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0x Protocol

0x Protocol ZRX

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About

What Is 0x (ZRX)?

0x is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the many different blockchains (including Ethereum) without relying on centralized intermediaries. It is a protocol for decentralized exchange.

0x achieves this decentralized exchange functionality using a collection of open-source, publicly auditable smart contracts that work together to produce a flexible, low-friction trading protocol that developers can easily weave into their products.

The protocol is used by companies building web3 apps such as wallets, DEXes, portfolio trackes, and others. It is a used by hundreds of developers for their projects. The protocol has facilitates over $200B in trading volume since its inception. One can track its usage in its dedicated https://explorer.0x.org/.

The protocol is powered by an ERC20 governance token known as ZRX. ZRX holders can participate in protocol governance, having direct power over protocol changes and its community treasury.

Who Are the Founders of 0x?

0x was founded in 2016 by Will Warren and Amir Bandeali. The two co-founders continue to serve the platform, with Will Warren as 0x's CEO, whereas Amir Bandeali is CTO.

The platform launched following a successful initial coin offering (ICO) in 2017, during which it raised a total of $24 million — with support from prominent investment firms including Polychain Capital, Pantera Capital and FBG Capital.

Prior to the sell-out ICO, Warren worked in several research roles and briefly held the role of technical advisor to Basic Attention Token (BAT). Bandeali, on the other hand, graduated from the University of Illinois with a BSc in Finance and held several trading positions before co-founding 0x.

Now the team is composed of more than 30 individuals, including engineers, researchers and designers who work to update the platform and keep it running smoothly.

Technical Details

How Is the 0x Network Secured?

0x is built on top of the Ethereum blockchain. As a result, it is protected against attacks by the combined efforts of the massive Ethereum miner and node network.

As for the underlying smart contracts, version 3 of the protocol has been audited by several third party firms which checked to see if there were any underlying vulnerabilities, backdoors and redundant functions, including ConsenSys Diligence — no major issues were found.

However, a vulnerability was found in the v2.0 smart contract, which was later patched by the 0x core team. This vulnerability was detected by an independent researcher and was not exploited. 0x continues to operate a generous bug bounty, to help detect and patch any issues before they can be exploited.

More Info

What Makes 0x Unique?

Unlike many other Ethereum decentralized exchange protocols, 0x supports both fungible (ERC20) and non-fungible (ERC-723) tokens. This means it can be used for the permissionless trading of a wide range of assets, giving holders a way to buy, sell and exchange the vast majority of Ethereum assets through more than a dozen different apps.

The 0x protocol can be applied to a wide range of use cases, including eBay-style marketplaces for digital goods and services, OTC trading desks, exchange functionality for DeFi protocols and plain-old decentralized exchanges.

Although 0x can be used to build highly flexible exchange products, it can also be built into products where asset exchange is a secondary feature — such as for in-game purchases and portfolio management platforms.

On the 0x protocol, liquidity takers pay a fee in the form of ZRX tokens — this fee is used to incentivize market maker (relayer) liquidity. Users also need to pay a protocol fee in the form of Ether (ETH), which is used to pay for the gas used in any transactions they complete. As an open-source protocol, 0x does not receive any share of this revenue, and is instead supported by ZRX tokens unlocked as team and developer incentives — along with its initial ICO funding.

How Many 0x (ZRX) Coins Are There in Circulation?

Like many digital assets, the ZRX token has a fixed maximum supply that will never be exceeded. This is set to 1 billion ZRX. Right now, around three quarters of this maximum supply is already in circulation, and just a small fraction of this is locked up for staking rewards.

Unlike many protocols, 0x has never publicly described the emission rate for new ZRX tokens, making it difficult to say how long it will take until the circulating supply is fully diluted. But with 50% of the circulating supply released when the token launched in August 2017 and 75% of the supply released as of October 2020, this indicates it may achieve full dilution in the early 2020s.

As per an early blog entry by 0x CEO Will Warren, half of the total ZRX token supply was sold to investors in the 2017 ICO, whereas 15% each is reserved for the 0x core development organization and external project development fund, while a further 10% is reserved for the founding team with a four year vesting schedule and one year cliff, and the remaining 10% is retained for early backers and advisors.

Where Can You Buy 0x (ZRX)?

ZRX is currently available to trade on well over 200 different exchange platforms, but the most popular ones include Coinbase Pro, Binance and BitMax. It can currently be traded against a range of other cryptocurrencies, including Bitcoin (BTC), Tether (USDT) and Ethereum (ETH), as well as several fiat currencies, including U.S. dollars (USD), euros (EUR) and South Korean won (KRW).

Looking to convert your fiat to crypto? Find out how.

AI Analysis

Analyzed on March 1, 2026

What is the 0x Protocol (ZRX) cryptocurrency good for? What are its main use cases?

The 0x Protocol (ZRX) is a decentralized exchange (DEX) protocol that enables peer-to-peer (P2P) trading of Ethereum-based tokens (ERC-20, ERC-721, etc.) without relying on a centralized intermediary. Its native token, ZRX, is used for governance and fee payments within the ecosystem.

Main Use Cases of 0x Protocol (ZRX)

  1. Decentralized Trading (DEX Aggregation)

    • 0x allows developers to build custom DEXs or integrate liquidity from multiple sources (like Uniswap, SushiSwap, etc.) into a single interface.
    • It supports off-chain order relaying (reducing gas costs) and on-chain settlement (ensuring security).

  2. Liquidity Aggregation

    • 0x’s Matcha (a DEX aggregator) and other integrations (e.g., MetaMask Swaps, Coinbase Wallet) use 0x to find the best prices across multiple DEXs.

  3. Governance (ZRX Token Utility)

    • ZRX holders can vote on protocol upgrades, fee structures, and other governance decisions via the 0x Community Governance Forum.

  4. Fee Discounts (Staking & Relayer Incentives)

    • Users can stake ZRX to earn discounts on trading fees.
    • Relayers (entities that broadcast orders) can also earn ZRX by providing liquidity.

  5. Cross-Chain & Layer-2 Support

    • 0x has expanded to Polygon, Arbitrum, and other L2s, reducing gas costs and improving scalability.

  6. NFT Marketplace Integration

    • 0x supports ERC-721 (NFT) trading, enabling decentralized NFT marketplaces.

Why Use 0x Instead of Other DEXs?

  • Lower Gas Costs: Off-chain order relaying reduces Ethereum gas fees.
  • Customizable: Developers can build their own DEXs or integrate 0x into existing platforms.
  • Interoperability: Works with multiple blockchains and DEXs.

Conclusion

0x Protocol (ZRX) is best for developers building DEXs, traders looking for better prices, and users who want to participate in governance. Its focus on liquidity aggregation, low fees, and cross-chain compatibility makes it a key player in the DeFi ecosystem.

Would you like details on how to use Matcha or stake ZRX?

Answered by mistral-small-latest (mistral)

What blockchain does 0x Protocol use? Is it its own blockchain or built on top of another?

The 0x Protocol is not its own blockchain but is built on top of existing blockchain networks, primarily Ethereum (ETH). It is an open-source, decentralized exchange (DEX) protocol that enables peer-to-peer (P2P) trading of ERC-20 tokens and other digital assets.

Key Details:

  1. Primary Blockchain: Ethereum (ETH) – The 0x Protocol was originally designed for Ethereum and operates as a layer-2 solution, reducing gas costs and improving transaction speeds.
  2. Cross-Chain Support: Over time, 0x has expanded to support other blockchains, including:
    • Polygon (MATIC) – A popular Ethereum Layer 2 for lower fees.
    • BNB Chain (BSC) – For trading BEP-20 tokens.
    • Arbitrum & Optimism – Other Ethereum Layer 2 networks.
  3. 0x API & Relayers: The protocol uses relayers (off-chain order books) and 0x API to facilitate trades, making it more efficient than traditional on-chain DEXs like Uniswap.

Summary:

  • 0x Protocol is not a standalone blockchain but a decentralized exchange protocol that operates on multiple blockchains, primarily Ethereum and its Layer 2 networks.
  • It leverages existing blockchain infrastructure to enable fast, low-cost token swaps.

Would you like details on how 0x compares to other DEX protocols like Uniswap or PancakeSwap?

Answered by mistral-small-latest (mistral)

Is 0x Protocol programmable? Does it support smart contracts or decentralized applications?

Yes, 0x Protocol is programmable and supports smart contracts and decentralized applications (dApps). Here’s how:

1. Programmable Smart Contracts

0x is built on Ethereum (and other EVM-compatible chains like Polygon, Arbitrum, and Optimism) and uses solidity-based smart contracts for its core functionality. Developers can interact with these contracts to:

  • Create custom order books (e.g., for DEXs, NFT marketplaces, or prediction markets).
  • Build automated trading strategies (e.g., arbitrage bots, liquidity providers).
  • Integrate with other DeFi protocols (e.g., AMMs, lending platforms).

2. Decentralized Applications (dApps)

0x’s open-source infrastructure allows developers to build dApps that leverage its off-chain order relaying and on-chain settlement model. Examples include:

  • Decentralized Exchanges (DEXs) (e.g., Matcha, DeversiFi).
  • NFT Marketplaces (e.g., NFTX, Zora).
  • Derivatives & Prediction Markets (e.g., Synthetix, Augur).
  • Liquidity Aggregators (e.g., 1inch, Paraswap).

3. Key Programmable Features

  • ERC-20 & ERC-721 Support – Trade tokens and NFTs seamlessly.
  • Gas-Efficient Settlements – Batch orders to reduce costs.
  • MEV Protection – Front-running resistance via RFQ (Request for Quote) and Sandbox modes.
  • Cross-Chain Compatibility – Works on Ethereum, Polygon, Arbitrum, Optimism, and more.

4. Developer Tools

  • 0x API – Access liquidity and market data.
  • 0x SDKs – Integrate trading into dApps.
  • 0x Mesh – A peer-to-peer order book for off-chain discovery.

Conclusion

0x is highly programmable and widely used in DeFi for trading infrastructure. While it doesn’t have its own native smart contract language (it uses Solidity), its open architecture allows developers to build custom dApps on top of its protocol.

Would you like help with a specific integration or use case?

Answered by mistral-small-latest (mistral)

How fast are 0x Protocol transactions? What is the typical confirmation time and throughput (transactions per second)?

The speed of 0x Protocol transactions depends on the underlying blockchain network (e.g., Ethereum, Polygon, Arbitrum, etc.) and the specific relay mechanism used (e.g., 0x Mesh, 0x API, or direct peer-to-peer orders).

Transaction Confirmation Time

  • Ethereum (L1):
    • ~15–30 seconds (assuming normal gas conditions).
    • Slower during network congestion (e.g., high gas fees).
  • Polygon (L2):
    • ~2–5 seconds (faster and cheaper than Ethereum).
  • Arbitrum (L2):
    • ~1–3 seconds (optimistic rollup with fast finality).
  • Other EVM-compatible chains (e.g., Optimism, Base, zkSync):
    • Varies, but typically 1–10 seconds depending on the chain.

Throughput (Transactions Per Second - TPS)

  • 0x Mesh (P2P Order Book):
    • ~10–100 TPS (depends on network conditions and relayer infrastructure).
  • 0x API (Centralized Relayer):
    • ~100–1,000+ TPS (scalable with multiple relayers).
  • Direct P2P Orders (Off-Chain Matching):
    • Near-instant (orders are signed and settled on-chain later).

Key Factors Affecting Speed

  1. Blockchain Network: L2s (Polygon, Arbitrum) are much faster than Ethereum L1.
  2. Relayer Choice: 0x API is faster than Mesh due to centralized infrastructure.
  3. Gas Fees & Congestion: High gas prices slow down Ethereum transactions.
  4. Order Matching: Off-chain matching (via 0x API) is faster than on-chain AMMs.

Comparison to Other DEXs

  • Uniswap (AMM): ~10–100 TPS (on Ethereum L1, faster on L2s).
  • PancakeSwap (BSC): ~100–300 TPS (BSC is faster than Ethereum).
  • 0x Protocol: Optimized for off-chain order matching, making it efficient for large trades.

Conclusion

  • Fastest on L2s (Polygon, Arbitrum): 1–5 seconds per trade.
  • Ethereum L1: 15–30 seconds (slower during congestion).
  • Throughput: 10–1,000+ TPS (depends on relayer setup).

For the fastest experience, use 0x API on an L2 like Arbitrum or Polygon.

Answered by mistral-small-latest (mistral)

How much data can I store on the 0x Protocol blockchain? Does it support on-chain data storage?

The 0x Protocol is primarily designed as a decentralized exchange (DEX) protocol for trading ERC-20 tokens on Ethereum and other EVM-compatible blockchains. It focuses on order book functionality, relayers, and liquidity aggregation rather than general-purpose data storage.

Does 0x Protocol Support On-Chain Data Storage?

No, 0x Protocol itself does not provide native on-chain data storage. However, you can interact with it using smart contracts, and those contracts can store data on the blockchain (e.g., order details, trade history, or user balances).

How Much Data Can You Store on Ethereum (or EVM Chains)?

Since 0x runs on Ethereum and other EVM chains, the storage limits depend on the blockchain's capabilities:

  1. Ethereum (Mainnet)

    • Storage Cost: Very expensive (~$0.10–$1 per KB, depending on gas prices).
    • Limitations: High gas fees make large-scale storage impractical.
    • Best for: Small amounts of critical data (e.g., trade records, contract state).

  2. Layer 2 (L2) Solutions (Optimism, Arbitrum, Polygon zkEVM, etc.)

    • Storage Cost: Cheaper than Ethereum mainnet (e.g., ~$0.01–$0.05 per KB).
    • Limitations: Still not ideal for large-scale storage but better for frequent updates.

  3. IPFS + ENS (Decentralized Storage + Linking)

    • Best for: Large files (e.g., documents, media).
    • How it works: Store data on IPFS, then link the CID (Content Identifier) to an ENS name or smart contract.

  4. Other Blockchains (Polygon, BSC, Avalanche, etc.)

    • Storage Cost: Varies (often cheaper than Ethereum).
    • Limitations: Different security and decentralization trade-offs.

Alternatives for Large-Scale Data Storage

If you need off-chain storage with blockchain verification, consider:

  • Arweave (permanent storage with blockchain anchoring)
  • Filecoin (decentralized storage with proof-of-retrieval)
  • Storj / Sia (encrypted, decentralized cloud storage)

Conclusion

  • 0x Protocol itself does not store data—it relies on smart contracts.
  • Ethereum (and EVM chains) can store small amounts of data but are expensive.
  • For large-scale storage, use IPFS + ENS or dedicated decentralized storage solutions.

Would you like recommendations for a specific use case?

Answered by mistral-small-latest (mistral)

Contact Us About 0x Protocol

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