FUSOTAO: POWERED BY WISDOM
Decentralized exchanges take a different approach to buying and selling digital assets: They operate without an intermediary organization for clearing transactions, relying instead on self-executing smart contracts to facilitate trading. Although centralized exchanges (CEXs) currently dominate cryptocurrency trading activity, decentralized exchanges (DEXs) are growing in popularity. DEXs facilitate peer-to-peer trading by relying on automated smart contracts to execute trades without an intermediary. However, not all DEXs employ the same underlying infrastructure. While some retain conventional order book models, others use emergent liquidity protocols. In addition to exchange and liquidity protocols, developers are building new aggregation tools to address the disjointed liquidity that’s inherent in decentralized exchanges
The Power of Dexes
Decentralized Trading Protocols or DEXs allow crypto investors to hold their keys while trading by using liquidity solutions from order books to liquidity pools.
Powered by the Tao token and built on the Near Protocol, Fusotao protocol is a set of matching and verification algorithms based on automated trust, through on-chain authorization and off-chain order-book matching, with complete transactions executed with proof obtained without asset custody. The user’s assets will not be altered until the matched
transaction is confirmed on-chain.
What makes Fusotao tick?
Fusotao powered dexes like FXDX, give TAO tokens according to the trading volume in one epoch, when there is a trade. Fusotao protocol introduces the Proof-of-Trading to motivate transactions to obtain TAO rewards. FXDX is the first order book-based decentralized exchange to be backed by the Fusotao Protocol. It is a revolutionized and user-friendly DEX with high security and high speed of transaction. TAO token on the other hand is the native and governance token of the Fusotao Protocol. TAO token is unique, valuable, and innovative with many use cases.
According to mysticism, Tao is the natural order of the universe whose character one’s intuition must discern to realize the potential for individual Wisdom. And this version of Tao didn’t disappoint.
Tao is basically a NEP-141 token and a substrate native token with both a utility token and a governance function, contract addresses of Near (fusotao-token.near) and Aurora 0x7538162f05bec5084a92a5f47c2a094fcf73e372
63% of $TAO tokens will be distributed to the community members. Community members can get $TAO rewards by participating in trading, community governance, verification nodes, and $TAO staking, or directly share transaction fees through staking tokens for the DEXs backed by Fusotao Protocol.48 million TAO tokens, accounting for 48% of total
supply, are used for PoT rewards. After the launch of the Fusotao mainnet, it will be unlocked at an unlocking rate of 9.6% every year. 26,301 TAO tokens will be distributed to traders every era as PoT rewards.
So what is Substrate?
This is a web application framework for building distributed systems such as blockchains, in a manner that allows seamless integration with other networks. Substrate enables developers to quickly and easily build future-proof blockchains optimized for any use case. These blockchains can be run entirely autonomously, which means they don’t depend on any external technology to run.
NEAR is a development platform built on a sharded, proof-of-stake, layer-one blockchain designed for usability, thus dissolving any Web 3 adoption barriers. With progressive UX, NEAR’s climate-neutral blockchain is ready for explosive growth, especially as it runs in tandem with many networks.
Why did Fusotao choose Near?
A very important factor in Blockchain adoption, Near boasts of high speeds and 1000x lower transaction fees for users and developers earn 30% of transaction fees.
With an efficient Proof-of-Stake network which was also certified as carbon-neutral in February 2021
As security is top on blockchain adoption priority, this protocol boasts of validators maintaining the network integrity.
Friendly. Human-readable account names follow a scoped DNS naming pattern.
Running in tandem with Ethereum, Polkadot, Cosmos, and more, allowing for the free flow of assets and communication between networks for the betterment of all, it cannot go wrong. EVM and Rainbow Bridge were developed for interoperability among chains.
FusotaoProtocol completed successfully its sale of $Tao tokens on 28th July 2022. Trading commences on exchanges like Huobi Global on 10th August 2022. Stay tuned
About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain, connoisseur
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