The largest exchange on the 0x protocol will exclude the ZRX token from its system
CEO of a decentralized exchanges DDEX Tian Lee announced a fork of the 0x protocol, the result whom will remove the ZRX token of her systems. Updated protocol will receive the name Hydro and will be contain “schema new order, an engine capable of realizing juxtaposition applications, reliable market order system and different at a fundamental level, a liquidity distribution model ”. By words Lee, “ZRX token based on fees was a big problem”.
The practical value of the ZRX token has been repeatedly raised by community members. White paper 0x describes two him key functions: management and collection of commissions. Since the complete 0x management model before still not was implemented, the token found only one use besides speculation – payment for the services of so-called relayers to gain access to books applications and bidding. Together with themes, relays may function successfully without ZRX.
IN the present DDEX time is an the largest exchange on the 0x protocol – it accounts for 46.4% of the trading volume of relayers, notes The Block. According to service 0xtracker, for the last $ 142,218 deals went through DDEX 24 hours. Remarkably, that DDEX never used the ZRX for collection of commissions.
As Lee points out, over the last time opportunities 0x have expanded significantly, including the exchange of nonfungible tokens, instant exchange, management and much more, but decentralized exchanges “continue to experience rudimentary problems in Tom number of order conflicts, outstripping deals and low liquidity “.