0x Protocol operates as a peer-to-peer exchange built specifically for Ethereum-based assets. It was created by 0x Labs and enables developers to access exchange functions without needing to build the facilities themselves. One of 0x Protocol’s main goals is to increase access to non-traditional asset types and their markets. This includes facilitating the creation of markets for any type of asset without relying on financial intermediaries, essentially allowing users to tokenize and value any type of assets. Assets can include property or other physical items, as well as tokens representing stocks, bonds, or other cryptocurrency.

Some of its core benefits include increased security, audited smart contracts, and developer tools specifically for the 0x ecosystem, as well as an API for access to liquidity. As such, 0x provides the tools needed for decentralized exchanges to be built on top of the network and leverage these functionalities.

ZRX is Ox’s native token. It is used for governance and staking purposes.

What are 0x Protocol’s key features and how does it work?

The 0x Protocol has two main types of users. These are Makers and Takers. Makers are those who provide liquidity to the order book. They place orders within an 0x market and wait for it to be matched. Takers, on the other hand, place orders that can be matched instantly with already created orders. Another network participant, Relayers, are tasked with the role of enabling 0x order books to communicate with transactions for them to be settled on the network.

What can ZRX be used for?

The ZRX token is used for governance purposes. Holders of the token are entitled to vote on proposals submitted by members of the 0x community. This could include implementing changes to the parameters of smart contracts. Each token is equal to one vote and voting occur off-chain. As mentioned, ZRX is also used for staking purposes within the network. Stakers help the network by providing liquidity. They receive a proportion of the liquidity rewards from the transaction fees that are applied to trades for their work.

Where can you buy ZRX?

ZRX is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, AscendEX, OKX, and CoinBase Pro. The price of ZRX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for ZRX market prices, please view the price charts on this page.