About 0x
0x (ZRX) is a decentralized exchange (DEX) built on the Ethereum network and powered by a fully peer-to-peer (P2P) system. It was launched in 2017 in San Francisco by 0x Labs, which was founded by Will Warren and Amir Bandeali.
0x’s underlying infrastructure consists of two distinct strategies that enable its trading capabilities: State Channels that allow for lower-cost trading by facilitating transactions off the Ethereum Network and Automated Market Makers (AMMs) that provide liquidity for P2P trading on 0x’s network.
0x’s native cryptocurrency, ZRX, is an ERC-20 token used primarily to pay trading fees to relayers who connect market makers with takers and ultimately, finish requested trades. Due to the Ethereum Merge, ZRX is now validated using proof-of-stake (PoS) consensus. ZRX price is updated and available in real-time on Binance.