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0x Protocol is an open-source protocol designed for swapping Ethereum-based assets seamlessly and operates through the ZRX token. 0x aims to provide infrastructure where all ERC20 tokens can be swapped.
As stated in the WhitePaper, 0x(ZRX) provides an essential structure for the development of decentralized exchanges (DEX) on Ethereum. In short, the project performs as a building block for any developer requiring exchange functionality.
About the Team
Will Warren and Amir Bandeali established 0x Labs in 2016. 0x Labs has a mission-focused team comprised of talents from high-level companies like Coinbase, Google, Meta, Bitso, Microsoft, Citi, Spotify, and others.
Investors
Investors in 0x Protocol (ZRX) include companies like A.Capital, Jump Crypto, OpenSea, Coinbase, Brevan Howard, Reid Hoffman, and Jared Leto.
How does the Project Idea Work?
ZRX uses bridge contracts to benefit from the liquidity pools of both upper chain DEX networks. The protocol designs scan all top-level DEXs, including Kyber, Uniswap, MakerDAO’s Oasis, and many more. As a result, The platform uniquely combines Relayers and DEXs to provide users with a seamless trading experience.
Roadmap
The founders of 0x envisioned a more extensive vision for the platform initially, but later transformed it into a liquidity aggregator to support Ethereum-based asset trading. The 0x launched in October 2016, managed to collect a fund of 24 million dollars from leading sponsors like Polychain Capital and Pantera Capital during the Initial Coin Offering (ICO) process in 2017.
The platform has evolved over time, and in 2018, it started to support ERC-721 token trading. This enabled executing fast and efficient NFT transactions on various exchanges. In mid-2021, with the integration of Matcha, 0x allowed users to set optimal prices and trade on different exchanges.
0x is a platform managed by a DAO (Autonomous Organization) and backed by the governance token ZRX. This structure grants ZRX token holders the right to contribute and influence the platform’s future development. In addition, this allows 0x to let its community share strategic decisions of the platform and contribute to its development.
Ecosystem
ZRX enables users to swap their ERC-20 tokens without a central authority or intermediary. Relayers serves orderbooks for transactions. Relayers faciliates these transactions. These relayers can make revenue from trading fees and issue their tokens.
The 0x ecosystem includes various parties like developers build onto the protocol, users of decentralized exchanges, and investors involved in the project. To sum up, the aim of 0x is to make digital asset trading more efficient and accessible for everyone by harnessing blockchain technology and the benefits of decentralization.
0xProtocol(ZRX) Market Data
The circulating supply of ZRX is 847.5 Mn ZRX
The maximum supply of ZRX is 1,000,000,000 ZRX
Where can you get 0xProtocol (ZRX)?
0xProtocol Coin (ZRX) is available on many exchanges like Binance, Kucoin. You can use reference links HERE to register at a discount.
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