A decentralized exchange is best described as a peer-to-peer marketplace where transactions occur directly between cryptocurrency traders. DEXs fulfill one of the main possibilities of cryptocurrencies: to encourage financial transactions that are not officiated by banks, brokers, payment processors or any other intermediary.

FXDX dex, which is an order book dex backed by the Fusotao protocol, comes with several benefits for users who trade with it. Trade execution here is much faster than conventional swaps. It also offers zero gas fees in the defi world and the same experience as with centralized exchanges. To top it all off, the Community can share transaction fees by staking TAO on Fusotao-backed DEXs.

¿WHAT IS THE GENERATE KEY?

At Fusotao Protocol, team members always strive to meet users' needs and constantly improve the user experience.

Now, for a DEX with such impressive features, traders will want to keep trading until exhaustion. Additionally, 48% of the $TAO token will be allocated to merchants as a trade reward. You need to trade a lot and often to get these rewards.

For this reason, Fusotao is pleased to announce the addition of the “generation key” to FXDX, which basically allows users to grant access to their trading accounts to external users who are expert traders without granting them access to transfer funds.

Under this condition, you can use the software to trade automatically, and others can share your software. For example, if I want to share your software, I need to create my account and deposit some funds in my account, and then I give you my account address and password so you can log in to my account and trade, but you can only trade but not transfer funds.

In order for an external user to have access to your FXDX account to operate with your authorized funds, you must provide them with two elements: the address and the generated key. Let's use another Bob and Alice example, Bob trades FXDX while Alice is an expert trader known to Bob. On some particular days, Bob is busy with work, tired after doing a lot of trading, or wants Alice to trade for him. With this new feature, Alice can gain access to Bob's account to trade only with access to trading funds in Bob's account. Bob will make use of the key generation function and provide Alice with only her connected wallet address and the generated keys.

This is where FXDX steps in with a solution that can allow third-party users to trade on your behalf, in case you are exhausted to trade but still want to earn trading rewards from DEXs backed by them.

You can create your account and deposit some funds in your account and then generate the key for some market makers or professional traders. They can then log in with the address and password. In this way, they can only trade with this account, but cannot transfer the funds, and in this way both of them will share the trading rewards.