Protocon is a compound word of “Protocol” and “Economy”; a blockchain project that aims to build a self-operated digital economy based on protocols.

ISAAC+, Protocon Networks’s core Consensus Protocol, is designed for large-scale data processing for use in the industry, and has secured versatility so that it can be used in any area that requires blockchain technology.

Introduction

Currently, the imagination, will, and demand for blockchain technology are overflowing. However, the technology is not enough to meet those expectations.

A protocol economy in which promises and contracts between individuals and authorities that make up a community operate in a form that minimizes the intervention of intermediaries and agents. In other words, to build a protocol-based social system that works as agreed upon by the community, several things need to be supplemented.

Through this project, we are going to solve the problems that have long been suggested as ‘the tasks’ to be solved in the blockchain industry and ‘the needs’ for blockchain services.

Protocon Solution Plan

Needs

Solutions

Industry-ready data processing performance
ISAAC+ Consensus Protocol designed for large-scale data processing up to 5000tps
An environment that can continuously provide
blockchain services at an affordable and stable level
Provides a solution to the fee issues by controlling the volatility of fees
UI/UX that allows people to use blockchain services conveniently
Feefi provides improved usability
An actionable environment that can safely handle a variety of digital data and ensures the authentic operation of protocols
Provide a secure and convenient development method through the Model concept
Decentralized network in which the network operation rights are not attributed to a specific person or few
The Non-consensus Node Group in PBFT guarantees the free participation of nodes and presents a robust decentralized network

FeeFi (Fee Financing)

Generally, node monopolizes fees on blockchain mainnet. FeeFi is an important component of the Protocon Network's token economy, providing a structure in which entire ecosystem participants share commission revenue through liquidity provision.

Through FeeFi, we intend to present a solution to the three issues related to fees,
1) Adequacy of fees 2) Volatility 3) fee payment usability(UX) issues that have been raised as an issue in the blockchain industry.

What is FeeFi?

Feefi is a new way to solve the problems surrounding fees  by using Defi financial techniques for fees.

With a methodology called FeeFi, we will implement the added value created by the blockchain network so that the entire ecosystem can share.
FeeFi plays two roles in the Protocon Network
  • Let users solve all the issues related to the fee and share the fee income
  • Encourage users to engage directly in market conditioning by token staking

How FeeFi works

  • Users deposit PEN tokens on FeeFi DEX to create a PEN staking pool
  • Paid dApp token fees are exchanged for PEN tokens in the staking pool
  • Distribute revenue from exchanged dApp token fees to staking depositors.
  • The exchanged PEN tokens are distributed at 40% node operator, 50% liquidity provider, and 10% commons budget
  • Staking pool depositors are granted with the membership and the right to participate in the ‘Congress’, the highest decision-making body

Effects of FeeFi

1)
Allow users to pay fees with dApp tokens without obtaining mainnet tokens
2)
It is possible to use the blockchain as a 'service' by maintaining a constant fee based on the fiat currency (USD)
3)
The added value created by the blockchain, such as rewards and fees, is distributed to all participants in the ecosystem
4)
Establishing a staking structure that takes into account the entire ecosystem rather than node-centered architecture (implementing PBFT Algorithm that does not rely on equity)

Benfits of FeeFi Staking

  • Additional financial models can be developed based on deposited funds
  • Providing token depositors with the right to participate in the initial dApp project (PEN token holding premium)
  • PEN tokens and various dApp tokens are constantly exchanged through FeeFi to share profits with the community