Fusotao Protocol: A Revolutionary DEX Infrastructure On NEAR Protocol That All Traders Must To Know About!!

By thefreethinkeer | StartUpInsider | 27 Jul 2022

Trading of Bitcoin and altcoins cryptocurrencies is certainly among notable occupations in a contemporary global economy that is highly technologically driven. From over the years, the inherent nature of cryptocurrencies have proven to the world their potential to grow astronomically and yielding huge profits for enthusiasts especially in the longer run. The emergence of blockchain and cryptocurrency technology came with development of exchanges that could either be centralized or decentralized.

Although decentralized exchanges have proven their cridibilities from over the years, given to their rigid immutable nature, they cannot be censured. They also suffer from a number of setbacks that ranges from low liquidity to operational complexity, slower processing time and high cost of network transaction processing. Centralized exchanges have gained ground as more popular cryptocurrency entry points, this can be attributed to their fast transaction execution, automated order and matching system, and regulatory compliances.

The popular simple statement in cryptospace that says 'not your key, not your money' have pushed enthusiasts into taking serious precautionary measures while dealing with centralized exchanges since they tend to take control of one's account and invades their privacy. In this article, I discuss about Fusotao Protocol, a decentralized solution that aim to support users of centralized exchanges with it idea that focuses on improving order matching performance with an off-chain delegation technology for trading activities.

Introducing Fusotao Protocol

Fusotao Protocol is a fast, reliable and decentralized exchange infrastructure that utilizes off-chain matching engine technology to address painpoints associated with relaying protocols that currently exist in cryptospace. Relying on Octopus Network, Fusotao Protocol will primarily utilize two specific tools to facilitate a fair matching solution in respect to transactions order, these tools includes; dApp chain matching protocol and an off-chain matching protocol. The dApp chain matching protocol play the role of a verifier while the off-chain matching protocol play the role of a matcher and approver.

Tentatively, traders assets are held in the dApp chain while transaction order matches are verified from an off-chain client (centralized exchanges), all transactions are provable through Fusotao's revolutionary Matching Verification Sub-protocol. It would interest everyone that Fusotao Protocol passed voting stage in Octopus Network which places it solution in a booting phase, waiting to be launched as an Appchain product.

Since Fusotao is pushing a paradigm shift that put verify on-chain and execute off-chain at the core of its solution, security is among it top most priority, thus the solution decided to rely on Octopus Network's light-client-based bridging connection to NEAR Protocol and making bridging independent from oracles.

Users of Fusotao Protocol & Their Contribution to Its Stabilization

In order to achieve a zero-cost, fast and reliable transaction in Fusotao Protocol, three category of contributors are defined and rewarded to ensure a stable implementations, these contributors includes;

Traders: The core of Fusotao Protocol is built with traders at it heart, allowing them to benefit immensely from it set of matching and verification system that verify on-chain and execute off-chain. The solution here will break about a paradigm shift for traders, allowing them to complete transaction and get their proof without giving away the custody of their assets. Fusotao solution introduced a Proof-of-Trading (PoT) system that rewards and motivate traders when they trade in a DEX that is powered by Fusotao Protocol.

Block Validators: Network nodes in Fusotao Protocol are powered by Octopus Network (OCT). Fusotao Protocol introduced a Proof-of-Validator (PoV) system that empower users to earn rewards and motivation for maintaining the network as node operators.
Users Staking Fusotao Protocol's Token (TAO): In a bid to reward and motivate long term holding of the ecosystem's token, TAO, Fusotao Protocol utilizes a Proof-of-Staking (PoS) system that allow users to stake their shares and be rewarded after completing a certain staking duration.

Proof-of-Trading is considered as one of the most prioritized system in Fusotao protocol, thus 48% of its total assets which amount to 48000,000 TAO have been reserved as trading rewards.

Fusotao Protocol's Token ($TAO), Its Tokenomics & Utilization Scenarios

$TAO is the primiry utility token of Fusotao Protocol project ecosystem, the token is minted in NEAR Blockchain with a total supply of 100,000,000 $TAO that will serve as fuel that powers and streamline all economic activities of it ecosystem. Find a detailed tokenomics of $TAU below!

As a primary utility asset, $TAO has a number of utilization scenarios that includes but not limited to;

Governance: $TAO token is the only proof required for participation in Fusotao Protocol's project ecosystem. Users with certain amount of holdings can propose for changes, all holders can vote on proposals and proposals with highest votes are adopted for implementation by the development team.
Network Fee (Gas): $TAO tokens can be utilized for settling of transactions costs in the Fusotao Protocol's dApp chain, this is quite a utilization scenario.
Staking for Transaction Fees: Being a decentralized financial solution, Fusotao Protocol empower users to earn rewards for staking their $TAO tokens in any DEX that support its on-chain verification and off-chain execution protocols.

Benefits From Utilizing DEXs Backed By Fusotao Protocol

Traders and enthusiasts alike stands for derive a number of rich benefits from their utilization of DEXs that are backed by Fusotao Protocol's solution, these benefits includes;

Decentralized exchange ecosystem powered by zero gas fee for transactions
An orderbook based decentralized exchange
DEXs that are faster than swaps due to their off-chain execution

Decentralized exchanges that offer you the same experience in centralized exchanges but with better privacy and assets security
Users always in total control of their keys
Participate in $TAO staking in DEXs powered by Fusotao Protocol

$TAO token is corrently going through phases of public sales that is powered by a good number of start-ups seeding platforms, you can catch all the public sales information here.

Fusotao Protocol in Comparison to AMM DEXs & ZK-Proof DEXs

Meet Fusotao Protocol's Partners

Meet Some of Their Investors

Project Development Timeline

In Conclusion

Certainly it would interest you that Fusotao Protocol is a community oriented decentralized financial ecosystem that has dedicated a vast majority of it resoources ($TAO) to be distributed as community rewards and allocation for traders and enthusiasts that participate in its protocol. Indeed this solution is the type that all traders must know about! Do follow the official links that i have made available below for much more into the solution of Fusotao Protocol, thanks.