Hi everyone,
We’re going to take place the 1st IDO project on our own LaunchPad with Fusotao Protocol after a delayed time due to “RED” market (hope you are still “alive”) so now we’re taking you go through it to help you do a wise decision. Attention: This is not a marketing article or advice.
What is Fusotao Protocol?
Fusotao Protocol is a verification protocol for an orderbook-based matching system, using paradigm of “execute off-chain, verify on-chain”. Powered by the decentralized infrastructure of Fusotao, trust-free orderbook-based matching systems with zero-cost gas and low latency can be built. 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. 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 changed, thereby ensuring the security of the user’s assets. To achieve the above-mentioned secure, fast, decentralized, and scalable Fusotao protocol, a complete set of Token economic incentive mechanism is needed 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 allocated to give full play to the initiative of developers, investors, and community participants, enable the Fusotao Protocol to achieve long-term prosperity; For another, incentives need to be given 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 properly function of the Fusotao Protocol. It is also the proof of community governance, development, transaction verification, and repurchase.
What are your benefits in Fusotao Protocol?
Fusotao Protocol is a completely decentralized and non-licensed community protocol. Therefore, most of the $TAO tokens will be generated by community mining and distributed to community members who maintain the operation of the Fusotao Protocol and carry out transactions.
63% of $TAO tokens will be allocated to community members participating in the Protocol, that is, 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 the zero-cost, high-speed and safe transactions. 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.
Did Fusotao Protocol perform a Security Audit?
Yes. Fusotao Protocol did, by SlowMist. The SlowMist security team use 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 risk, 1 suggestion vulnerabilities. And 1 low risk vulnerabilities were confirmed and being fixed; 1 suggestion vulnerabilities were ignored; All other findings were fixed. The code was not deployed to the mainnet.
Detail: https://www.fusotao.org/Fusotao-SlowMist-Audit-Report.pdf
Above are some important information based on their document. Studying carefully by yourself before any decision. Any more question about our 1st IDO you can ask directly to them in the next AMA on Wannaswap telegram (TG: @wannaswapamm) at 2PM UTC, Jul 9th, 2022.
