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.
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.
See more from Benzinga
The “Google” of Blockchains? Ethereum’s Missing Piece – Exclusive Interview With Tegan Kline
Funding Ethereum’s Open Source Development With Donations: GitCoin Founder Kevin Owocki Interview
Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Related Quotes
Cryptocurrency news: Ethereum soars on final test merge amid a general rebound. Meanwhile, Coinbase is under investigation by the SEC.
If a trend is even starting to form, there's a good chance that Martha Stewart will want it for her business. In the last year, the 81-year-old home lifestyle entrepreneur got seriously into NFTs. Along with launching an NFT boutique on her website, Stewart turned over 100 images from years of Thanksgiving photo shoots for "Martha Stewart Living" into online images that fans can buy as NFTs — from the overflowing leftover turkey sandwich to a horn of plenty given a modern, stylish spin.
Framework Ventures Co-Founder Michael Anderson joins Yahoo Finance Live to discuss the ethereum merge and what it means for the crypto space as well as Coinbase's decision to pause ethereum transactions during the event.
Losses arising from cryptocurrency hacks jumped nearly 60% in the first seven months of the year to $1.9 billion, propelled by a surge in funds stolen from decentralized finance (DeFi) protocols, according to a blog post from blockchain analysis firm Chainalysis released on Tuesday. In the same period last year, stolen funds from hacking amounted to $1.2 billion. DeFi applications, many of which run on the Ethereum blockchain, are financial platforms that enable crypto-denominated lending outside of traditional banks.
Eqonex Limited has closed its crypto exchange in order to focus on its custody and asset management business.
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
Chandler Guo, a prominent Ethereum miner, joined CoinDesk TV’s “First Mover,” to discuss his support for the blockchain’s upcoming proof-of-work fork.
The current price of stETH token implies a 7% chance of the Merge not succeeding, according to Enigma Securities.
In an effort to expand its social platform for virtual reality, Horizon Worlds, Meta is launching it in France and Spain today — building on the existing three markets including the U.S., Canada and the U.K. where it is already available. In a Facebook post, Mark Zuckerberg announced the launch with an unappealing photo and noted that it plans to expand the platform to more countries. Meta launched Horizon Worlds for all users above 18 years of age in the U.S. and Canada last year and made it available for users in the U.K. in June.
Every other Tuesday, a half-dozen people hop onto a Zoom call and talk about how to expose what they see as a global fraud phenomenon: cryptocurrency.
Rising corporate spending on digital transformation projects has boosted CRM stock. With the Slack deal closed, merger synergies will be key.
Warner Bros. Discovery has cut 14% of its HBO Max workforce, according to a new report.
The encrypted messaging app said an attacker had accessed either users’ phone numbers or registration codes through verification service Twilio .
When looking for the best artificial intelligence stocks to buy, identify companies using AI technology to improve products or gain a strategic edge, such as Google, Microsoft and Nvidia.
IDC’s Mobile Device Trackers Program Vice President Ryan Reith joins Yahoo Finance Live to discuss reports that Apple is planning to integrate ads across its app suite in an effort to increase ad revenue, the decline of global smartphone shipments, and the outlook for Apple.
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even…
Software growth stocks are still looking for a catalyst as the sector lags the S&P 500. Estimates could be revised down in the next quarterly earnings reports.
Winamp isn't content to just offer an MP3 player — it's launching a creator platform that includes a space for fans.
Zoom has patched a security hole that let intruders take control of Macs.
Android 13 is coming out of beta and will start rolling out to Pixels today, and it brings a few helpful new tools.
