Fusotao Protocol - Project Review

Introduction

Centralized exchanges have been the backbone of the crypto market for many years. They offer fast settlement times, high transaction volumes and continuously improved liquidity. However, a centralized economy has certain limitations. To meet the ever-evolving needs of the world, decentralized transactions are being developed and strengthened every day. Decentralized exchanges (DEX) do not require intermediaries or custodians to facilitate trading. Although many new operating systems have been released for users, each has its own limitations. Below, a completely new platform will be introduced to you, a completer and more updated platform that is trying to create a new and optimal environment for crypto enthusiasts and especially traders. Stay with us in the future.

Fusotao Platform

Fusotao is an audit protocol for orderbook-based systems, which uses the "confirm on-chain, execute off-chain" pattern. Trustless order books with zero fees and low latency can be built using this decentralized protocol. Using the off-chain matching method, order registration and order matching processes are performed on an off-chain server; This allows traders to experience fast and user-friendly transactions in centralized exchanges built on this protocol. Through Fusotao's confirmation method, transactions are confirmed on the main chain and then processed and executed off-chain through the Galois component of this protocol. The Fusotao protocol is built using Substrate, Polkadat's network development kit.

Fusotao is a set of network protocols, based on a data consistency rule or some data modification restrictions. Fusotao uses a subset protocol called Proof of Matching. PoM consists of smart contracts, which perform all processes automatically. The orderbook stores all the orders that match the price and time, and when the price reaches the registered order, the transaction is executed. Orderbook lists the number of orders offered or offered at a specific price or market depth. The order book also identifies the participants (buyers and sellers) in the market. These listings help traders gain market transparency such as price information, inventory, trade depth, etc. There are three sections in the Order Book: purchase order, sell order and order history. The purchase order contains the buyer's information such as offers, the price they want to buy and the agreed price. The sell order information is the same as the buy order and the market order history also shows all the transactions that have been done in the past.

Order Book can also be used to describe the status of orders that a company receives from its customers. The order book is dynamic; This means that it is constantly updated throughout the day. In the Order Book, users can see the highest offer and the lowest agreed price; It shows traders the prevailing market and price conditions. The book also comes with candlestick charts, which can provide useful information about past and current market conditions.

Currently, the Fxdx exchange is the first order book-based decentralized exchange built on the Fusotao protocol, which is currently on the test network. To connect to Fxdx, the user must have one of Token Keeper wallets (Fusotao's native wallet) or Polkadot Wallet.

In order for Fusotao to become a secure, decentralized, fast and scalable protocol, there must be a set of economic mechanisms to encourage contributors; The ratio of tokens and the release cycle of locked tokens should be properly allocated to provide enough incentive for developers, investors and the early community, so that Fusotao can continue to operate in the long term. Incentives should also be provided to transaction validators and the protocol's governing community, so that Fosutao can achieve sufficient liquidity and stability for on-chain financial products.

Just like most blockchains, this protocol also offers its own native token called TAO. This is an incentive token that makes the protocol ecosystem work properly. The applications of this token include community governance, protocol development, transaction confirmation, token redemption, gas fee payment in the application chain of this protocol, etc. Users can also be rewarded with TAO tokens by doing the following:

? Trading

? Participation in protocol governance

? Become validating nodes

? Depositing (Staking) TAO tokens

TAO Token

TAO is a native token of the Fusotao ecosystem, developed on Near & AURORA Protocols. TAO plays a fundamental role in all ecosystem affairs and is a governance token. By having this token, users can use all the facilities and benefits of the ecosystem. TAO makes users a direct beneficiary of Fusotao. The specifications of TAO are as follows and its toconomics is also presented in the following image:

TAO Token

Ticker: TAO

Role of Token: UTILITY

Token Type: Near & AURORA Protocols

Total Supply: 100,000,000

Contracts:

Near Protocol: fusotao-token.near

Aurora Protocol: 0x7538162f05bec5084a92a5f47c2a094fcf73e372

Project team, partners and investors

Regarding the people of the project team, no specific information is provided on the website and whitepaper of the project, but considering the explanations given about the main idea and features of the project, the project team should be composed of other experienced people in the blockchain and cryptocurrencies industry. Another strength of Fusotao is the partners and investors who own the name of this project. Obviously, with the presence of powerful companies supporting this project, we can hope for its future. In the picture below, the names of the partners and investors of the project are presented:

Fusotao Roadmap

Roadmap project details are provided in the image below:

Final Word

As mentioned, Fusotao is a verification protocol for an order book-based matching system. Fusotao also builds a decentralized infrastructure to enable order book-based matching systems with low gas costs and minimal latency. The "off-chain execution and on-chain verification" patterns play fundamental roles in the Fusotao protocol. As this protocol uses the mentioned template to issue certificates. The off-chain matching method provides conditions for all transaction processes such as order submission, order matching, certificate generation, etc. to be executed on a centralized server outside the network. This allows traders to have an experience similar to using decentralized exchanges in the Fusotao protocol. Another strength of the Fusotao protocol is the security of users' property on the network. In this way, using the on-chain verification method guarantees the security of users' assets. In this way, the user's property on the chain changes only when the transactions under the chain receive confirmation on the chain. Token's economic incentive mechanism is also another notable feature of this platform. TAO, as the native token of the Fusotao platform, makes all users of the ecosystem participate in its stability and stability, and also provides ways to earn money in the ecosystem, which can be used as an incentive to retain and attract users of the ecosystem. It is new.

With all of the above, it can be said that Fusotao is an attractive ecosystem, not only for professional traders but for any cryptocurrency enthusiast. We suggest you have this protocol in your watchlist.

"This article is merely a review of the project and should not be considered as a recommendation for investing in the project and its subsidiaries. Obviously, investors should do their research before making any investment."

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Author

Bitcointalk username: Hommai