Fusotao: A Desensitized Platform That Enables The Development Of Trustless Orderbook-based Matching Systems With Minimal Latency and no Gas costs.
Introduction
Decentralized finance eliminates intermediaries by enabling individuals, organizations, and retailers to carry out financial transactions using an innovative technology called the Blockchain ecosystem. This is achievable with peer-to-peer financial networks that make use of connectivity, contemporary technology, software, and security standards.
You may lend, trade, and borrow from any location with an internet connection using software that records and validates financial transactions in distributed financial databases. Access to a distributed database is possible from several places, and it gathers data from all users and verifies it via a consensus process. Decentralized finance eliminates centralized financial models by allowing anybody to access financial services regardless of who they are or where they are.
DeFi gives individuals more control over their finances by providing individualized trading services and personal wallets. In this article we will introduce you to a new Dafi project called the Fusotao Protocol, which has all the above-highlighted properties. Also, its features and ecosystem systems will be detailed.
Fusotao Ecosystem
The "execute off-chain, verify on-chain" paradigm is used by the Fusotao Protocol, which is a verification protocol for an orderbook-based matching system. Fusotao's decentralized architecture enables the development of trustless orderbook-based matching systems with minimal latency and no gas costs. By using the off-chain matching technique, traders may enjoy trading that is as quick and simple as CEXS by having their orders submitted, their orders matched, their certifications generated, and other operations conducted on a centralized off-chain server. By using the method of on-chain verification, the user's assets are only altered on the chain when the transactions under the chain pass the verification on the chain, ensuring the security of the user's assets.
To achieve the aforementioned secure, rapid, decentralized, and scalable Fusotao protocol, a complete set of token economic incentive mechanisms is required, allowing all ecosystem stakeholders to collaboratively maintain the functionality of the Fusotao system. To ensure enough liquidity, security, and stability of on-chain fintech, incentives must be given to block packers, transaction certification service providers, transaction participants, and community governance. These variables include the ratio of tokens and the unlocking cycle, which must be properly distributed to fully use the initiative of developers, investors, and community members and make it possible for the Fusotao Protocol to enjoy long-term success. The Fusotao Protocol, like the vast majority of blockchains, has its own native utility currency, fittingly dubbed “TAO,” which is the primary driver behind the Fusotao Protocol’s smooth operation. Additionally, it serves as evidence of community growth, transaction verification, and repurchase.
TAO Token Unlock and Vesting
We have a history of supporting the Fusotao Protocol's technical maintenance, and we offer long-term rewards to community members and development teams. In five years, TAO tokens will become available. The quantity of TAO tokens unlocked annually will rise after the mainnet activation. After the mainnet starts, 67 percent of the TAO tokens will be released, and the community will get long-term benefits over the following two years.
Community Benefits
According to the TAO token economy outlined above, participants in the Protocol, including as community traders, block validators, and TAO staking participants, will get 63% of TAO tokens. They are the driving factors behind the stable functioning of the Fusotao Protocol and the accomplishment of the quick, secure, and cost-free transaction. The three players will get TAO rewards through PoT, PoV, and PoS. The Fusotao Protocol contributors will receive market & developer benefits, it is vital to mention. This also holds true for recognized international.
Token Governance
Fusotao is a decentralized infrastructure with strong community engagement and leadership. TAO is the only credential that recognizes community involvement in governance. Below are the key features:
1) The ability to propose upgrades, such as modifying gas, altering the reward structure of the liquidity provision pool, and putting forth TAO long-term incentives, is available to TAO holders who possess a particular quantity of TAO.
2) All Tao users have the ability to vote, and the idea that receives the most votes will be approved and put into action by the development team.
3) Before going live, the project team must obtain the required number of votes if it intends to create a new DEX based on the Fusotao Protocol.
Token Distribution
Token SSymbol-TA
100 million TAO total supply
48% is allocated to Proof-of-Trading, which will be used for trading rewards.
7.5% is allocated to Proof-of-Validator, which will be used for validator rewards.
7.5% is allocated to Proof-of-Staking, which will be used for TAO staking rewards.
8% is allocated to the Fusotao Team.
12.5% is allocated to investors.
2.5% is allocated to the public sale.
4% is allocated to the initial liquidity.
1% is allocated to the Testnet Rewards.
3% is allocated to ecosystem development and marketing.
6% is allocated to the Fusotao Foundation.
ROADMAP
Done
•The implementation of the verifier over the Substrate
•Standard matching engine with proving procedure
•Wallet extension
•Exchange broker and Web UI
2022 Q1
•Optimization
•Shared orderbook
•Partnership with Octopus Network
•Testnet online and expand the community. Aim to get 10,000 users to participate in the testnet.
•The first order-book based DEX FXDX on the internet
2022 Q2:
• Marketing Sub-Protocol
• IDO on Multiple Platforms
• The launch of the mainnet, as well as the establishment of a new journey
• Community governance by staking for more DEX.
•Make Fusotao a safer, more general, more decentralized, and more open financial infrastructure.
Conclusion
The Fusotao Protocol’s native utility coin is called TAO. It is a connection that encourages developers and community members to take part in the development of the Fusotao ecosystem. The community will receive more than 63 percent of the TAO tokens released. Participating in trading, community governance, verification nodes, and TAO staking will earn you TAO rewards. By staking tokens on the DEXs supported by the Fusotao Protocol, the community may directly share transaction costs while also earning incentives through trading.
Useful links
★ WEBSITE
★ TELEGRAM
★ DISCORD
★ MEDIUM
Writer’s Information
Name: Emperor Okpanku
Telegram: @ Emperoruky
Bitcointalk forum Name: Gracejoy
Bitcointalk profile link
Prove of authentication
Wallet Address: 0x71bA7B5F69a003a2860359CFe05c828f60CbdD81
