CryptoFury Community x ProjectTXA
⏰ Time: Aug 22rd , 5:00 AM UTC
💰 Giveway : 200$
💎 Place : https://t.me/CryptoFuryCMs
TXA is building a new revolutionary hybrid decentralized exchange (hDEX) architecture. The TXA Decentralized Settlement Layer is a community-operated, open-source technology that provides settlement for multiple Exchange Platforms.
The hDEX architecture combines centralized exchange type orderbook features and speeds with the security of non-custodial smart contracts and cross-chain settlement services across a vast array of blockchains.
Question for Part 1- Project overview :
Question 1: Can you briefly introduce yourself as well as ProjectTXA ?
Jae Yang : I’m Jae Yang, Chief Architect of Project TXA
We’re building a Decentralized Settlement Layer (DSL), a community-oriented, open source tech that enables fast, secure, non-custodial, cross-chain settlement of digital asset transactions.
The DSL will be powered by the TXA tokens and can be integrated by any compatible smart contract enabled digital assets network
TXA layer is foundational for developing the digital asset exchange of the future. Tacen Inc., a US based, legal-first, software dev company which has partnered with Project TXA to develop the first hybrid-decentralized exchange (hDEX).
The hDEX will combine a centralized orderbook with order matching speed that rivals some of the fastest centralized exchange, with protection and benefit of the TXA Layer.
Question 2: What strengths does ProjectTXA have to compete with competitors?
Jae Yang : Well, we have assembled an excellent team.
Previously I was the Director of Engineering at Metal, designing the backend and leading the engineering team to deliver results for that crypto project
I was trained as an aerospace engineer, and safety assurance and dedication to quality is very important to me
My team and I have a deep background in engineering and compliance, which gives us unique insights in navigating the changing regulatory landscape.
Compliance-first approach is a key differentiator from our competitors
Tech-wise, hDEX and TXA DSL architecture will merge the best of both worlds — speed and security
In a world where BInance and COinbase are in legal proceedings because their “tech glitches” when high volatility hits preventing retail traders from accessing, we want to give traders more control
Question 3: Can you Tell the community about ProjectTXA Road Map? And Pointing Out Milestones In ProjectTXA Road Map?
Jae Yang :We’re building the new infrastructure for DeFi with the TXA DSL. We’ve made the token accessible now so that token holders can later stake to become Settlement Data Oracle operators
SDOs are an important piece of the TXA Decentralized Settlement Layer, which allows accurate reporting of trades for peer-to-peer settlement.
We will open source the SDO codes, and incorporate them into our alpha and beta release.
Alpha — Q1 2022, Beta — Q2 2022
Question for Part 2: Pre-selected questions from our community :
Question 1: Creating a token is easy. It is simple. But it takes professional intelligence to keep it valuable in the long term. So What is your plan to make you token valuable in the long run?
Jae Yang :We’re focused on developing the TXA Token ecosystem which we believe in. TXA ecosystem may allow holders to become Settlement Data Oracle operators, which may charge fees for providing settlement data requested by the traders for peer-to-peer settlement
Perhaps the token may also be used in various constituent hDEXes integrated with TXA Decentralized Settlement Layer as a fee replacement
Question 2: Many projects start but get stuck along the way, could you tell me if you plan to stay active and offer projects and opportunities to the community in the long term?
Jae Yang :I’ve traded a lot in many different venues, and I haven’t found the exchange that met all of my requirements — which is one of the reasons why I started this project.
I think that this day and age, traders need better assurance about their fund safety and privacy.
Long term commitment is hard to establish, but I think that given the open architecture that Project TXA represents, we will probably have partners who will also to develop the core tech and maintain the projects
Question 3: Do your project support staking program? If yes. how is your stake system work, can you tell me what is the requirement for user if they want to stake in your platform?
Jae Yang :As holder of TXA token, one may decide to stake on his / her own Settlement Data Oracle, and reap the benefits it will yield.
I mentioned earlier that SDOs may charge fees to the network for providing the necessary service of securing the settlement layer processes
One can think of SDOs as something like SETI @ Home but SDOs will provide valuable data that is required for completion of peer-to-peer settlement after the traders
Question 4: NFT is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?
Jae Yang :The legacy I would like to leave with Project TXA is a new approach to keep the traders safe, and make compliance with the law easier
We think that NFT marketplaces are great for surfacing new artistic endeavors
Project TXA and hDEX architecture will allow cross-chain payments for NFTs — which should unlock huge value for artists, technologists, and traders
We envision NFT marketplaces and auction markets to be easily integrated into the TXA Decentralized Settlement Layer
Question 5: How ProjectTXA liquidity mining ensure the valuable and good investment program for investors in long run?
How ProjectTXA ensure the distribution for all liquidity mining investors?
Jae Yang :We don’t see purchasing TXA as investment opportunity, because we view TXA token purchasers as future users of the TXA and hDEX technology
As far as liquidity mining, the term doesn’t apply to us so I don’t think I have an answer for that
However, on the subject of SDOs deciding to charge fees, the calculation and distribution will be fully on-chain and not something that any central parties determine.
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
Question 1: good day sir,
Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
Jae Yang :We have an Token audit from Certik, which gave us a great review. We had no major, minor, or changes that are required. Once we have SDO codes ready to be audited, we will do an internal review and release the audits as well
Question 2: How is your project development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Jae Yang :Development is going very well, we have contribution from Tacen Inc, and that company has about 10 developers working on the hDEX project alongside Project TXA.
Project TXA is in process of setting up the right foundation for incentivizing external code contributors, and allocation for the foundation is up to 10 million TXA tokens. We believe that this will provide ample opportunity for developer engagements.
Regarding commercial availability — as mentioned earlier, first working version (alpha) is slated to be Q1 of 2022, and beta access Q2 2022
Question 3: Can you list 2 killer features of the ProjectTXA that makes it ahead of its competitors?
Jae Yang :Cross-chain, trust-minimized peer-to-peer settlement of trades and allowing for faster order-matching and clearance
Question 4: Exactly which strategy does $ProjectTXA use to prevent your token from suffering inflation? How do you prevent the loss of value of your currency?
Jae Yang :We don’t have inflation of tokens. The token is limited to 50 mil exactly.