What Is Taurus0x?
Taurus0x is a new smart derivatives platform that is secure and decentralized. The platform works in a peer to peer network thaht is distributed via off-chain and on-chain protocols, which enables any type of asset to work on the platform.
How Taurus0x Blockchain Smart Derivatives Trading Works
The main benefits of this platform are that it is open source and 100% distributed without being centralized. The software runs off-chain while using the top blockchain technology and uses smart contracts based on the Ethereum blockchain to work.
It is important to notice that this project is not a crypto exchange but rather a base layer protocol that enables exchanges in the derivatives market, which means that the transactions are not limited to cryptocurrencies.
Taurus0x uses dualsig peer to peer contracts which are created, signed and shared off-chain and each transaction will be stored forever on the blockchain. These contracts allow exchanges to match orders and to verify and publish the transactions.
The whole structure of Taurus0x works based on the signed smart contracts. You can create a signed smart derivative by using the protocol of the company and then specify a condition and expiration date for the contract. After that, you can share it. The taker of the contract signs the contract using the Taurus0x platform and has the right to disagree on conditions and try to negotiate.
After both sides have signed the contract, the smart contract will go to the Ethereum blockchain, where it will remain forever. The contracts will be executed when the conditions are met.
The Taurus0x Road Map
The company has recently decided to launch its ICO and will make the release of the Taurus v1 platform and the Taurus0x API Service during the third quarter of 2018, at the same time that it start to make exchange partnerships. The dates were chosen because they are going to be after the ICO.
In the end of the year, the company will start to make third party integrations and the development for mobile apps, as well as the research and development of the decentralized governance protocol.
Taurus0x’s plans for 2019 include the release of the app for iOS and Android at the beginning of the year and Taurus v2 release at the second quarter, along with the DAO development and cross-chain development.
Taurus0x TAUR Token ICO Details
If you are interested in Taurus0x tokens, you can get them with 30% discount will if you buy during the pre-sale, which will last from June 21 to June 6. The main sale will start its first round on July 7 and go until July 26 with a 20% discount. After that, the second round will last until August with 10% discount and the last phase, which will not have discounts, will last until September 6.
The TAUR tokens will be sold for the price of 10,000 TAUR tokens for 1 ETH (without discounts) and the supply will be 250,000,000 tokens. The hard cap will be 20,408 ETH and you will have to be whitelisted via a Know Your Customer procedure to invest in this company.
Most of the funds, 40%, will be used in engineering, while 15% will be for operations, 15% for growth and 15% for marketing. The other 15% will be divided between the reserve, legal costs and the security audit.
Who Is Behind Taurus0x?
The creators of this company are concerned with the creation of a market that can offer what the other crypto and derivatives markets are not offering at the moment. The co-founders are Rawad Rifai and Brett Hayes. Other important members are Aymen Elsalim (Business Development), Greg Baghdassarian(Software), May Muhsin (Software Intern) and Muyuan Li (Software Intern).
The three main advisors of the company are Bernard Abdo, Rees Morgan and Jorge Sebastião.
This is a very interesting platform for the people who want to explore the full potential of the exchanges that use smart contracts and enter in this new market. We have some high hopes for how this platform will turn out if it is actually able to get its financing during the Initial Coin Offering.