One unified standard.
Taurus0x creates a new class of tradable assets for a slew of underlying markets. Our open standard unifies the way we trade speculative assets and incentivizes healthy competition.
Who Uses Taurus0x?
Experienced traders can participate in speculative markets and profit from market volatility, with a seamless experience accross the board.
Farmers, home owners, musicians and any other economic actors can now protect their assets against devaluation from unfortunate circumstances.
The versatility of the protocol allows DApp developers to build open-source or proprietary Fintech applications that comply with the guidelines of the foundation.
Taurus0x is not an exchange on its own. It is rather a market-maker protocol with native support for centralized and decentralized exchanges.
How It Works
Maker creates contract and specifies terms, off-chain for free. Maker shares contract with Taker, either directly, or via a relayer.
Taker decodes received contract, verifies Maker signature, and provides the Taker signature off-chain. Contract can now be published.
With both signatures encoded in the contract, it may be published to the blockchain. Funds are pulled out of participants wallets into the derivative contract.
Makers and Takers may execute a smart derivative directly on-chain and before expiration date. Funds will be disbursed out of the contract upon successful execution.
Benefits of Taurus0x
Taurus0x is 100% distributed without a centralized point of presence. The protocol powers decentralized peer-to-peer derivative trading. Taurus0x runs off-chain using state-of-the-art cryptographic functions, and settles contracts on the Ethereum blockchain with zero downtime and built-in trust management.
Taurus0x is not an exchange, rather a base layer protocol that powers derivative markets for any type of exchanges, not limited to cryptocurrency. Centralized and decentralized exchanges can plug and play Taurus0x in an existing ecosystem and have automatic support for futures markets.
Contract agreement is off-chain, for free over any network, and is secured using ECDSA. Client-side libraries provide a single POC for the blockchain smart contracts. API's may be developed on top for even simpler interaction.
Proxy and Smart Derivatives
The proxy is the brain of the protocol and is responsible for issuing smart derivatives, pulling funds and resolving addresses. The smart derivative is a smart contract that escrows and disburses funds according to contract terms.
Registries / On-Chain Data
Taurus0x uses Ethereum Name Service and custom registries to resolve addresses and allow for continuous development and integration.
1. Maker creates and signs contract with private key off-chain. The client can be a chrome extension, mobile app, website or other smart contracts.
2. Taker reads, verifies and signs contract off-chain from any client compliant with the open standard.
3. Maker or taker publishes the contract on blockchain (gas fee).
4. Maker or taker execute contract before its expiration. The green boxes are Ethereum smart contracts. The ENS is used to resolve our Exchange and Token Registry addresses. Good for continuous integration of the protocol.
The Exchange Registry resolves "exchange" names to addresses. The Token Registry resolves token symbols to addresses.