Tacen is among the early open-source contributors to the TXA Project and plans to leverage the TXA Decentralized Settlement Layer for exchanges, with Tacens hDEX expected to be the first to adopt its technology. The full TXA Ecosystem will be transparent, open-source, and straightforward for anyone to review. By openly publishing trades to SDOs, the platform can be easily audited and used to demonstrate that every order is processed through a fair, defined approach.

Tacen also supports projects that want to launch tokens-each project gets its own dashboard for allocations, KYC, AML, and other related components-along with access to a distinct Tacen Exchange (hDEX).

Our goal is to broaden the system to support many exchange platforms and let it evolve into a standalone network, which we intend to help build from the beginning.

TXA Token & Governance

The TXA token serves as the utility token for our Decentralized Settlement Layer. It may be used as a fee substitute on exchanges that operate with the TXA Settlement Layer, or it can be staked to meet requirements for running a Settlement Data Oracle and for participating in network governance. This is a key detail. Community holders of TXA can provide decentralized settlement services for exchanges built on our Decentralized Settlement Layer and charge a fee for doing so.

It’s important to highlight that Tacen does NOT have a token. TXA is not Tacen’s token and does not indicate any form of stake in Tacen. The token’s usefulness is confined to the TXA Decentralized Settlement Layer and can be used by exchanges that rely on it for settlement services.

Tacen is a software company involved in building and designing a decentralized ecosystem that uses our token. Tacen’s conventional corporate structure means that ownership in Tacen is represented by equity and stock rather than by a token. In the same way, TXA does not represent any stake in Tacen-similar to how a token used in a decentralized ecosystem or a blockchain created by Google or Microsoft wouldn’t represent ownership in those companies.

TXA Ecosystem Governance

As our Ecosystem grows beyond Tacen’s future flagship exchange to support many more exchanges, it will support the settlement of additional digital assets such as NFTs and become increasingly global. As it scales, decentralized governance is needed to keep incentives and voting mechanisms consistent.

The TXA Governance system-comprised of TXA holders-will collaborate with the TXA Foundation to finance and develop the TXA Ecosystem, and over time Tacen is expected to take a reduced role in open-source contributions. At TXA, we believe it’s possible to create a global, high-speed, hybrid decentralized (hDEX) exchange network that is operated by users and stays aligned with the principles of blockchain and Web 3.0.