KuCoin, the most trusted platform for trading cryptocurrencies proudly declares the listing of ox’s native token. ZRX is officially part of the tradable tokens of this exchange. Transactions such as ZRX deposit, withdrawal and trade are now available for all KuCoin users. Supported trading pairs are ZRX/BTC and ZRX/ETH.
It was October of the year 2016 when Amir Bandeali, along with Will Warren founded the oX project. They visualize a full-grown industry where all assets including items on digital games, fiat currency, gold, and stocks are classified as tokens in the Ethereum blockchain. It can result in thousands of different tokens needing a method of trustless exchange. Although decentralized exchange is undoubtedly a huge pace forward, some incompetence and operability issues remain unsolved. Ox’s objective is to build a standard protocol that will allow any ETH tokens to be traded and will enable the decentralized exchange to be operated by anyone. Relayers are parties that build on top of ox and charge fees for every service they made.
ZRX- The oX Token
ZRX is the official Ethereum token of ox. It can be used in paying trade fees to Relayers for their services. But, the core goal for having this token is decentralizing governance on the upgraded system of ox protocols. It means that ZRX owners can contribute to how protocols can be enhanced over time. You can influence or change the direction of a particular protocol simply by owning ZRX tokens. Holders have the decision power; the more tokens, the more influences. ZRX is a good and profitable investment for everyone.
Ethereum blockchain is a borderless and open financial system that signifies an extensive range of asset as a cryptographic token. Sooner or later, most crypto assets will be tokenized. In oX process, the order is transported off-chain; immensely decreasing gas expenses and eradicating blockchain inflate. Relayers help broadcast order and accumulate fees every time they do trades. Everyone can create a relayer.
oX’s Benefits and Advantages
ox is created on the distributed network of Ethereum. It has a trustless exchange wherein trades are established atomically. Transactions here can avoid risks, failures and down times. Also, relayers are aggregating liquidity pools easily. It can produce a network effect about shared liquidity that will compound whenever relayers come online. oX is free to use. Anyone can trade on counterparty for free and access relayers’ liquidity pool by paying them ZRX tokens. ox has a dApps’ building block which requires the functionality of exchange. Several developers use ox on their smart contract and web application.
The decentralized organization uses token to exemplify ownerships and guides governance logics. ox project allows a seamless and safe ownership trade for the decentralized organization. Prediction markets platform generates token sets which are representing financial stakes in the results of real events. The ox enables this token to be traded in an instant. To successfully issue a stable token, it requires an effective and liquid market. The ox will use an underlying economic mechanism that will allow the token to stay firm.