The Near ecosystem expansion: Introducing Fusotao Protocol
As the battle for dominant Layer 1 ecosystems rages on, one is flying under the radar in particular.
The NEAR Platform proposes a vast landscape for developers and users with minimal transaction fees on a certified carbon neutral PoS network. Bubbling deep within the DeFi section of the ecosystem is a budding up-and-coming project named Fustotao Protocol.
Who are Fusotao Protocol?
Fusotao is the first order book DEX in the Near ecosystem and they intend to capitalize on their first-mover advantage in a big way. Operating out of Singapore and China the Fusotao team is a crew of accomplished developers and has secured funding from the Near foundation and Flying Fish Capital.
The main advantage of an Order book DEX vs AMM’s is users' ability to set prices for trades as opposed to a simple swap. Also by using order books, users do not suffer from high slippage as you would on an AMM as buying orders match up a lot easier.
Where is Fusotao today?
Things are at every early stage with Fusotao Protocol currently, their testnet is just around the corner due in and they are currently undergoing their seed round fundraising. That being said, the protocol has been building all throughout 2021 and their wallet has been finalized with a complete extension also.
Fusotao’s FXDX exchange is due to be available on the testnet in early 2022, where users will have the opportunity to utilize Fusotao’s native FXDX wallet and execute a number of different trades. In Q2 2022, Fusotao aim to take the FXDX exchange to mainnet and open it for public use.
Opportunities with Fusotao?
As a young project, many decide that their best way to grow is by rewarding early adopters and community contributors, Fusotao has taken this exact same approach.
Airdrops and token rewards are up for grabs for useful inputs to increase awareness and test out the platform in early 2022. As Fusotao utilizes a Proof of Stake method to secure its network, validators are also rewarded for staking their tokens.
There are also more fixed roles available on the Fusotao team in areas of marketing and community building. If you are interested in any way you can DM them on their socials.
The Near Ecosystem
The Near ecosystem is growing at an exponential rate. Fully live since Oct 2020, the ecosystem supports over 200 projects and offers some of the top career opportunities in Web 3.0.