Taurus0x protocol intends to bring P2P derivative trading to blockchain, for any asset and over any network.
Taurus0x protocol intends to bring P2P derivative trading to blockchain, for any asset and over any network. Taurus0x is not an exchange, rather a base layer protocol that powers derivative markets for exchanges of any type. Centralized and decentralized exchanges can simply plug-and-play Taurus0x into their ecosystem and have automatic support for derivative trading without a line of code. Traders are free to use Taurus0x client directly or an exchange they are used to. Taurus0x is an open source project intended to be governed by a Decentralized Autonomous Organization or DAO.
Taurus0x is a versatile protocol designed to be pragmatic and task-oriented. Taurus0x is asset-agnostic; this means it supports any asset with a price and not limited to cryptocurrency. Taurus0x is also network-agnostic allowing contracts to be transmitted freely over any medium (sms, email, social, etc.). And finally, Taurus0x intends to be blockchain-agnostic and operate over multiple platforms not just the Ethereum blockchain.
Smart Derivatives are contracts that behave like financial derivatives. Taurus0x uses state-of-the-art cryptographic functions to accomplish a high degree of security and data integrity.
Taurus0x operates in a brilliant off-chain / on-chain fashion while to preserve full decentralization. The off-chain nature of the protocol allows it to be a scalable solution capable to making a real difference in today’s financial markets. The chronological progression of a smart derivative is as follows:
1- Maker generates and signs a contract offline using a private key.
2- Taker verifies signed contract and provide their signature as well.
3- Contract is published to the blockchain. Funds are pulled from individual wallets into the derivative contract behaving as Escrow.
4- The contract is executed and the funds are settled on the blockchain in ERC-20.
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