FusotaoPrice

(TAO)

Fusotao Protocol is a Web3 project designed as a verification protocol for orderbook-based matching systems. It operates on the principle of "execute off-chain, verify on-chain". This means that while trading activities happen rapidly off the main blockchain, their validity is securely confirmed on-chain. The project utilizes an Octopus Network based application chain and is built on a Substrate-based blockchain, allowing it to connect with other Substrate-based application chains like NEAR. Fusotao aims to address limitations of traditional blockchain technology by offering high throughput, very low fees, and a smooth user experience for decentralized exchanges (DEXs). A key function of Fusotao is to enable the creation of custom DEXs. These DEXs can use the Fusotao appchain as an on-chain verifier while deploying their own off-chain matching servers, enhancing security and efficiency. When trading on a Fusotao-approved platform, users authorize their crypto, which remains in their wallet, rather than transferring it to the platform directly. The off-chain prover then generates proof, which is verified on-chain, ensuring asset security. Benefits include zero gas fees, increased speed, and enhanced security. The native utility token of the Fusotao Protocol is TAO. The TAO token plays a crucial role within the ecosystem. It is used for community governance, transaction verification, and as rewards for participants. Users can earn TAO through trading rewards via a Proof-of-Trading mechanism and by staking TAO tokens on Fusotao-backed DEXs, which also allows them to share transaction fees. Additionally, TAO tokens can be used to pay gas fees on the Fusotao Protocol application chain. The project has received grants from the NEAR foundation and Octopus Network. Learn more

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