0x Ecosystem Update, December 2020
Welcome to the December 2020 ecosystem update from 0x Tracker! ❄️ Each month we share highlights, network insights, trading trends, and news from across the 0x ecosystem.
💡 Highlights
- $9.00B in total volume traded on 0x protocol in 2020 (up 3,216% YoY)
- 0x API volume hits a weekly all-time high of $1.24B
- 1781.96 ETH (worth ~$1.93M USD at time of publication) distributed to 0x market makers as liquidity rewards in 2020
🌐 Network Insights
What an incredible year it’s been for DEX trading! In 2019, the total DEX trading volume across all significant platforms was ~$3B. In 2020, we saw that total increase to a mind-blowing ~$117B. 🤯 This represents nearly 3,900% growth in one year!!!
Similarly, the 0x protocol also saw tremendous growth in 2020 in both usage and market share. The ZRX staking system also saw encouraging increases across participation, total ZRX staked, and ETH liquidity rewards distributed to market makers and stakers. Given that this is the last update of the year, we thought it would be fun to share some of the impressive and fun metrics that we observed. We hope you enjoy it!
Key Metrics
🚀 $9.00B
Total volume [+3,216% YoY]
🤝 1,254,874
Total trades [+1,219% YoY]
📈 $288.13M
Highest daily volume (on Dec. 16, 2020)
🪙 1,879
Unique tokens traded via 0x [+180% YoY]
👩💻👨💻 141,185
Total users (i.e. unique wallet addresses) [+268% YoY]
⚖️ $7,172
Average trade size [+1,394% YoY]
Traded Tokens
🥇 WETH (Wrapped Ether)
Most popular token by volume [~$6.4B]
🥇 USDT (Tether USD)
Most popular stablecoin by volume [~$5.5B]
🥇 WBTC (Wrapped Bitcoin)
Most popular version of BTC on Ethereum by volume [~$883M]
👯 WETH-USDT
Most popular token pair by # of trades [380k trades]
And, the top 3 most popular tokens (non-ETH/WETH, non-stablecoin, non-BTC on Ethereum) by volume:
🥇 LINK
Chainlink [~$126.1M]
🥈 YFI
Yearn.finance [~$90.1M]
🥉 UNI
Uniswap [~$38.5M]
ZRX Staking
🥩 6,195
Total stakers (i.e. unique wallet addresses)
🌊 28M
Total ZRX tokens added to staking pools at time of writing
💰 1,781.96 ETH
Distributed to market makers as liquidity rewards [~$1.9M at time of writing]
🤑 312.01 ETH
Shared with stakers [~$330k at time of writing]
MVPs
🐳 $9.62M
Single largest trade (USDT-USDC trade on July 28, 2020)
⛽ ~6 ETH
Highest gas in USD paid on a single trade [~$6.4k at time of writing]
🏆 Tokenlon
App with most trades relayed on 0x protocol [436k trades]
⚡ Zapper
Rookie of the year — app with highest initial 30-day volume [~$24M]
Visit the Network Insights page to further explore the explosive growth of 0x.
🤝 Trading trends
📈 Top 10 tokens traded on 0x protocol, with the biggest % gains during the month of December (excluding stablecoins)*
* CoinGecko pricing data; ranked tokens only
📉 Top 10 tokens traded on 0x protocol, with the biggest % losses during the month of December (excluding stablecoins)*
* CoinGecko pricing data; ranked tokens only
💎 Top 5 tokens traded on 0x protocol during the month of December, by volume, not available on any major centralized exchanges*
* CoinGecko top 10 spot exchanges by normalized volume with a trust score of 8 or higher
Visit the Apps page to find a 0x-powered platform to trade on.
🗺 Ecosystem News
0x Labs | Organization focused on creating new markets in the 0x ecosystem.
- Watch the December developer and governance meeting
- 0x API rockets to an all-time high of $1.24b in weekly volume
- Announces the v4 vote
Augur | A decentralized, trustless oracle, and prediction market platform.
- A quick tutorial on using Augur Foundry to mint outcome shares in Augur markets, wrap them into ERC20 tokens, use them to provide liquidity, and settle them back into DAI
- Outlines future plans for Catnip
- Seeking UI feedback
Catnip | Simple, liquid, community-powered prediction markets.
- Launches catnip politics, the world’s first skin-in-the-game Twitter experience
DeFi Saver | One-stop management solution for DeFi protocols.
- Publishes stats on liquidation-avoiding, automatic debt repayments during Christmas Eve flash crash
DexKit | A next-generation DEX tool kit.
- New custom exchanges — Ethereum Yield, StakeDex, AltSwap, PeerEx Network
- December community update (video)
DODO | The on-chain liquidity provider for everyone.
- Upgrades to v1.5 and prepares for v2 in January
Furucombo | Build your own DeFi legos without knowing how to code.
- Metrics now being tracked on the 0x Tracker apps page
- Launches the COMBO token
Mask Network | Portal to the new, open internet. Encrypt your posts & chats on social networks.
- Integrates with 0x to trade inside Twitter. See it in action.
Matcha | A simple-to-use DEX aggregator built for everyone.
- Launches new year referral contest — refer your friends to Matcha and win ETH!
- Partners with RabbitHole to offer users the ability to earn ZRX for completing Matcha quests (campaign now ended)
- Introduction to Ampleforth blog post
Metamask | A crypto wallet & gateway to blockchain apps. Trusted by over 1 million users worldwide.
- Decrypt publishes their 2021 review of the Metamask wallet
- Warning on rotten seed phrases, a scam targeting new app installations
Metric | Gasless, community-owned DEX built by BUILD Finance.
- A new simplified UI was released. Learn more about Metric here.
- See all your limit orders in a single view
- BUILD DAO Open Call for Developers (dev mining)
- Teases Q1 14-day trading contest with daily prizes (details TBA)
- BUILD introduces Basis Gold
OctoFi | An open-source platform for aggregating thousands of DeFi investment opportunities.
- December general project recap and development recap
Opyn | The most powerful, capital efficient DeFi options protocol.
- Launches v2, with many new features and technical improvements
- Tutorial on how to trade options
Prysm | A collaborative trading economy built on open financial infrastructure.
Radar Relay | Simple and secure wallet-to-wallet and margin trading with the best prices in DeFi.
- Publishes their 2020 retrospective
Rari Capital | The first non-custodial fund that aims to produce lossless returns to investors through unique DeFi strategies.
- Announces migration to Enzyme Finance (formerly Melon Protocol)
- Integrates Saffron tranches for higher, risk-categorized yields
Tokenlon | A decentralized exchange powered by 0x protocol. Creator of imToken, an easy and secure digital wallet trusted by millions.
- Releases imToken 2.8.0 with new Tokenlon 5.0 aggregator
- How to stake ETH as an ordinary crypto user
Zapper | A simple dashboard for managing all your DeFi assets from one simple interface.
- Publishes their 2020 recap
Zerion | An all-in-one interface that allows users to deposit, invest, trade, lend, and borrow DeFi assets.
- December update and 2020 highlights
- Zerion brings the full defi experience to mobile
👩💻👨💻 Jobs
Exciting opportunities to work for teams building on the 0x protocol:
- 0x Labs, Matcha, and Periscope Trading are hiring for software engineers (back-end, front-end, full-stack, and protocol) and product marketing roles. All positions are remote-eligible.
- Metamask is hiring: Scrum Master, Product Manager, Mobile Engineer
- Tokenlon/imToken is hiring for engineering, operations, public relations, product management, design, user support, and business development roles
- Radar is hiring: DevOps Engineer, Software Engineer
- Zapper is hiring: Full-stack Engineer, Product Designer, Financial Controller
- Zerion is hiring: Senior Frontend Engineer, Lead Python Engineer
- Opyn is hiring: Researcher, Frontend Engineer, Software Engineer, Head of Sales and Operations
🎬 Wrapping Up
And that it’s for December! If you enjoyed reading this, be sure to subscribe to the newsletter to receive the monthly update direct to your inbox.
If you’re building on 0x protocol and have a project/hiring update to share, email hello@0xtracker.com to be included in next month’s edition.
Big thanks to our new contributors this month:
Brent Oshiro (0x Labs), Clay Robbins (0x Labs), Danning Sui (0x Labs), and Nikita (0x Community Ambassador).
Disclaimer: Historical token trading information and ecosystem updates related to integrations and token launches do not constitute or imply an endorsement, or financial advice, by 0x Tracker or 0x Labs.
