0x: Decentralized Trading for the Crypto Economy

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Traditionally, the financial system was governed by the country’s government as it used to determine the citizen’s economic freedom level. However, blockchain technology now presents an opportunity to create a decentralized global financial system free from the control of a single central body. It allows tokenizing of different forms of value, including fiat currencies, real estate, stocks, cryptocurrencies, debt instruments, and more.

Moreover, the blockchain market size in 2021 was valued at $3,757.49 million and is predicted to reach $190,682 million, which means its growing at CAGR of 54.7% during 2023-2030.

0x is an essential contribution to the tokenized world that has enabled parties to execute and settle token trades freely without any counterparty risks. Read further to uncover more insights about 0x company.

0x – Company Highlights

0x - About
0x - Founders and Team
0x - Startup Story
0x - Mission and Vision
0x - Trading Model
0x - Products
0x - Funding
0x - Partners
0x - Growth
0x - Competitors
0x - Future

0x - About

Based in San Francisco, 0x is a privately-held architect of web3 exchange infrastructure. It was founded in 2016 and is an open-source, decentralized exchange infrastructure for the emerging crypto economy. The company enables users to exchange tokenized assets of hundreds of billions of dollars across multiple blockchains.

0x powers multiple NFT projects, including Coinbase NFT, Trader, Gamestop NFT, Genie, and Proof of Beauty. Moreover, it is currently supporting 8 chains- Ethereum, BNB Chain, Celo, Polygon, Fantom, Avalanche, Arbitrum, and Optimism.

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0x - Founders and Team

0x was founded by Will Warren and Amir Bandeali.

Will Warren

CEO of 0x, Will Warren has earned a degree in Mechanical engineering from UC San Diego. He worked in multiple research roles and was appointed as Technical Advisor for Basic Attention Token (BAT) before launching his own company. He has achieved a lot at a young age and won the Consensus 2017 Proof-of-Work Pitch Competition.

Amir Bandeali

Co-founder of 0x, Amir Bandeali has graduated from the University of Illinois with a degree in Finance. He held the role of the trading specialist at Chopper trading and DRW before becoming the CTO of 0x.

Since the launch of the company, the number of employees has increased to 119. Currently, the 0x’s board comprises four members and the team is composed of 32 core members, including engineers, designers, and researchers.

0x - Startup Story

Will Warren and Amir Bandeali shared a belief that all forms of value would be tokenized in coming years and thus, with this belief in mind, they came up with the 0x project in 2016. The main idea behind it was to allow developers and businesses to develop new markets for their tokens on major blockchains- Ethereum and Avalanche.

The startup was successfully launched in August 2017 by conducting an ICO that raised $24 million by selling half of the total supply (500M) of its ZRX token in 24 hours.

The multi-millionaire company also operates the decentralized exchange (DEX) aggregator Matcha- a platform that aids traders in optimizing costs by discovering the best prices across multiple platforms. Moreover, in April, it collaborated with Coinbase- the largest cryptocurrency exchange in the US.

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0x - Mission and Vision

0x envision a world where all forms of value will be tokenized across public blockchains. Combined with a set of open financial primitives, the company is striving to build a transparent and efficient global financial system. Moreover, its mission statement states, “Build a tokenized world where all value can flow freely.” It truly believes that public blockchains can potentially act as a powerful equalizing force to the world.

0x - Trading Model

Based on smart contracts, 0x's protocol enables the peer-to-peer trading of crypto tokens built on public blockchains. Crypto tokens can include fungible tokens (standard crypto tokens), non-fungible tokens (NFTs), and bundles with different types of assets. Makers and takers are two sides of the 0x ecosystem.

A maker places an order stating what he wants and what he can trade. Each order is shared with counterparties and 0x finds out the order price for the taker. The order is accepted by the taker. In last, the company verifies whether conditions are met and exchange the maker’s and taker’s assets.

0x - Products

Its exchange architecture comprises orders that are executed on-chain through standardized smart contracts. Projects that use 0x are Paradex, Radar Relay, Ethfinex, and others.

0x Instant, 0x Launch Kit, 0x Mesh, 0x API, and AssetSwapper are the products used by consumers to conduct transactions like purchasing tokens or generating revenue for their businesses.

0x - Funding

Since it has the potential to grow in the future, 49 investors have invested their stakes in the company. Some of its investors are Alex Felix, Applied Crypto ventures, Fabric Ventures, ZMT Capital, Digital Strategies, and Coinbase Ventures.

The total funding amount that 0x has raised over 9 funding rounds is $109 million. The latest funding round was held in April 2022 - 0x Series B Round in which it raised $70 million with the participation of around 14 investors.

0x - Partners

Over the years, 0x has partnered with ZetaChain, Zapper, MetaMask, CoinMarketCap, BlueBit Finance, Prysm, and Rari Capital.

0x - Growth

The estimated annual revenue of 0x in 2022 is $15.5 million per year ($130,000 per employee). The current valuation of this multi-millionaire company is $1.1 billion (April 2022). In addition, it has enabled the flow of over $182 billion in tokenized value across 53M+ trades, with over 5.6M+ users.

0x - Competitors

Some competitors of 0x are Hippo labs, OpenSea, MojitoSwap, Matcha, Uniswap, and ZKSpace.

0x - Future

Ox is planning to integrate new chains (including non-EVM chains), invest in cross-chain functionality, expand its support for NFT swaps, and provide more support to integrators.

FAQs

How does 0x support the growing crypto economy?

0x supports the growing crypto economy by providing a decentralized exchange infrastructure that enables peer-to-peer trading of tokens on the Ethereum blockchain without the need for a centralized intermediary.

What role do 0x tokens (ZRX) play in the ecosystem?

The 0x token (ZRX) is used for decentralized governance, protocol fees, and liquidity rewards on the 0x network. ZRX can also be used to pay transaction fees, as collateral for decentralized loans and margin trading, and to align stakeholder interests in the ecosystem.