Flipside Daily Mover: ZRX
A coin per day, making big moves
ZRX Releases Beta of 0x Mesh
July 19, 2019
ZRX Developer Behavior is up 1.8% over the last 7 days. FCAS climbed 10-points (1.14%) as a result, with User Activity also ascending 3-points (0.33%) and Market Maturity spiking 7-points (1.08%). Price is down -10.48% over the same time period.
From Manual to Mesh
0x is an open source protocol built on the Ethereum blockchain facilitating the decentralized exchange of tokens. The basic model is “off-chain order relay, on-chain settlement”, where Relayers (hosts of off-chain order books built on top of the 0x protocol) aggregate orders, execute, and then settle them on the blockchain via 0x smart contracts. Users can also trade via the 0x platform. The ERC-20 token, ZRX, is a governance token that can be used to pay trading fees.
Today, ZRX released the beta of 0x Mesh, a peer-to-peer network that enables Relayers and traders to share and access orders across the entire 0x ecosystem. It is an enhancement of the team’s current Standard Relayer API (SRA) which requires manual integration of each individual Relayer’s SRA endpoint in order to access liquidity across order books.
0x Mesh solves the burdens of this current system by equipping Relayers with a node that automates order visibility across network participants. The node implementation greatly enhances the ability for peers to dynamically share orders across the network. ZRX fundamentals are up as a result of Mesh development efforts.
🌶️ Hot Take
While groundbreaking in its approach to resolving the inherent issues of both centralized and decentralized exchanges (DEX), 0x is exposed to criticism that its protocol leads to fragmented liquidity across Relayers. Competitors such as AirSwap (AST) have sought to capitalize on this deficiency by creating a global liquidity solution across Ethereum-based DEXs.
With the beta release of 0x Mesh, the ZRX team takes these criticisms head on, introducing an effective solution that solidifies its presence as a leader in the DeFi movement. Coupled with the introduction of several 0x Improvement Proposals (ZEIPs), and a focus on scalability and R&D, 0x is well-positioned to continue expanding the frontiers of DeFi and overall crypto adoption.
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