0x (ZRX)

What is 0x Protocol?

0x is an open-source protocol, a decentralized exchange infrastructure that allows users to exchange crypto assets on various blockchain platforms.

At its core, 0x is a set of secure smart contracts for the peer-to-peer (P2P) exchange of assets on the Ethereum blockchain. The protocol serves as a common standard and building block for any developer to use for building and developing services and products with asset exchange functions such as exchanges, wallets, and wallets. , games… In addition to smart contracts, 0x also provides developers with tools to manage and access shared liquidity pools.

To put it simply, 0x is an infrastructure built on Ethereum to create decentralized exchanges (DEXs), connect liquidity providers as well as incentivize the participation of investors. market creation. Thereby helping to propel the entire DeFi ecosystem forward.

Outstanding features

What is the project trying to achieve?

What can developers build on 0x?

0x is an open source project so anyone is free to use it as a liquidity puzzle in their product.

Demand (Takers)

• Exchanges like OTC, DEX, marketplace…
• Wallet
• Instruments, products, services of options or derivatives
• Products or services related to data management, portfolio, market prediction or investment strategy
• NFT-related products and services such as NFT Marketplace, games, etc.

Supply (Makers)

• Orderbook models, AMM…
• Trading bots

How does 0x Protocol work?

A Maker creates an order in the standard order message format. The order will indicate the type of asset that Maker is committed to trading such as tokens, NFTs, or bundles of assets.

The order is then hashed and the Maker commits with a digital signature to the order he created.

Orders are shared with counterparties. If the ordering Maker already knows their desired counterparty, they can send the order directly via email, text message, or the OTC platform. If Maker has not identified a partner, they can send an order to the order book.

0x API aggregates liquidity across all sources to provide the best price for Taker orders. 0x will help traders create, find and execute orders through an “off-chain relay and on-chain settlement” model. 0x will not store orders on the blockchain, but instead, these orders will be stored off-chain and transaction settlement will take place only on-chain. This unique feature makes 0x a flexible DEX protocol and saves on gas fees.

Taker completes the order by submitting the order and the amount they will pay into the blockchain.

0x will verify Maker's digital signature. If all information and conditions of the transaction are satisfied, the relevant assets will be swapped between Maker and Taker.

What is unique selling point?

Features of 0x (ZRX)

Liquidity network

Decentralized applications (Dapps) built and developed under 0x Protocol will be linked together into a network. Developers building Dapps based on 0x can share their liquidity pool with other Dapps on the same network. This helps to minimize slippage when users use Dapps in 0x's network.

Product focus

0x allows developers to build complex dApps as well as custom tools with various order types with just a few simple lines of command. 0x APIs and smart contracts are built and developed to offer the best price, fastest processing time and speed, and at the lowest cost to users.

Supports various Ethereum token standards

0x supports Dapps that trade many types of Ethereum token standards such as ERC-20, ERC-721, ERC-777, ERC-1155...

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