Article Summary, Automatically Generated By AI
Summary of Fusotao Protocol
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Granted by:
NEAR foundation and Octopus Network -
Protocol type:
Verification protocol for orderbook-based matching system -
Paradigm:
“Execute off-chain, verify on-chain” -
Fusotao network:
Octopus Network-based application chain for holding users’ assets and verifying off-chain exchange transactions -
Use cases:
- Founders can build their own DEXs using Fusotao appchain as on-chain verifier and off-chain matching server
- Communities can earn rewards by trading on DEXs or staking tokens for
Introducing Fusotao Protocol: A Revolutionary Blockchain Solution
The Fusotao Protocol is proudly sponsored by the NEAR Foundation and Octopus Network. This innovative protocol is designed to facilitate verification for orderbook-based matching systems, leveraging the “execute off-chain, verify on-chain” paradigm. The Fusotao network, an application chain built on Octopus Network, securely holds users’ assets and verifies matching transactions originating from off-chain exchange services. By utilizing the Fusotao appchain as an on-chain verifier and deploying their own off-chain matching server, founders can create their own decentralized exchanges (DEXs). Furthermore, communities can reap rewards by trading on these DEXs or directly staking tokens to support DEXs backed by the Fusotao Protocol, thereby sharing in the transaction fees generated.