AMA RECAP : CRYPTO CHALLENGERS x FUSOTAO PROTOCOL
Venue : CryptoChallengersD
Date : 14 FEB 2022
Time : 09:00 AM UTC.
Guest: Team
They shared detailed information and his opinions about the project FUSOTAO PROTOCOL.
🔴 SEGMENT 1 INTRODUCTION
1.Could you Guys please provide a quick self-introduction for the community?
George Hao:
Hi everyone, I am George, the marketing manager of Fusotao Protocol. I am a crypto enthusiast and a self-taught researcher. I have been an active participant in the Crypto world right from its initial days.
Nice to be here with u and welcome all of u
2.Can you briefly introduce the project FUSOTAO PROTOCOL what are some of utlities of $TAO ? How do you think you stand out among the competitors if there are any?
George Hao:
Fusotao Protocol is a verification protocol for order-book based matching systems, using the paradigm of “execute off-chain, verify on-chain”. Founders can build their own DEXs based on Fusotao. Communities can earn rewards by trading on the DEXs or directly staking tokens for the DEXs backed by Fusotao Protocol to share transaction fees. The FXDX to be launched backed by Fusotao Protocol will be launched at the beginning of May.
Let me introduct the utlities of $TAO from 3 perspective:
About community rewards, I think you will interested in it.
1. Trading rewards: Proof-of-Trading (PoT). The trading itself is the core of the whole system. Fusotao protocol introduces the Proofof-Trading to motivate transactions to obtain TAO rewards. When users trade on DEXs powered by the Fusotao Protocol, they will get TAO tokens according to the daily trading volume.
2. Validator Rewards: Proof-of-Validator (PoV). Verification nodes of the Fusotao Protocol is provided by the Octopus Network (OCT). Community users can obtain TAO rewards by becoming the verification node or staking OCT to verification nodes in the octopus network.
3. TAO Staking Rewards: Proof-of-Staking (PoS). Apart from these above, In order to incentive the long-term holders of TAO tokens, the Fusotao Protocol will also support TAO token staking after the mainnet is launched.
0 GAS Fees for transactions in the DeFi World!
Orderbook based
Faster than Swap(off-chain matching)
The Same Trading Experience as CEXs
Assets are always at the user's control
Community can share transaction fees by staking TAO for the DEXs backed by Fusotao.
Above characteristic makes Fusotao stand out.
DEXes on Fusotao are different from other DEXes you knew.
such as some existing disadvantages on DEXes or CEXes:
Slow trading speed, Latency exists
Have to pay gas fee
....
Fortunately, DEXes backed by Fusotao can solve it.
3.Can you share the achievements the team has made so far ? what are the major achievement target FUSOTAO PROTOCOL is yet to achieve . If possible also share your roadmap.
George Hao:
Airdrop, technical obstacles, investments.... We made so many achievements.
And let me give you some project strategies. Focus on our DEX, FXDX, Backed by Fusotao Protocol, the FXDX testnet will be launched at the end of February, it is the first order-book based DEX in the NEAR ecosystem, and this will be most likely be the full DEX or very close version to the full DEX. In addition to DEX, FXDX will join hands with Fusotao wallet to meet you guys. You can create an account on our Fusotao wallet and have a trading experience on FXDX. Practice is the best teacher, it's useless to say more, you'll know when you use it.
Mainnet will be officially launched in the second quarter. Please wait patiently. Recently, please enjoy airdrop and look forward to the testenet.
4.Could you share a bit about security and also what benefits you provide to incentives user’s choosing your platform?
George Hao:
Dont be mind SECURITY! We put a lot of effort into this.
We have an ongoing marketing plan that will always attract users, such as AMA, Giveaway. And the testnet will go live at the end of February, I'm sure we're all excited about it.
From Twitter you can see that we have been made many cooperationor investment news for the last month, everyone has to look forward to Fusotao
5.Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution
George Hao:
The total amount of TAO tokens is 100 million.
Community development is the driving force behind decentralized blockchain projects, so 63% of TAO tokens will be allocated to community members participating in the Protocol, that is, community traders, block validator and TAO staking participants, and the rest is used for investors, liquidity, testnet rewards, etc.
You could read more about our tokenomics on the economic white paper.
⚪ SEGMENT 2 TELEGRAM LIVE
Q1-Natasha:
Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
George Hao:
1. The high-performance matching and verification protocol provides the underlying support for the order-book based DEX.
2. The first DEX backed by Fusotao Protocol called fxdx will be the first order book-based DEX in the NEAR ecosystem.
3. Fusotao will collaborate with Octopus Network to ensure blockchain security and enable Fusotao’s interoperability with NEAR or any IBC-enabled blockchain.
We have a development team that has worked in the field of cryptocurrency for many years. Especially in matching engines and cryptography. The first order-book based DEX backed by our protocol, called fxdx, is about to launch the testnet. Its friendly user experience and high performance make me confident in the future of our project. Moreover, we have an operation team with an international vision and many successful cases, which ensures that we can let many people join and use our product.
Q2-Adam Johnson |DEGEN🔺:
Where I can get the latest updates or more information about the project?
George Hao:
Our main social media are Twitter, telegram and Discord. I will list here:
Website: https://www.fusotao.org
Twitter: https://twitter.com/FusotaoProtocol
Telegram: https://t.me/fusotao
Discord: https://discord.gg/WDwB4X8Kdz
Demo video: https://youtu.be/NjwhsonPdHM
We have many regional sub-communities, and we have excellent partners to help us promote and manage our community.
Pay attention to Fusotao community.
Q3-รีวิวนิยาย | รีวิวซีรีส์:
Where can I buy your tokens right now what is your current contract and how can I buy them??
George Hao:
We will do IDO on Skyward, the most popular launchpad platform in the Near ecosystem, and the IDO price on Skyward is not fixed.
Many investors who do not have the opportunity to get involved in our private sale will participate in IDO.
Q4-Betty Irina | CryptoStar CM:
What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
George Hao:
The development and operation of our project are making new progress every day. I think the three most important things in 2022 are the following:1. Our mainnet will be launched at the end of April and this will totally be a new journey for Fusotao. 2. We will IDO on skyward in May. Those who think our project has potential can join IDO and become our early investors.
3. We will develop a market maker sub-protocol. Community users can lock their funds into the sub-protocol. Market makers borrow funds to make the market, and market makers share rewards with users.
After the mainnet is launched, we will immediately launch the first DEX backed by Fusotao. Then we plan to cooperate with more partners who are willing to own their own DEX backed by Fusotao.
Q5-รีวิวนิยาย | รีวิวซีรีส์:
Can you tell me more details on the IDO? The schedule and contribution for each?
George Hao:
We have a total of 3 rounds of funding, namely angel round, seed round and A round. We have closed the seed round funding joint lead by D1 Ventures, Seven X Ventures and Big Brain Holdings. More than 20 investors from all over the world participated in the seed round and can bring much more value to our project than only money.
Three months after the mainnet is launched, 30% of the investor’s token above will be unlocked at one time. In the following 12 months, the remaining 70% of the investor’s tokens will be unlocked linearly by month. A total of 12.5% of the tokens will be distributed to investors, which includes 2% for the angel round, 8% for the seed round and 2.5% for the A round (in progress).
We will IDO on skyward in May, and the price of the IDO is not fixed. Investors who didn’t participated in our private sale rounds can participate in the IDO to get our token earlier.
George Hao:
It is my honor to share information about Fusotao here. Thank you for your participation!hope you will follow our Twitter and join our community! Welcome all of you.
Fusotao Protocol is a verification protocol for order-book based matching systems, using the paradigm of “execute off-chain, verify on-chain”. Founders can build their own DEXs based on Fusotao👏. Communities can earn rewards by trading on the DEXs or directly staking tokens for the DEXs backed by Fusotao Protocol to share transaction fees👏. The FXDX to be launched backed by Fusotao Protocol will be the first order-book based DEX in NEAR ecosystem.🚀🚀🚀🥰
🌟Important Links
- Website: https://www.fusotao.org
- Twitter: https://twitter.com/FusotaoProtocol
- Telegram: https://t.me/fusotao
- Discord: https://discord.gg/AWPMGQ8VJThank you for your participation.
