Hi all,
This is Daniel Wong, Co-founder of Fusotao Protocol. I hope this message could find someone interested in us.
Here are a bit more details about Fusotao - Fusotao is a verification protocol for orderbook-based matching system using the paradigm of âexecute off-chain, verify on-chainâ. And the first decentralized orderbook-based exchange FXDX has been launched on Fusotao.
What are we building and why? - There are two ways to trade cryptocurrencies: by using orderbook-based matching systems (a.k.a CEX) or SWAPs (a.k.a DEX). The CEX is fast, low-cost but unsafe since deposition is necessary while the DEX stands opposite. So weâre entering the market to fulfill those needs.
So we are building a web3 infrastructure to help users can trade neither relying on human trust nor bearing the high latency and cost. If not us, we believe that there must be another team to do the business, and the paradigm will replace both CEX and swap. Please refer to the roadmap in Fusotao Deck which already contains our plan.
Components & Technical specs - Fusotao Protocol is an abstract protocol composed of two core components: A blockchain acts as the verifier and an off-chain matching system acts as the prover. Currently, we have built the blockchain by the substrate as a standalone blockchain, and we also have a planB that deploy the protocol to other blockchains like NEAR. By trading on a fusotao integrated trading platform, users shouldnât transfer coins to the platform, instead, they just need to authorize coins. After authorization is accepted, the coins are not going anywhere but move from âfreeâ to âreservedâ state in the same account. The only way to modify the reserved coins is proving it, thatâs what the off-chain prover doing. The off-chain prover is a standard matching engine just like other orderbook-based matching systems, but plus an additional Proof of Matching procedure. The matcher will update the states within it immediately but the assets wonât be affected until the proofs are submitted.
To have a better understanding, please review our demo video.
Completely open source - All of our components are fully open-source. The matching system is offered to founders who would like to build a reliable DEX just like provers of Filecoin do.
To have a better understanding, please review our Technical Greenbook.
Currently, we are in the stage of seed round, we are looking forward to some quality VCs or investors who can add value in more than just money.
To have a better understanding of Fusotao Protocol, feel free to review the Fusotao Deck, Greenbook & Whitepaper and our demo video.
- Fusotao Deck [Fusotao deck]
If you are interested in us, please reply to the email(daniel@fusotao.org) or contact me on Telegram - @DaniellWong, so we could discuss the possibilities of our future collaboration.
Best regards,
Daniel Wong | Co-founder
https://www.fusotao.org
UINB Tech Pte. Ltd.