0x (ZRX) is a protocol that utilizes the peer-to-peer (P2P) exchange of Ethereum-based assets, envisioning a tokenized ecosystem where all values can flow spontaneously. Established by 0x Labs, the protocol functions as an open-source and DeFi backbone for developers who need exchange options. Its simple features and solutions make it one of the most user-friendly platforms in the crypto space. 

0x Protocol was founded by Will Warren and Amir Bandeali in October 2016. Both have a clear history in finance and tech, which has helped the project gather considerable support from the market. On its initial coin offering (ICO) in August 2017, it secured a whopping $24 million in sales in less than a day, making up 50% of the maximum supply of the ZRX tokens. 

The ZRX token provides users with both governance and staking rights. The 0x protocol is supported by a community governance mechanism enabling 0x token holders to vote over development proposals for the network. This promotes unity in the community and gives top token holders claims over project developments. 

What makes 0x Unique?

0x protocol’s unique feature allows anyone to generate, create, launch and operate a DEX in the Ethereum Network. It also provides liquidity across the whole market. Developers can save a lot of time and money, since there are no fees collected on the platform. Thanks to the connection of an off-chain relay with an on-chain arrangement system, they only pay gas fees. This strategy helps reduce congestion in the Ethereum Network. Another advantage is the advanced application programming interface (API), where users can scan the best price for their assets in the market.  

Overall, the 0x (ZRX) protocol has done well in its aim to simplify the generation of DEXs. Its genuine strategy helped it to become a robust support platform within the network. ZRX’s multi-network strategy makes the network a significant protocol that allows developers to provide a unique but straightforward user experience.