Ox: Everything You Need to Know About Buying ZRX

History of 0x (ZRX)

0x operates under the legal name ZeroEx, International. It was founded on October 1st, 2016, by Amir Bandeali and Will Warren.

0x has its headquarters in the San Francisco Bay Area, West Coast, Western US. To date, 0x has raised total funding of $39 million from 24 investors. Some investors of the protocol include IOSG Ventures, Blockchain.com Ventures, DeFi Alliance, Pantera Capital, Nascent Ventures, Jump Capital, etc.

The conception and the subsequent launch of 0x were driven by the aim for a world where all forms of value could take the form of tokens on public blockchains. Here, forms of value imply the traditional finance instruments, including fiat currency, stocks, bonds, commodities, debt instruments, real estate, video game items, digital collectibles, software licenses, reputation, and more.

The short-term missions that 0x decided to accomplish to achieve its long-term vision included building public infrastructure and making assets more accessible and liquid. It also decided to empower enterprising teams around the world to build a new financial system. The vision of creating a tokenized world where value could flow freely weaved these missions together.

Advantages of 0x (ZRX)

The 0x API functions as a best-in-class liquidity aggregator. It helps users focus on their products and not worry about finding the best prices. The smart order routing system of 0x splits up a transaction across several decentralized exchange networks so that you get the lowest slippage possible.

Using 0x also frees you from worrying about adding new sources. 0x covers all the popular decentralized exchange networks, including Uniswap, Oasis, Dodo, Balancer, Mooniswap, Curve, Bancor, mStable, and more.

The professional market makers can offer competitive pricing through 0x’s RFQ system. The 0x API interacts directly with the market makers to supplement open liquidity with exclusive pricing. As a DEX aggregator, it integrates both on and off-chain liquidity. The API samples smart contract liquidity pools, such as Uniswap and Curve, to source on-chain liquidity. For off-chain liquidity, the protocol surveys open order books on 0x Mesh.

The performance of the 0x protocol is one of the best available in the DeFi world. According to data compiled, analyzed, and presented by 0x, 70% of the time, 0x API provides better-adjusted prices than 1inch, Dex Ag, Paraswap, and Uniswap. The adjusted price implies the price after transaction fees are paid.

0x Matcha is the global search engine for liquidity and markets. It helps DeFi developers and traders to buy and sell assets at the best price possible across all DEX liquidity sources. It is an explorer where you can search 26 exchanges at once. It is a safe platform to trade and charges no hidden fees.

Using Matcha, you can start trading directly with your wallet without having to open an account. It has no trading limits and does not cost extra on deposits and withdrawals.

Advantages of the ZRX Token

ZRX is an ERC20 utility token, powering the 0x protocol. ZRX serves both the purposes of staking and governance. At the time of writing this review, the number of ZRX tokens staked had already crossed the mark of 71 million. The ZRX staking rewards are denominated in ETH but distributed in WETH. There is no withdrawal deadline on rewards as long as your ZRX holdings remain staked. You can claim your rewards any time you want. All you need to do is go to the ZRX portal, connect your wallet, and click on withdraw rewards.

ZRX tokens give you governance rights over the protocol. As a ZRX holder, you can vote on 0x improvement proposals or ZEIPs.

Disadvantages of 0x (ZRX)

According to the researchers at Cornell Tech’s Initiative for Cryptocurrencies and Contracts, who reviewed the protocol’s publicly available Github code and white paper, the 0x code is incomplete.

The researchers also claimed the 0x project does not fully specify how it plans to use its ZRX token in a proposed governance scheme to upgrade the protocol. The researchers believe that this could lead to security risks.

0x uses ZRX tokens to pay for relayer fees (nodes are known as relayers). Since 0x makers and takers can identify one another through a publicly viewable order book, there is a valid scope for them to sidestep relayers and trade point to point, creating another potential problem. Many reviewers also believe that having a dedicated token to pay for ‘relayer fees’ is not prudent, as users can easily pay through Etherum’s native token, Ether.

Where Can I Buy ZRX Tokens?

ZRX is one of the 100 largest cryptocurrencies by market cap. Hence, it is available on many cryptocurrency exchanges. In fact, more than 200 different exchanges have ZRX available for trade. You can trade it for both fiat and crypto currencies. Among fiat currencies, you can buy ZRX for USD, EUR, GBP, etc., whereas, among cryptocurrencies, the available trading pairs include USDT, BTC, ETH, and more.

As 0x protocol itself is an Ethereum-based decentralized exchange, you can buy ZRX, its native token, from 0x exchange. Alternatively, you can buy ZRX tokens from Binance as ZRX/USDT accounts for over 10% of the entire volume of ZRX tokens. Other options to buy ZRX include:

• Binance
• Coinbase
• Gemini
• Kraken
• Huobi Global
• Bitfinex
• BitStamp