Fusotao Upcoming IDO On WannaSwap
Fusotao upcoming IDO on WannaSwap was announced recently. Fusotao Protocol is a verification protocol for an orderbook-based matching system, using paradigm of “execute off-chain, verify on-chain
Powered by the decentralize infrastructure of Fusotao, trust-free orderbook base matching systems with zero-cost gas and low latency can be build. Through the method of off-chain matching, the process of order submission, order matching, certification generation, and other processes runs on a centralized off-chain server, which enables traders to obtain the same fast and userfriendly trading experience as CEXs.
Furthermore, through the method of on-chain verification, only when the transactions under the chain pass the verification on the chain, will the user’s assets on the chain be change. This is to ensure the security of the user’s assets. Moreover, to achieve the above mention secure, fast, decentralize, and scalable Fusotao protocol, a complete set of Token economic incentive mechanisms is in need to enable all participants in the ecosystem to jointly maintain the operation of the Fusotao system.
For one thing, the proportion of tokens and unlocking cycle need to be appropriately allocates to give full play to the initiative of developers, investors, and community participants, enabling the Fusotao Protocol to achieve long-term prosperity.
For another, incentives need to gives to block packers, transaction certification service providers, transaction participants, and community governance to achieve sufficient liquidity, security, and stability of on-chain financial products.
Like the vast majority of blockchains, the Fusotao Protocol also has its own native utility token-aptly named ‘TAO’, which is the most important factor that motivates the proper function of the Fusotao Protocol. It is also proof of community governance, development, transaction verification, and repurchase.
Benefits of the Fusotao Protocol
Moreover, Fusotao Protocol is a completely decentralize and non-license community protocol. Therefore, most of the $TAO tokens generates by community mining and distributed to community members who maintain the operation of the Fusotao Protocol and carry out transactions.
Furthermore, 63% of $TAO tokens allocates to the community members participating in the Protocol. That member includes community traders, application chain validators, and $TAO staking participants. They are the main contributors to ensuring the stable operation of the Fusotao Protocol and realizing zero-cost, high-speed and safe transactions. Additionally, the three participants will get $TAO rewards through PoT, PoV, and PoS.
- Trading Reward: Proof of Trading.
- Validator Reward: Proof of Validator.
- Staking Reward: Proof of Staking.
- Claim as a Matcher.
- Stake for DEXes to share transaction fees.
FUSOTAO SECURITY AUDIT
Fusotao Protocol security audit was made by SlowMist. The SlowMist security team uses a manual and SlowMist team’s analysis tool to audit the project. During the audit work they found 1 high risk, 1 medium risk, 3 low risks, and 1 suggestion vulnerability. And 1 low-risk vulnerability was confirmed and being fixed; 1 suggestion vulnerability was ignored; All other findings were fixed. The code was not deployed to the mainnet.
Fusotao is based on Substrate and decided to join the Octopus Network which is a multi-chain infrastructure for Substrate-based Web3.0 applications.
WannaSwap is one of the first platforms on Near’s Aurora EVM. It aims to be the locomotive, that welcomes users as well as incubates and supports future projects.