Tacen

LAUNCHED ON 2023-SEPTEMBER-05

TL;DR: How to solve custody risk, cross-chain bridging risk, and align incentives between traders, exchanges and capital deployers (ie stakers)

Tacen is the first to build on top of the TXA Network, the product is called hDEX (hybrid DEX) — The orderbook is centralized, while the settlement of trades are decentralized, powered by the TXA Network:

Tacen Exchange and Tacen Swap

HERE’S HOW IT WORKS: 

Project TXA is the protocol on the backend, any exchange or swap (what we call Participant Interfaces) might adhere to the protocol, we call this the Decentralized Settlement Layer (DSL).  

The Decentralized Settlement Layer is made up of nodes that we call Settlement Data Providers, (SDPs) ran by the community, providing data to the network.  Currently, the community is able to stake collateral, and can earn a % of the trading fees of each trade.  

The oracles are listening to trades that happen on the Participant Interfaces (PIs) (like Tacen Exchange and Swap) — when a user wants to settle (or withdraw their assets from their Asset Custody Contracts), that request is made to the SDPs, which then calculate the obligations related to that wallet. 

The funds for each party of the obligations related are then sent to their respective user-held wallets.