other hand, operates as a peer-to-peer transaction platform without the need for a middleman and offers various benefits like anonymity, reduced hacking risk, and the prevention of market manipulation.
While decentralized exchanges (dex) present the difficulties of liquidity struggles, low efficiency, and user-friendliness (complexity), as well as do not facilitate the trading of fiat currencies for cryptocurrencies, centralized exchanges (cex) present risks like hacks, high transaction fees, and preceding asset custody.
As a result, fusotao protocol has emerged to disrupt these difficulties by offering a user-friendly order book-based dex with zero-cost gas, low latency, and high security. moreover, it helps to overcome the issues faced by both CEXS and DEXS.
FUSOTOA PROTOCOL — A VERIFICATION PROTOCOL THAT MAKES ITS PLATFORM OPEN, RELIABLE, AND FAST BY USING THE EXECUTE OFF-CHAIN AND VERIFY ON-CHAIN MECHANISM.
For order-book-based matching systems, the fusotao protocol is a modernized verification protocol that applies the “execute off-chain, verify on-chain” paradigm. the community can earn rewards by trading on the decentralized exchanges or by staking tokens for the dexs that support the fusotao protocol directly to receive transaction fees from them. the fusotao protocol is entirely decentralized and community-oriented.
Furthermore, a decentralized infrastructure supporting order book dexs was developed so that any founder could construct a dex based on the fusotao matching and verification protocol. it shows that fusotao is distinctive because no other team is currently utilizing them in the same way.
The community can split transaction costs by staking tao for the dexs supported by fusotao. as a result, any decentralized exchanges built and backed by the fusotao protocol are guaranteed to have zero gas fees for transactions in the defi platform, order-booked basis, off-chain matching is faster than a swap, and assets have the same trading experience as cexs that are constantly under user control and no transaction fees.
To ensure security first on its platform, fusotao protocol collaborates with team members with experience developing a financial system to the highest standards.
THE FUSOTAO PROTOCOL — IS AN APP CHAIN PLATFORM CREATED TO PROVIDE SOLUTIONS TO THE PROBLEM OF SMART CONTRACTS AND CEXS.
Dapps, systems created around smart contracts and distributed on a blockchain, were designed due to the smart contract feature, which transformed blockchain technology. as a result, these dapps have the potential to transform the financial sector. still, they also have several flaws, including a lack of legal oversight of how smart contracts operate, problems with blockchain technology’s scalability and transaction processing speed, the inability to modify how smart contracts work, and a high reliance on programmers and vulnerability to bugs. the creation of appchains was a direct outcome of all these issues.
Since developers must build their networking, consensus, and application layers of their chain rather than making a decentralized application running on top of an ethereum-based network, application-specific blockchains are also known as appchains. they are blockchains customized to create a single application. additionally, they could be considered dapps since they have their blockchains created using substrate technology. these appchains are superior to smart contracts in terms of flexibility, scalability, performance, security, and sovereignty.
In actuality, fusotao protocol is a component of the near ecosystem and an app chain that emerges with the octopus network. its adoption in the crypto realm resulted from the advantages above being used. as a result, fusotao protocol is resolving the scalability issue and matching performance on cex without compromising the security requirement by outsourcing trading activities off-chain.
THE FUSOTAO PROTOCOL: A PLATFORM WITH SECURITY AS THEIR PRIMARY CONCERN.
A lot of exchanges have closed due to insufficient security measures. some investors have lost their long-term investments, information, and personal data due to security issues. the fusotao protocol prioritizes security in its platform. the fusotao protocol is a top-notch platform that prioritizes safety by leveraging the off-chain execution and on-chain verification paradigm. users have constant access to their assets and are on-chain. the fusotao protocol allows fusotao to be interoperable with any ibc-enabled blockchain and works with the octopus network to assure blockchain security.
AWESOME FUSOTAO PROTOCOL FEATURES:
• Decentralized infrastructure: it maintains user assets and confirms the matching transaction processes from off-chain exchange services via a network of application chains.
• Off-chain executor and prover: galois serves as the platform’s off-chain client and executes and verifies orders.
• Credible protocol for validation: A validation protocol is the fusotao protocol for an order book-based matching system that employs the off-chain execution and on-chain verification paradigms to create an open, dependable, and quick platform.
HOW TO PARTICIPATE IN THE FUSOTAO PROTOCOL:
- Become a validator: fusotao works with the octopus network to secure the platform’s security, allowing validators to receive incentives by staking oct tokens that serve as collateral against their negative reputation.
- Staking: community users can immediately split transaction fees by staking tao tokens for the dexs supported by fusotao protocol.
- Claim as a matcher: because fusotao is a permissionless network in its entirety, anyone with tao can claim at an exchange by matching and proving to receive incentives based on the proven transaction volume
- Trade to earn rewards: depending on the diversity of transaction volume and tao holdings, some of the tokens provided are allocated to community users that trade on the decentralized finance system built on fusotao.
TOKENOMICS:
- Token name : Fusotao protocol.
- Ticker : $TAO.
- Smart Contract : Binance smart chain.
- Token type : BEP-20.
- Total supply : 100 million.
TOKEN DISTRIBUTION AND ALLOCATION:
- Trading rewards account for 48%.
- Investors to receive 12.5% of the total.
- 8% is allocated to the team
- 7.5% goes to validators.
- Another 7.5% is allocated to staking rewards.
- 6% is allocated to the fusotao foundation.
- 4% is budgeted to initial liquidity.
- 3% is allocated to the ecosystem.
- 2.5% is allocated for IDO/IEO.
- 1% is allocated to testnet rewards.
TAO TOKEN CAN BE USED IN MANY WAYS:
- On the fusotao protocol application chain, users can utilize tao tokens to pay their gas costs.
- Tao token holders in the community can directly split transaction costs by staking their tokens on DEXs supported by the fusotal protocol.
- Tao holders can participate in governance token activities, including submitting an upgrade proposal, voting on proposals, etc.
- Users who trade on dexs supported by the fusotao protocol and have tao tokens in their on-chain wallets are eligible to get rewards through POT.
ROADMAP
SUMMARY
Fusotao protocol is a verification protocol for a sequential matching system that enables platform users to trade without relying on human trust, expensive latency, or high latency. it is a technology created to address centralized cryptocurrency exchanges’ scalability and performance matching issues while maintaining security, trading operations are assigned off-chain.
As a result, the fusotao protocol is entirely open source, making it simple for any user to create a dex based on an unreliable order book. Lastly, the fusotao protocol token (tao), the native utility token, incentivizes both the developers and the community members to build the ecosystem, and the rewards will be from participating in the platform’s trading, community governance, and vetting processes. as a platform based on the community, the majority of the tao tokens will be reproduced by the community mining and delivered to community members who sustain the operation and transact within the platform.
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