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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is 0x?

0x (ZRX) is a decentralized protocol that enables the peer-to-peer exchange of Ethereum-based assets. It facilitates secure, trustless transactions through off-chain ordering and on-chain settlement, reducing gas costs and network congestion. The protocol is built by 0x Labs and serves as a core DeFi building block, offering tools and infrastructure for developers to create decentralized exchanges, marketplaces, and other applications.

How is 0x used?

0x (ZRX) is a decentralized protocol that facilitates the peer-to-peer exchange of Ethereum-based assets. It allows users to create custom crypto asset markets by tokenizing assets and enabling their exchange through smart contracts, DeFi order books, and crypto liquidity pools. The protocol operates on the Ethereum blockchain and other EVM chains, aggregating liquidity from over 100 exchanges to minimize slippage and execute swaps at optimal prices.

The 0x protocol is used in various ways:

  1. Decentralized Exchanges (DEXs): 0x provides a framework for developers to build DEXs, which can be integrated into existing applications where exchange is a feature, not the core purpose.
  2. Tokenized Assets: 0x envisions a world where all types of assets, including fiat currencies, stocks, commodities, bonds, debt instruments, real estate, digital collectibles, and more, can be tokenized and exchanged on the Ethereum network.
  3. Liquidity Aggregation: The 0x API aggregates liquidity from multiple sources, enabling users to swap assets at the best available prices.
  4. Governance and Staking: The ZRX token is used for governance and staking, allowing holders to participate in decision-making and earn rewards.
  5. Marketplaces and Trading: 0x can be used to build marketplaces for digital goods, trading bots, and other DeFi protocols that require liquidity and exchange functionality.

Overall, 0x aims to create a more efficient, transparent, and equitable financial system by providing a decentralized and open-source infrastructure for asset exchange.

How do I store 0x?

To store 0x (ZRX) tokens, you have several options:

  1. Hardware Wallets (Cold Wallets): Ledger and Trezor are popular choices for secure offline storage. They provide a high level of security but may require a learning curve and are more expensive. Suitable for larger amounts and experienced users.

  2. Software Wallets: These are free, easy to use, and available as smartphone or desktop apps. They can be custodial or non-custodial. Custodial wallets manage private keys for you, while non-custodial wallets store keys securely on your device. Suitable for smaller amounts and novice users.

  3. Online Wallets (Web Wallets): These are free, easy to use, and accessible from multiple devices via a web browser. However, they are considered less secure than hardware or software wallets. Choose a reputable service with a strong security record, suitable for smaller amounts or frequent traders.

  1. MetaMask: You can store ZRX tokens in MetaMask by sending them to your MetaMask address. To view and interact with the tokens, open MetaMask, click on "Tokens" -> "Add Token," and enter the ZRX contract address (0xe41d2489571d322189246dafa5ebde1f4699f498).

  2. Atomic Wallet: This is a decentralized wallet that allows you to manage ZRX and other assets securely. It provides encryption and does not store your keys, ensuring control remains with you.

  3. Kriptomat: This platform offers a secure storage solution, allowing you to store and trade ZRX tokens with enterprise-grade security and user-friendly functionality.

  1. Exodus: Exodus is another option that allows you to store, buy, and sell ZRX tokens, providing a user-friendly interface for managing your assets.

When choosing a wallet, consider factors such as security, ease of use, and your level of experience with cryptocurrencies.

How to buy 0x?

To buy 0x (ZRX) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports ZRX trading. Some popular options include Uphold, HTX, WazirX, CEX.IO, Kriptomat, Binance, and Kraken.

  2. Create an Account: Sign up for an account on the chosen exchange. This typically involves verifying your email address and identity.

  3. Make a Deposit: Fund your account using a debit card, credit card, wire transfer, or Bitcoin (BTC). The deposit method may vary depending on the exchange and your location.

  1. Buy ZRX: Use your deposited funds to purchase ZRX tokens. This can usually be done through a simple and intuitive interface on the exchange's website or mobile app.

Remember to always follow the specific instructions and guidelines provided by the exchange you choose, and be aware of any fees and risks associated with trading cryptocurrencies.

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History of 0x

The history of 0x (ZRX) began in 2016 when Will Warren and Amir Bandeali started developing the project. On February 22, 2017, they released a white paper outlining the protocol's goals and functionality. The project conducted an initial coin offering (ICO) on August 15, 2017, selling half of the total supply of ZRX tokens (500 million) in just over 24 hours, raising $24 million.

In April 2018, David Sacks, former COO of PayPal, joined 0x's advisory board. On October 11, 2018, ZRX became the first Ethereum ERC-20 token to begin trading on the US-based cryptocurrency exchange Coinbase.

In 2020, the 0x ecosystem saw significant growth, and in 2021, Bitwise included the ZRX token in its DeFi Crypto Index Fund. The project continued to evolve, with the formation of 0x Labs in 2020, marking a transition towards decentralizing control of the protocol.

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How 0x works

0x (ZRX) is a decentralized protocol that enables the peer-to-peer exchange of Ethereum-based assets. It operates on the Ethereum blockchain and allows users to trade tokens directly through smart contracts, eliminating the need for a central intermediary like an exchange. Here's how it works:

Key Components
  1. Smart Contracts: 0x uses audited smart contracts that operate on the Ethereum blockchain. These contracts handle transactions between buyers and sellers, ensuring secure and efficient transactions.

  2. Off-Chain Layer: The off-chain layer consists of Relayers, which act as intermediaries between buyers and sellers. Relayers allow users to place and execute trade orders without directly placing them on the blockchain, reducing transaction costs and increasing speed.

  3. On-Chain Layer: The on-chain layer consists of smart contracts executed on the Ethereum blockchain. These contracts ensure that transactions are handled securely and efficiently, and users' assets are safely stored.

Trading Process
  1. Makers and Takers: There are two primary sides to the 0x ecosystem: Makers and Takers. Makers provide the supply side of the market by creating orders, while Takers fulfill these orders.

  2. Order Placement: Makers create orders specifying the tokens they wish to exchange and the price at which they are willing to exchange them. If the maker knows their desired counterparty, they can send the order directly to them. Otherwise, the order is submitted to a 0x Relayer.

  3. Relayers: Relayers act as order books and facilitate transactions between buyers and sellers. They earn from trading fees and can issue their own tokens based on the 0x protocol.

  1. Order Execution: When a Taker finds a suitable order, they submit their cryptographic signature to the smart contract, which then executes the trade.
ZRX Token
  1. Governance: ZRX token holders influence the future of the 0x protocol through decentralized governance. They can submit proposals and vote on crucial decisions.

  2. Transaction Fees: ZRX tokens are used to pay transaction fees on the 0x network, although this is not mandatory.

  3. Liquidity Stimulation: ZRX tokens can be staked to encourage liquidity providers to add liquidity to decentralized exchanges and markets on the 0x protocol.

Benefits
  1. Interoperability: 0x promotes interoperability between decentralized applications (dApps) to facilitate the adoption of DeFi (decentralized finance).

  2. Customizability: The 0x protocol is modular and customizable, enabling developers to easily build their own dApps.

  3. Efficiency: 0x aggregates liquidity from over 100 other exchanges to minimize slippage and execute swaps at optimal prices.

  1. Security: The use of smart contracts ensures secure and efficient transactions.
Ecosystem

The 0x ecosystem comprises various parties working together to create and operate decentralized exchanges on the Ethereum blockchain. This includes developers building on the protocol, users of decentralized exchanges, and investors involved in the project. The goal is to make the trading of digital assets more efficient and accessible to everyone, leveraging the benefits of blockchain technology and decentralization.

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0x's strengths

0x (ZRX) has several strengths that make it a popular and effective platform for decentralized trading:

  1. Peer-to-Peer Exchange: 0x enables direct peer-to-peer exchange of digital assets, eliminating the need for intermediaries and enhancing security and efficiency.

  2. Liquidity Aggregation: The protocol aggregates liquidity from various decentralized exchanges (DEXs), providing users with the best available prices and reducing the impact of liquidity fragmentation.

  3. Decentralized and Open-Source: 0x is an open-source protocol, ensuring transparency and security through community scrutiny. It operates in a decentralized manner, without a central authority controlling transactions.

  1. Low Fees: 0x has minimal fees, as developers only pay gas fees for the network. This is achieved through the integration of an off-chain relay with an on-chain settlement system, which reduces congestion and costs.

  2. Governance Token: ZRX serves as a governance token, allowing holders to vote on protocol upgrades and developments, which can drive demand and influence the token's value.

  3. Interoperability: 0x promotes interoperability between decentralized applications (dApps), fostering the adoption of decentralized finance (DeFi) and enabling the creation of various dApps.

  1. Advanced API: The 0x API provides market-leading prices, achieving 99.9% uptime and a 1.5-second response time. It can be integrated with wallets and DeFi applications to offer exchange functionality.

  2. NFT Support: The protocol supports both fungible and non-fungible tokens (NFTs), allowing for the representation of diverse assets, from real estate to digital collectibles.

These strengths contribute to 0x's popularity and its ability to facilitate efficient, secure, and cost-effective trading of digital assets.

0x's risks

0x (ZRX) is considered a high-risk investment due to its volatility. It has a volatility of 11.98, which is significantly higher than the NYSE Composite, making it 19.97 times more volatile. This means that the prices of ZRX can fluctuate greatly, making it a risky investment for those with a short-term horizon.

Additionally, 0x has a Sharpe Ratio of 0.18, indicating that the digital coin had a 0.18% return per unit of risk over the last three months. This suggests that the potential returns may not be justified by the level of risk involved.

The risk gauge rank for ZRX indicates that it is currently a moderate risk investment. This assessment is based on how much money it took to shift its price over the last 24-hour period, along with analysis of recent changes in volume and market cap. The gauge is between 0 and 100, with lower scores equating to higher risk while higher values represent lower risk.

Furthermore, 0x's beta coefficient measures the volatility of the crypto coin compared to the systematic risk of the entire market. This indicates that 0x is highly sensitive to market fluctuations, which can increase its risk profile.

Overall, 0x (ZRX) is considered a high-risk investment due to its volatility and sensitivity to market fluctuations.

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Did 0x raise funds?

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0x’s team

  • Will Warren: Co-founder of 0x, involved in the development and governance of the platform.
  • Amir Bandeali: Co-founder of 0x, instrumental in the project's inception and ongoing development.

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