The developers of the Ethereum protocol for decentralized exchanges 0x have presented its fourth version. The changes include reduced gas costs and new possibilities for combining different platforms.
0x Protocol V4 has been approved with a resounding YES!
Special thank you to the 2,362 unique $ZRX holders for participating in the vote to bring the most gas efficient and flexible version of 0x to users, market makers, and builders across DeFi! https://t.co/eazZvLARjJ pic.twitter.com/XHOPqP2SAe
— 0x (@0xProject) January 26, 2021
On January 23rd, the 0x community overwhelmingly approved the upgrade to v4. 2,362 unique ZRX holders took part in the voting. It has become the largest in terms of the number of native tokens involved (11.6 million).
0x Protocol V4 has been approved with a resounding YES!
Special thank you to the 2,362 unique $ZRX holders for participating in the vote to bring the most gas efficient and flexible version of 0x to users, market makers, and builders across DeFi! https://t.co/eazZvLARjJ pic.twitter.com/XHOPqP2SAe
— 0x (@0xProject) January 26, 2021
The project team has promised to cut transaction fees by 70% when requesting quotes and 10% when placing limit orders.
The new version of the protocol will reduce the costs of users when using liquidity with Uniswap and SushiSwap compared to trading directly on these DEXs.
v4 includes an intelligent order routing algorithm. It allows you to provide liquidity to a pool with any arbitrary token, exchange liquidity pool tokens or collateral on Compound or Aave landing platforms in a second.
0x got the function “plug&play liquidity “. The protocol will allow custom liquidity pools to be added through a standard interface before aggregating with other sources. This feature will presumably be appreciated by market makers and DEX creators working on the new generation AMM model.
Thanks to the new architecture and management process, the next 0x updates will go faster. The developers will present new proposals (ZEIP) in the coming months, which will be put to a vote.
Earlier, the Kyber Network team announced the transformation of DEX into “a hub of targeted liquidity protocols for a variety of DeFi use cases.”
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