The DSL (Decentralized Settlement Layer), is the architecture for peer-to-peer settlement provided to exchanges that build on top of it. SDPs (Settlement Data Providers) witness and propagate trading data that happened on said exchanges and inform users' Asset Custody Contracts to execute swaps that happened on the exchanges. This allows the users to maintain custody while providing a true professional exchange experience.
SDP operators are $TXA holders, and each member will be witnessing, propagating and calculating obligations between exchange's users.They only execute when consensus between SDPs are reached. Being community-run, the SDP Operators may ellect to charge fees to traders for providing settlement data for peer-to-peer settlement.Once a trade is initiated and matched, the users can keep trading with their assets and are able to request settlement from the DSL. All of this is done seamlessly, while users have access to their funds in their wallets throughout the whole process and never having to pay withdrawal fees again! Safer and cheaper than Central Exchanges, while providing more liquidity than a DEX can.
Yes, provided that they build to the DSL’s Decentralized Settlement Protocol outlined in the whitepaper. We will be releasing a full spec alongside soon, but whitepaper should be sufficient to get started.
All Project TXA smart contracts that hold traders' funds as collateral have a built in unlock timer. In a worst case scenario, after that timer is up, all traders will be able to withdraw their funds. Any traders that are unable to claim positive trades will be compensated accordingly from a special insurance fund.
The Settlement Data Provider (SDP) operator can earn a fee for providing data to the settlement parties. Fees are paid in counter-asset. For example, SOL/ETH settlement: data fee will be paid in ETH.
Centralized exchanges have, from time to time, experimented with non-custodial trading methods. For an example, KuCoin had worked with Arwin in non-custodial & trustless way to trade with a CEX. I believe that similar to that CEXes are more than willing to explore new tech and their business development teams will be happy to start discussing with ours.CEXes have an unhappy situation where they are forced to custody customer funds. Which makes them a huge target. By offering a better way, we believe more exchanges will adopt TXA DSL as a default way to settle and clear trades.
Yes, Foundation, once formed, will review and allow grants to the devsFoundation will also handle TXA-related marketing and advocacy.
Yes, we will probably make a reference NFT auction marketplace code available (provided we have time and resources).
Tacen is a platform partner building on top of Project TXA's Decentralized Settlement Layer (DSL) Tacen is a US company that is building a first implementation of exchange that will be compatible with the TXA DSL.
This is left for Tacen team. But what we can say is that Tacen is going to launch an alpha version (connected to testnets) by late September. Alpha will be invite only to our earliest supporters.
TXA DSL is a very technical product, however, we will make every effort to make sure that as broad a spectrum of people can contribute to the TXA DSL network.To that end, we plan on making the staking requirement very low (100 TXA) to be able to run your own SDP.The hardware required to run the SDP itself will be minimal as well. Something like desktop or Raspberry Pi should be able to run it.hDEX is going to be designed for retail traders and pro traders. However, it won't have a simple UX/UI like Coinbase mobile app at the beginning.
Roadmaps are a tricky subject, where devs always over-promise and under-deliver. We are working on a comprehensive roadmap that is realistic and outlines feature delivery schedule without promising what cannot be done.Give us some time until after the alpha release to be able to provide visibility on this. We thank you again for your patience.
There is nothing that prevents anyone from individually trading TXAD with one another.
We have completed our buyback and reduced the circulating supply. The team is fully committed to the project. Every team token holder locked its tokens for 9 more months.
The vesting schedule presented in the tokenomics document is, as far as I am aware, still up-to-date and current. In the interest of everyone watching the reserve acct closely, I can also add that we have recalled roughly 4 million tokens back to the reserve and they are not up for sale.
US SEC (Securities and Exchange Commission) considers all token-based fundraising to be what's called "Unregistered Securities Offering" Because of this default designation, it creates a situation where US purchasers are locked out so that the offering is overseas only. That reduces overall compliance cost and risk.
We continue to push code, and we have open sourced the smart contracts and SDO binaries. We have nine full time devs on Tacen / TXA side, and another 8 in Kawazu Sakura (Japanese subsidiary of Tacen) we are making steady progress towards feature parity with exchanges out in the market. Thank you for your continued support and we will give more frequent updates as we get close to alpha launch.
First, we have completed the TXAD airdrop, which will allow DAO to set parameters for the upcoming TXA DSL.Second, TXA token ecosystem, which has been outlined in the whitepaper, has different variant of the tokens, all acting to provide incentives to use TXA token TXA can be used as a fee replacement, at a minimum, and TXA acts as a buffer collateral for TXA DSL infrastructure (as outlined in the whitepaper)In short term, we will strive to launch the TXA DSL DAO, and start using it for platform level settings The team is working on creating a firm structure for Foundation (which will have an endowment of 10 million tokens) Project TXA will submit a Request for Proposal to the general public to create this Foundation. And the project team will select the best proposal with the most detailed implementation of the Foundation structure and administration
While Project TXA is an open source and global project, our affiliates have a good working relationship.Tacen is providing industry expertise and opinion to key decision makers. For an example, Tacen founder Jae Yang spoke in favor of the Wyoming Stable Token Act in front of the Wyoming State Legislature. They are also providing technical guidance on the state of DeFi and where crypto can help the state.Jae also spoke recently with Senator Lummis and Senator Barrasso at senators' offices in Washington DC.They were very supportive of efforts to bring crypto industry into Wyoming.
Project TXA deploys special smart contracts on each supported blockchain that traders can use to deposit funds. These funds are locked, and any supported hDEX exchange can respect those locked funds as collateral, then essentially on the exchange order book the trader can trade with IOUs. hDEX exchanges trust that the IOUs are backed by collateral, and controlled by the Decentralized Settlement Layer's network of SDPs. At no point does the hDEX exchange take custody of funds. SDPs reach consensus on a fair settlement by listening to the broadcasted trades.