Crypto Spotlight: ZRX
ZRX (0x) is one of six new cryptocurrencies now live in the Wirex app! ZRX lets you cut out the middleman and create custom crypto markets.
What is ZRX?
ZRX is an Ethereum-based DeFi protocol. It aims to allow users to tokenise assets, as well as buy and sell tokens that run on the Ethereum blockchain. It allows the creation of custom markets without the need for financial intermediaries.
Who created ZRX?
ZRX was founded by Will Warren and Amir Bandeali in 2016.
What does it do?
ZRX allows users to create markets for crypto assets that represent any kind of value. For example, real estate, stocks, bonds and other crypto assets. It’s also used to stimulate users to host and maintain order books, who gain exposure to fees paid when traders buy and sell assets on the platform. Additional ZRX-specific rewards can also be earned.
There are two types of users in an ZRX market:
- Makers – Users who provide liquidity to the order book. They place orders that don’t instantly trade. Instead, they wait for it to be matched.
- Takers – Take liquidity from the order book and place orders that match with existing ones.
What makes it unique?
ZRX is unique in how it rewards users for hosting and maintaining order books, as well as facilitating trades.
