0x is a decentralized exchange protocol built on the Ethereum blockchain that allows for the peer-to-peer exchange of ERC20 tokens and other assets without the need for a centralized intermediary. The protocol enables efficient and secure trading by using off-chain order books and on-chain settlement, and supports various decentralized applications and use cases, including prediction markets, gaming, and stablecoins.
About $ZRX token
$ZRX is the native token of the 0x protocol, used as a medium of exchange and governance mechanism for protocol upgrades. Holders of ZRX can vote on proposals to change the protocol and receive a portion of trading fees generated on the network. The token has a maximum supply of 1 billion and was initially distributed through an ICO in August 2017. The ZRX token is listed on various cryptocurrency exchanges and can be used as a means of payment for services within the 0x ecosystem.
How to buy $ZRX with a payment card
1. Enter the amount of $ZRX and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $ZRX wallet
You are given the option to enter your $ZRX wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $ZRX with a credit and debit card.
1. Market Position and Adoption: As of March 2023, 0x's ZRX token holds a rank of #161 in the cryptocurrency market with a market capitalization of $182,556,581 and a 24-hour trading volume of $19,799,049. The token has been added to 137,854 watchlists and is supported by various crypto exchanges. The 0x protocol has gained significant adoption in the decentralized exchange (DEX) ecosystem, enabling trustless and efficient trading of ERC20 tokens and other assets. The protocol has been integrated into various decentralized applications (dApps) and has facilitated over $4 billion in trade volume since its inception.
2. Technology and Platform: 0x is built on top of the Ethereum blockchain, utilizing smart contracts and off-chain order books to enable decentralized trading. The protocol uses a modular architecture, allowing developers to build their own dApps on top of the 0x platform. The technology behind the protocol is designed to be highly scalable and interoperable, enabling integration with other blockchain networks. The 0x team has been actively working on improving the protocol's performance and functionality, including the development of new scaling solutions such as rollups and sidechains. Additionally, the team has been focused on improving the user experience of the protocol and expanding its adoption in the broader DeFi ecosystem.
3. Team: 0x was founded in 2016 by Will Warren and Amir Bandeali, who have extensive experience in the blockchain and financial industries. The team has since grown to include over 50 members, including developers, researchers, and business professionals. The 0x team has been actively involved in the Ethereum community and has collaborated with various blockchain projects to improve interoperability and scaling solutions. The team's vision for the protocol is to become a key infrastructure layer for the decentralized web, enabling secure and efficient exchange of digital assets.
4. Competition: The decentralized exchange ecosystem has become increasingly competitive in recent years, with various protocols vying for market share. Some of the notable competitors of 0x include Uniswap, SushiSwap, and Curve. While each protocol has its own unique features and strengths, 0x has distinguished itself through its focus on modularity and interoperability, enabling easy integration with other dApps and blockchain networks.
5. Supply: The ZRX token has a maximum supply of 1 billion, with a circulating supply of 847,496,055 ZRX as of March 2023. The token was initially distributed through an ICO in August 2017, with 50% of the total supply allocated for community development and adoption. The 0x team has implemented a governance model for the ZRX token, enabling holders to vote on proposals to change the protocol and receive a portion of trading fees generated on the network. The token has also been used as a means of payment for services within the 0x ecosystem, such as relayer fees and staking rewards.
1. Regulatory Risk: As with any cryptocurrency, ZRX is subject to regulatory risk as governments around the world continue to develop and enforce rules around the use and trading of cryptocurrencies.
2. Market Volatility: The price of ZRX, like other cryptocurrencies, can be highly volatile and subject to sudden fluctuations in response to market conditions, investor sentiment, and other factors.
3. Adoption Risk: While 0x has gained significant adoption in the decentralized exchange ecosystem, there is still the risk that the protocol and the ZRX token may not achieve widespread adoption or fail to meet user expectations.
4. Competition: The decentralized exchange ecosystem is highly competitive, with various protocols vying for market share. Increased competition could put pressure on the adoption and usage of the 0x protocol and the ZRX token.
5. Technology Risk: The 0x protocol relies on complex technology, including smart contracts and off-chain order books, which may be subject to bugs, hacks, or other vulnerabilities that could result in financial losses for users or damage to the protocol's reputation.
Potential market development triggers
1. Integration with Popular Decentralized Finance (DeFi) Applications: Increased integration of the 0x protocol with popular DeFi applications could drive demand for ZRX tokens as more users seek to use the protocol for decentralized trading.
2. Expansion of the Decentralized Exchange Ecosystem: As the decentralized exchange ecosystem grows, more opportunities for adoption of the 0x protocol and the ZRX token may emerge. Partnerships with other decentralized exchange protocols or new integrations with existing protocols could drive demand for ZRX tokens.
3. Improved User Experience: Improvements to the user experience of the 0x protocol, such as faster transaction speeds, lower fees, and better order book management, could help increase adoption of the protocol and drive demand for ZRX tokens.
4. Increased Marketing and Community Engagement: Increased marketing efforts and engagement with the community could help raise awareness of the 0x protocol and the ZRX token. This could include hosting events, creating educational materials, and incentivizing users to participate in the protocol.
5. Adoption by Traditional Financial Institutions: Adoption of the 0x protocol and the ZRX token by traditional financial institutions could drive significant demand for the token as it would signal increased institutional interest in decentralized finance and the potential of blockchain technology.