ABOUT FUSOTAO; THE VERIFICATION PROTOCOL BRINGING OFF-CHAIN TRADING TO DEXs

By offering a user-friendly order-book based DEX with zero-cost gas, low latency, and great security, Fusotao hopes to upend this.

WHAT IS FUSOTAO?

Fusotao Protocol is a verification protocol for order-book based matching systems, using the paradigm of “execute off-chain, verify on-chain”. A Fast, Open, and Reliable Infrastructure for DEXs.

By shifting trading activity off-chain, Fusotao Protocol seeks to address the issues of scalability and matching performance on centralized cryptocurrency exchanges while maintaining security assurances such as the non-ownability of user funds and the complete fungibility of the underlying assets.

The short-term objective of Fusotao is to assist several prospective DEXs that trade the token of the NEAR ecosystem and advertise the NEAR ecosystem. With its high performance and high security features, Fusotao hopes to play a significant role in advancing the development of DeFi in the near future.

Communities can benefit from trading on the DEXs or by directly staking tokens for the DEXs supported by the Fusotao Protocol in order to profit from their transaction fees. The upcoming FXDX will be the first DEX in the entire NEAR ecosystem and the first order-book based DEX supported by the Fusotao Protocol.

HOW DOES FUSOTAO WORK?

A blockchain serves as the verifier for the Fusotao Protocol, and an off-chain matching mechanism serves as the prover. Currently, they have created a solo substrate-based blockchain, but it can be connected to other substrate-based application chains by working with the Octopus Network. Users who trade on a Fusotao integrated trading platform only need to authorize coins — they do not need to transfer coins to the platform.

Coins are still stored in your wallet after the authorization is finished; only the state is changed from “free” to “reserved”. Coins will remain in their “reserved” state until the off-chain prover outputs proofs. The off-chain prover is a typical matching engine plus an additional proving engine, just as other CEX matching systems. The states in the matcher will be updated right away, but the assets won’t be modified until the proofs have been validated.

DEXs backed by Fusotao Protocol Enjoy The Following Benefits:

• 0 GAS Fees for transactions in the DeFi World!
• Order-book based.
• Faster than Swap(off-chain matching).
• The Same Trading Experience as CEXs.
• Assets are always at the user’s control.
• The Community can share transaction fees by staking TAO for the DEXs backed by Fusotao.

FUSOTAO TOKEN

The native token for Fusotao is $TAO. The majority of the $TAO tokens will be produced via community mining and allocated to participants in the Fusotao Protocol who maintain its functionality and conduct transactions.

Community traders, application chain validators, and $TAO staking participants will each receive 63 percent of the $TAO tokens distributed to the Protocol’s participants. They are the main forces behind the Fusotao Protocol’s reliable operation and the realization of transactions that are fast, cheap, and secure. Through Proof-of-Trading, Proof-of-Validator, and Proof-of-Staking, the three participants will be rewarded with $TAO.

Learn more about Fusotao by visiting the links below;

Website: https://www.fusotao.org/

Whitepaper: https://www.fusotao.org/fusotao-whitepaper.pdf

Telegram: https://t.me/fusotao

Twitter: https://twitter.com/FusotaoProtocol

Discord: https://discord.gg/WDwB4X8Kdz

Medium: https://medium.com/fusotao-protocol

Github: https://github.com/uinb

Greenbook: https://www.fusotao.org/fusotao-greenbook.pdf

Proof of Authentication: https://bitcointalk.org/index.php?topic=5405105.msg60689070#msg60689070