0x Protocol

0x (ZRX) is a protocol built on the Ethereum chain that facilitates ERC-20 token trading for users. 0x manages to provide the functionalities and features of a Decentralized Exchange (DEX) by its set of purpose-built smart contracts. These are open source assets, thus developers have the chance to leverage their properties and implement the solutions into whatever they work on. ZRX is the native ERC-20 token of 0x, initially used for transaction fee collection. Later, it developed to give governance rights to its holders, who can now vote on the upgrades and general direction of the ecosystem. As of another overhaul in 2019, holders of ZRX got the option to delegate their tokens to 0x’s market maker protocol and earn compensation based on their lock period and total deposited amount.