Earn on the Decentralized Settlement Layer (DSL)
A major update has come to Project TXA and our partners at Tacen Exchange: the ability to earn fees on the Decentralized Settlement Layer (DSL). Our engineers have been hard at work building out all components of the Project TXA <> Tacen ecosystem, and the addition of the ability to earn fees is one of the most crucial updates so far.
While Tacen Exchange is still running in its open alpha version, and all updates deployed are to the testnet version of Tacen Exchange, this marks a pivotal moment in the trajectory of Tacen and Project TXA and will allow for careful testing, tooling, and hardening of our infrastructure.
Here is how earning fees on the DSL will work:
The hybrid decentralized exchange (hDEX) uses a network of open-source, community operated Settlement Data Providers to process all transactions occurring on the hDEX. Any exchange that uses the hDEX framework, like Tacen Exchange, will need SDPs to process cross-chain transactions rapidly and accurately, and SDPs will need to be compensated for their work.
The compensation for performing the duties of an SDP will be paid out via the fees collected by the exchange (like Tacen Exchange) running on the hDEX. While these fees are small for the individual user making a trade, they will rapidly add up to a substantial payout to the SDPs when counted across the sheer number of traders we anticipate will use the hDEX to make their trades.
Specific details on how to become an SDP to begin earning fees will be released to the public in the future. However, what we can share at this time is that one of the basic requirements of becoming an SDP is to have a given amount of TXA tokens, plus at least one other token (the other half of the trading pair that you would like to provide services for) in order to meet the minimum qualifications. Further specifications for SDP selection and a step-by-step process will be released in the future.
Once an SDP is selected, the hDEX framework will automatically select available SDPs to process transactions, calculating the amount of payout earned by each SDP and depositing the correct amount of tokens into their wallet. We are working on creating a helpful dashboard that will allow SDPs to see information regarding their balances, fees earned, uptime,and perhaps even change the fee rate that they want to provided services for.
It's hard to overstate how important this is for Project TXA and Tacen, but we believe our community will understand the ramifications of one of the most important parts of our ecosystem becoming a reality.
New to Tacen and wanting to learn what it’s all about? Be sure to follow us on Twitter to catch the latest updates and join our Discord community to meet the team and make friends. We love to give crypto to our community, and staying active on our Twitter and in our Discord server are the best ways to be the first in line.
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