See Ad Disclosure
Founded in 2016, 0x is one of the first-ever smart contract-based applications launched on Ethereum. The protocol saves users money by automatically routing on-chain trades through the cheapest available exchange.
We spoke with Founder Amir Bandeali at the Permissionless Conference in West Palm Beach to learn more about the $70 million Series-B fundraising his team recently completed. Here's what he had to say:
“Our thesis is that basically, every single application that involves blockchain will at some point want to tap into liquidity. I think it'll become one of the main business models in this space.”
“We're still pretty aggressively growing as a company. You know, it's a pretty complex technology stack. We're working on a few different core products. 0x API our aggregation API as well as Matcha, our user-facing decentralized exchange aggregator, and just growing the team to continue iterating on these things, for 0x API to be the highest coverage possible liquidity aggregator out there. It's already live on 7 different blockchains.
On Powering Coinbase’s NFT Platform
0x protocol is also fundamental to Coinbase’s new NFT platform, which Bandelai commented on, “So the 0x protocol is a system of smart contracts that underpins everything we do. It's what actually facilitates the trade settlement and makes the trades non-custodial. No one ever is taking control of a user's assets. And at 0x protocol, we want to broadly support all different forms of a decentralized exchange and NFT swaps fall into that as well. So we quite recently added NFT functionality into the protocol itself, and that's what Coinbase is using. So, they're driving all their orders through 0x protocol.”
The protocol is now decentralized but maintained by Amir Bandelai and the core team that launched it. The protocol earns revenue from the dApps that plugin 0x’s liquidity for a variety of financial applications. They earn this revenue in their native governance token, ZRX.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers’ terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.
