TXA Project | A Hybrid Decentralized Exchange Offering Cross-Chain Settlement of Trades
HANOI, VIETNAM / September 20, 2021 / TXA App is a part of the TXA project. The TXA ecosystem project includes a Decentralized Settlement Layer (DSL). The DSL is an open-source technology facilitating fast and secure cross-chain digital assets settlement. The users wanting to harness the functions of DSL must hold the TXA token. In addition to this, the TXA project has partnered up with Tacen Inc., to build the first Hybrid Decentralized Exchange (hDEX). The hDEX will have the speed and innovative features of a centralized exchange plus the security provided by the TXA DSL. Recently, the TXA Project has been audited by Certik, while audits by other third-party firms are in the pipeline.
Understanding the Hybrid Decentralized Exchange
Project TXA understands the shortcomings of centralized and decentralized exchanges and that is why it is building a new ecosystem that combines the best of both worlds. Centralized exchanges involve counterparty risk, a lack of transparency and privacy, whereas decentralized exchanges are slow, high costs, and lack cross-chain interoperability. Project TXA and Tacen have partnered to fix these issues by bringing the hDEX to the world.
The hDEX gives more control to the traders in terms of self custody as well as ensuring that they are operating under the same settlement rules, which are consistent across all the boards. The project team is also building the first cross-chain settlement system for asset trading.
This means that the users working on the platform will exchange with more speed, better security, and fast order matching. The hDEX is also democratizing the blockchain. Democratizing means that the community can make decisions about the procedures on the platform. For instance, the community can decide whether or not to approve a new trade transaction from taking place via the platform. This provides better and more inclusivity along with greater access.
SDO Oracles on the hDEX Architecture
TXA token holders will be allowed to work on Settlement Data Oracles or SDOs, which is an important part of the TXA project. The purpose of SDO is to provide the settlement data to conclude the P2P settlement.
Every executed trade is broadcasted to the SDOs, which record and provide information regarding the debit/credit relationship between the traders. The SDO operators can ask for a fee for their services, which allows the TXA token holders to earn by working as SDOs.
TXA Token and Its Uses
The $TXA token is an integral part of the entire TXA ecosystem and has been built to provide multiple use cases as well as benefits. Initially, the TXA token holders can operate the SDOs on the platform.
About the TXA Project
The TXA project is primarily a Decentralized Settlement Layer (DSL), which includes hDEX and is enabled with the $TXA token. Using the platform means the users will get a secure, transparent, low-cost, and non-custodial settlement system for digital transactions. It’s the hDEX and the SDOs that will provide an easy exchange of information between traders and secure the transaction while ensuring transparency by democratizing the platform.
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