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What is 0x (ZRX)?

0x (ZRX) operates as a liquidity aggregator across various decentralized exchange (DEX) networks. The protocol enables the peer-to-peer exchange of DeFi assets in a cost-effective and frictionless manner. To accomplish this task, the developers introduced a standard protocol to the market that simplifies the tokenization of assets DeFi blockchains. Interestingly, 0x is a reference to the first letter of Ethereum wallets, 0x.

Since its launch, 0x has been met with market interest. The platform has continually expanded its market positioning since 2017 and now supports multiple networks including Ethereum, BSC, and Polygon. Today 0x operates as the back-end DEX protocols for over 30 projects. Additionally, there is a variety of Dapps that integrate the 0x API to provide secure DEX data.

What Problems Does 0x (ZRX) Attempt to Fix?

The developers behind the 0x concept wanted to help alleviate some of the stress Dapp developers and token users face. At the time of launch, the Ethereum token ecosystem was experiencing record growth. There were new tokens launching daily. However, there was a lack of reliable and secure DEXs in operation. This is where 0x found its niche market.

0x (ZRX) Homepage

0x (ZRX) Homepage

Developers Limitations

0x enables anyone to operate create, launch, and operate a DEX. Developers can save time and money by utilizing the various smart contracts created by 0x. In this way, the platform has helped further Ethereum’s adoption. It has also enabled anyone to operate a DEX, which has resulted in an explosion in the number of DEXs in the market.

Benefits of 0x (ZRX)

There are a lot of different benefits that 0x brings to the market. For one, the project is open source. The platform has undergone intense scrutiny from the Ethereum community and has been found to be coded securely. It’s also decentralized. The system operates as coding with no central authority to block or prevent transactions.

Best Rates

One of the main advantages of 0x is its ability to find the best prices for traders. Since 0x users can get pricing from off-chain DEX networks, it’s able to scan all available options. This strategy allows the system to discover the absolute best price on every trading pair. As part of this strategy, it combines liquidity across the entire market. This is only possible thanks to its advanced API (application programming interface).

No Fee

One of the best features and probably the biggest draw to the 0x platform is the fact that it has close to no fees. There are no fees to use the protocol for developers. They simply pay the gas fees for the network. The protocol is able to reduce fees significantly thanks to the integration of an off-chain relay with an on-chain settlement system. Keenly, this strategy also helps to reduce congestion.

0x (ZRX) Features

There are a lot of cool features that 0x DEXs can integrate. For example, the network supports end-to-end orders. End-to-end orders are user-specific. Only the person you decide can fill the particular order.

NFT Support

The network was built to support both fungible and non-fungible tokens (NFTs). Non-fungible tokens are used to represent specific assets. They can be used to represent anything from your car to real estate, to a particular Avatar in a video game. As of late, the NFT market has become one of the fastest-growing sectors in the blockchain industry.

How Does 0x Work?

0x utilizes bridge contracts to tap into the liquidity pools of both on-chain DEX networks. The protocol is designed to scan all the top DEXs including Kyber, Uniswap, MakerDAO’s Oasis, and many more. The platform combines Relayers and DEXs in a unique way to provide a seamless trading experience to users.

0x (ZRX) Relayers

Relayers are users that create a DEX using the 0X protocol. They hold a couple of responsibilities to the rest of the community. For example, they must host off-blockchain order books. For their assistance, they receive rewards derived from fees. Notably, Relayers can decide the fees for their services. Notably, the Relayers never hold assets directly.

0x - Twitter

0x – Twitter

0x Launch Kit

As part of their strategy to simplify DEX launches, the network offers the 0x Launch Kit. These tools help users create personalized DEXs. The interface is easy to navigate and makes it simple to set the fees and other vital components of your DEX. For example, you can choose your fee structure.

0x OTC

The 0x OTC is a peer-to-peer exchange protocol for DeFi tokens. It doesn’t require a Relayer. Over-the-counter crypto trading services have been around since the dawn of the industry. The 0x OTC helps make these transactions more secure. However, it does require a direct connection with the counterparty.

ZRX

ZRX is the main governance and utility token for the 0x ecosystem. The token launched in August 2017. Users pay fees and interact with the network’s services using ZRX. There is a total issuance capped at 1 billion tokens for the project. Also, you need to hold ZRX to gain voting rights via the network’s community governance system.

0x (ZRX) Community Governance

The 0x network integrates a community governance mechanism that enables token holders to put forth proposals regarding the future development of the network. These proposals are then put to a vote. The more ZRX tokens you hold, the more weight your vote holds. Community governance protocols help to keep projects in tune with their users. Notably, when a proposal gets voted into effect, the system will also issue out the funding from the community wallet. All of this is done via smart contracts and requires no human interaction.

This style of governance was first championed by the Ethereum DAO. Today, community governance features are common in the DeFi market. They help keep the community in unison and ensure that the top invested users have a say in the project’s developments.

History of 0x (ZRX)

0x was an early contender to the DEX market. The concept for the project first came to light in 2016. That was when the firm’s CEO, Will Warren, and CTO, Amir Bandeali joined forces to make the concept a reality. Notably, both founders have a history in tech and finance.

Will Warren received a degree in Mechanical Engineering from UC San Diego. He also has worked as a researcher on applied physics in the National Laboratory at Los Alamos. He is well known in the blockchain community. Notably, he won first place in the Proof of Work competition of 2017. Warren also served a role as the technical advisor for BAT (Basic Attention Token). Amir Bandeali received a degree in Finance from the University of Illinois in Urbana-Champaign. From there he went on to serve as a trading specialist at Chopper Trading and DRW.

The combination of these two experienced and well-known Ethereum community members helped the project to garner support from the market. Notably, this support came largely in the form of advisors. Notably, advisors for the project include Fred Ehrsam, the co-founder of Coinbase, and Joey Krug, the co-CIO of Pantera Capital.

ICO

0x launched an Initial Coin Offering (ICO) in August 2017. The event was a huge success with the platform securing $24 million in under 24 hours. This funding helped 0x continue on its trajectory as a major player in the Ethereum ecosystem.

0x (ZRX) Powered Platforms

There are a lot of cool platforms that rely on 0x to keep their users engaged and their systems functioning securely. The protocol is now a vital component of the Ethereum market. Here are some of the most notable platforms powered by 0x today.

NUO

NUO is a non-custodial DeFi lending platform. It eliminates the bank as the lender and allows regular users to lend out their digital assets. In exchange for their services, they receive rewards in the form of interest payments. You can also conduct trades using the networks DEX. Notably, this platform supports margin trading.

ZERION

ZERION is a DeFi investment interface. The platform simplifies DeFi staking, yield farming, and managing your liquidity pools. Users can see all the top gainers in the market at a glance using this interface. You can search, filter, and evaluate every single DeFi asset on the market. You can also buy and sell digital assets securely.

Fulcrum

Fulcrum is an ERC-20 based platform that offers tokenized lending and margin trading to Ethereum users. The platform offers a privacy-centric approach to DEX trading and includes some advanced trading ventures such as margin trades. The protocol is secure and non-custodial as well. Users can enjoy a frictionless trading experience with positions that automatically renew and zero rollover fees.

How to Buy 0x (ZRX)

0x (ZRX) is available on the following exchanges:

Kraken – This is the best option for USA residents.

BinanceBest for Australia, Canada, Singapore, UK, and most of the world. USA residents are prohibited from buying most tokens.  Use Discount Code: EE59L0QP for 10% cashback off all trading fees. 

BitPanda – This is the best option for residents of Europe, they do not accept clients from outside of this jurisdiction.

0x (ZRX) – A Well-Timed Project that Has Helped Expand Ethereum’s Network

Over the last four years, 0x has done its part to simplify the launch of DEXs. The network’s unique strategy has helped it to become a core platform within the sector. Ethereum has remained the top DeFi and NFT protocol in the market, but others have emerged. As such, 0x’s multi-network strategy has helped the network to remain a valuable tool that developers can easily access to create a better user experience for everyone.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Fx Analysis

Chart Art: Back-to-Back Yen Plays With AUD/JPY and GBP/JPY

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It may be the last trading day of the week in the forex market but that doesn’t mean you can’t sneak in a couple of pips before you close shop!

Check out AUD/JPY and GBP/JPY’s downtrends on the 4-hour chart.

Think you can make pips from these setups?

AUD/JPY 4-Hour Forex Chart
AUD/JPY 4-Hour Forex Chart

AUD/JPY is consolidating at the 81.25 area!

And why not? The level not only hits the 50% Fib retracement of last week’s downswing, but it also lines up with a mid-channel resistance AND a broken support earlier this month.

If you’re an Aussie bear, you can start loading them shorts as soon as you see some momentum. The 80.20 previous low is a good initial target but you can also aim for new monthly lows if the (bearish) force is strong enough.

Feeling like buying the Aussie instead? Look for new weekly highs for AUD/JPY and see if an upside breakout can lead to a retest of the 100 SMA closer to the channel resistance.

GBP/JPY 4-Hour Forex Chart
GBP/JPY 4-Hour Forex Chart

Don’t worry, you’re not seeing double. Guppy is showing us a similar setup, yo!

GBP/JPY is about to reach the 152.25 area that lines up with not only the 100 SMA but also the descending channel resistance that started gaining traction in late June.

This time, pound bears also have the support of a hidden (read: continuing) divergence on the chart.

Now who’s ready to sell GBP/JPY? The most recent candlesticks haven’t exactly hinted at a reversal yet, so keep your eyes peeled for the start of some selling. July’s lows are a good level to target but make sure you also lock in pips along the way in case the pound doesn’t go back to its previous support.

If you’re confident that the pound has seen its lowest levels against the yen this month and that GBP/JPY will break above its trend line resistance, then you gotta design trading plans around a possible upside breakout.

Good luck and good trading, my dudes!

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Fx Analysis

Weekly Forex Market Recap: July 19 – 23

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After a volatile start to the week on covid-19 fears, markets calmed down to a steady recovery by the end of the week.

The Canadian dollar was the top dog among the majors, not only rising with the recovery in risk, but also likely on rising oil prices as traders forecasts tightening supplies.

Notable News & Economic Updates:

Intermarket Weekly Recap

Dollar, Gold, S&P 500, 10-yr Treasury Yield, Bitcoin, Oil
Dollar, Gold, S&P 500, 10-yr Treasury Yield, Bitcoin, Oil

Risk aversion sentiment hit the markets at the start of the week as traders priced in fears that the recent rise in the covid-19 cases around the world would weaken the economic recovery. On the chart above, we can see the turn lower in risk assets (i.e., equities, oil, and bitcoin), as well as a fall in U.S. Treasury yields.

That sentiment lasted through Tuesday’s session, where a bottom in risk aversion sentiment seemed to quickly form, despite a lack of attributable news events or headlines. With no apparent catalysts for the shift in sentiment, that bottom was likely a “buy the dip” move by traders.

In the currency space, safe havens like the euro, yen, and Greenback benefited from the risk-off moves on Monday and Tuesday, and as expected in this environment, the comdolls were hard hit early on.

But as positive risk sentiment slowly recovered through the rest of the week, the comdolls eventually took the top spot among the majors, lead the Canadian dollar. The Loonie’s out performance was likely boosted by the swift recovery in oil prices as traders speculated that oil supplies would tighten.

The euro had the most notable scheduled event of the week for currency traders with the latest monetary policy statement from the European Central Bank. This event came inline with the expectations that the ECB would remain accommodative, raised their inflation goal to 2%, and re-iterated that they’re not too eager to pull emergency support anytime soon. Euro volatility quickly pick up quickly on the event, ending with the euro lower on the session.

USD Pairs

Overlay of USD Pairs: 1-Hour Forex Chart
Overlay of USD Pairs: 1-Hour Forex Chart

GBP Pairs

Overlay of GBP Pairs: 1-Hour Forex Chart
Overlay of GBP Pairs: 1-Hour Forex Chart

EUR Pairs

Overlay of EUR Pairs: 1-Hour Forex Chart
Overlay of EUR Pairs: 1-Hour Forex Chart

CHF Pairs

Overlay of CHF Pairs: 1-Hour Forex Chart
Overlay of CHF Pairs: 1-Hour Forex Chart
  • No major news or catalysts from Switzerland this week. Price action was mainly influenced by broad risk sentiment as discussed earlier.

CAD Pairs

Overlay of CAD Pairs: 1-Hour Forex Chart
Overlay of CAD Pairs: 1-Hour Forex Chart

NZD Pairs

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart

AUD Pairs

Overlay of AUD Pairs: 1-Hour Forex Chart
Overlay of AUD Pairs: 1-Hour Forex Chart

JPY Pairs

Overlay of Inverted JPY Pairs: 1-Hour Forex Chart
Overlay of Inverted JPY Pairs: 1-Hour Forex Chart

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Fx Analysis

One Simple Trick to Avoid Overtrading

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Most forex newbies often think that taking more trades leads to catching more profits.

The more setups you take, the better your chances of winning, right?

WRONG!

This isn’t the lottery, y’all!

Overtrading refers to taking so many trade setups to the extent that you lose your market edge.

One of my favorite trading psychologists, Dr. Brett Steenbarger, explains that the root of overtrading is the mismatch between one’s profit expectations and market volatility.

In other words, traders often feel the need to catch multiple market moves in order to hit their goals.

While it’s helpful to set trading goals, there’s one major problem with this line of thinking.

The market does not move based on your expectations!

This kind of mindset may lead a trader to overestimate his trading skills in an effort to reach his targets and mentally convince himself that he’s had a good trading day.

While this may work in some cases, it can wind up being harmful to your trading psychology when it makes you feel invincible and overconfident that you can trade in absolutely any market environment.

If you often catch yourself in this situation, don’t beat yourself up! It’s much more common than you think, and it happens even to seasoned traders.

You see, most of us have been conditioned to think that we must work harder and do more in order to achieve better results. While clocking in your 10,000 hours of deliberate practice has its merits, it’s a misconception to think that working harder equates to taking more trades.

Working hard means taking the best (a.k.a. high probability) trade setups.

This could involve waiting patiently or sitting on the sidelines if you have to. Doing nothing and refraining to take a trade when it’s not aligned with your strategy is a trading decision in itself.

Of course this is much easier said than done, so here’s one simple trick that can help you avoid overtrading:

Take only ONE TRADE each day.

That’s right, no exceptions. If you catch a big win, you’re done for the day. If you snag a loss, you’re done for the day.

Day trading coach and author Galen Woods calls this the One Bullet Action Plan.

Setting this absolute one-trade rule forces you to think like you have just one bullet left, which means that you have to aim properly and pull the trigger at the right time in order to make the most out of your only shot.

It sounds so simple, but it requires a lot of work.

You have to comb through the charts and all the available setups to see which ones line up with your strategy, so this addresses the psychological need to “do more.”

You must be extra picky in filtering out the “best” one for the day and at the same time be alert in catching the move.

Keep the wisdom of the great American philosopher Eminem in mind: “You only have one shot, do not miss your chance.”

What about undertrading?

Don’t worry about that just yet. Far more traders wipe out their accounts from overtrading than undertrading.

Once you are able to easily avoid overtrading, you’ll be able to fine-tune your market edge.

From there, sticking to high-probability setups will be like second nature to you, helping you stay consistently profitable in the long run.

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