Cryptocurrency exchanges are categorized into two types: Centralized Exchanges and Decentralized Exchanges. Centralized Exchanges are under the control of a single authority that manages the exchange. On the other hand, Decentralized Exchanges aren’t under the control of any single entity.
Both of them have their own advantages and disadvantages. Centralized Exchanges have consistently high liquidity, fast transaction speeds which is why they account for the vast majority of the trading volume. Decentralized Exchanges don’t require personal information, the risk of losses is less since data is never stored in a single place. Moreover, Decentralized Exchanges are less prone to attacks by hackers due to their inherently complex structure.
However, both of these exchanges are riddled with their issues too. From security concerns and price manipulation risks in Centralized exchanges to Trade failures, slow transaction speed and order type limitations in Decentralized exchanges, both aren’t exactly ‘ideal’ experiences for a user/trader.
What if there was an exchange that could combine the advantages of Centralized and Decentralized exchanges on a single platform?
Overview
Tacen is the new breed of hybrid cryptocurrency exchange that combines the speed of CEXs with the security of DEXs to form a decentralized exchange with institutional-grade speed. The exchange aims to create a truly centralized global liquidity pool by connecting every ecosystem and community that supports its tailor-built smart wallet.
Tacen exchange is built upon the Tacen architecture which is blockchain agnostic in nature. It relies on a decentralized network of oracles running on DFINITY’s Internet computer to track and provide trade data for a unique coordinated settlement process.
Team
- Jae Yang – Jae has 17+ years of experience in software development including real-time and engineering simulations, e-commerce, IoT, and cryptocurrency.
- Clarence Liu – A seasoned executive, speaker, and panellist in the blockchain industry for over 3 years.
- Cameron Desmangles – He has built a career around delivering strategic solutions on behalf of the biggest brands in the world with specific expertise in DEI, human connection, SaaS, Cloud, and Supply chain.
- Corey Billington – He’s a Fintech and blockchain marketing strategist who founded his own blockchain marketing company in early 2017. Corey has worked closely with some of the largest projects to launch over the four years, including Celsius, Fetach.ai, and Umbrella Network.
- Hannah Pugel – Hannah has been working with Human Resources for over a decade and within the tech industry for five years. She has a degree in behavioural science and an MBA & focuses on ensuring compliance at Tacen.
- Arseniy Klemper – Arseniy has 4 years of experience working with open-source projects and startups in the Ethereum ecosystem and specializes in robust smart contracts focused on settlement and clearance.
- Alan Wang – Alan has 4+ years of full-stack software development experience in e-commerce, cloud, security, and cryptocurrency. He has held blockchain development positions at Sumo Logic and Huobi.
- Kirk Hutchison – Kirk is a software developer focused on formal methods and smart contract security and sees blockchain as the future of the global financial system and the foundation of the next computing paradigm.
- Brian Dunbar – He has 20+ years of systems administration and operations experience in entertainment, manufacturing, and conceriege managed hosting.
- David Jimenez – He is responsible for building relationships and partnerships in Latin America and has more than five years of experience working in development and sales in Spanish.
- Lucas Borges – He has more than two years of experience in online sales and marketing outreach.
- Eric Holmes – Eric is a ten-year military veteran responsible for the finance and accounting functions.
Investors and Funds
The team is backed by heavy-weight investors in the financial and blockchain industry:
- Moonwhale – An STO Financial Advisory based in the United States offering strategic advice on STO process and structure.
- Kenetic – A proprietary trading and VC investment firm focused on digital assets and blockchain-related companies.
- Titans ventures – An investment fund based in the Vietnamese market focused on bringing new and qualified projects to the local market strengthening the Vietnamese blockchain and crypto market.
- Pluto – An investment firm focused on decentralized technologies and connecting Web 3.0 to the global economy.
- Ternary Capital – An investment firm focusing on Web3 infrastructure and Financial Convergence Investments.
TXA Token
Tacen exchange doesn’t have its own native token. Moreover, since it is a hDEX (hybrid decentralized exchange), there needs to be a settlement layer that’ll ensure the settlement of peer-to-peer trades. TXA project aims to do so by creating a cross-chain decentralized settlement layer for hybrid exchanges like the Tacen platform.
TXA is a standard ERC-20 token of the TXA settlement layer that will ensure the settlement of peer-to-peer transactions. The maximum supply of TXA will be 50 million tokens. 4.5 million tokens will available at launch.
Tokenomics
TXA token allocation is as follows:
- Founders & Team – 8 million (16.0%)
- Operations – 7 million (14.0%)
- Partners & Advisors – 5 million (10.0%)
- Seed Round – 1.25 million (2.5%)
- Private & Public Sale – 4.375 million (8.75%)
- Foundation – 10 million (20.0%)
- Reserve – 14.375 million (28.75%)
Vesting
Token Generation Event will commence in the month of May. 1.25 million tokens will be available in the seed sale with a price of $2. 5% of tokens will be unlocked at launch and gradually more will be unlocked in a three-year period.
The platform will also conduct a private sale of 3.75 million tokens with a price of $3.50 each. 15% of these tokens will be unlocked at launch and more will gradually be unlocked in a two-year period.
625,000 tokens are allotted for the public sale. All the tokens will be unlocked at launch. Prices aren’t declared yet.
Roadmap
Tacen’s crypto exchange will be available to users in the third quarter of this year. The team is in process of integrating top blockchains like Ethereum, Hedera Hashgraph, Alogrand, RSC, and Tron blockchains. The closed alpha started in April this year.
Final Thoughts
The majority of the crypto exchanges have a centralized architecture that is faster in transactions but poses some serious threats and has its share of troubled past. On the other hand, Decentralized Exchanges have to catch up with CEXs in terms of performance and ease of use.
In this case, Tacen represents itself as a unique proposition, a crypto exchange based on the decentralized architecture having all the advantages of the centralized crypto exchanges without losing on the security aspect. The platform has quite a bit of potential to be a major alternative other than traditional exchanges and would be the ‘driving force’ for a flurry of Decentralized Exchanges.