Description: An open protocol for decentralized exchange on the Ethereum blockchain
Blockchain: Ethereum (Token)
PoS: Yes
MN: No
Historic High: 2.53 $
Historic Low: 0.1039 $
Partners: Not specified
Exchanges: Binance, Coinbase Pro, Okex, HitBTC, Bitmart, Huobi…
Technical features: Cryptoeconomic protocols create financial incentives that drive a network of rational economic agents to coordinate their behavior towards the completion of a process While 0x is fundamentally a network protocol used to facilitate signalling between buyers and sellers (rather than a cryptoeconomic protocol), it is intended to serve as an open standard for dApps that incorporate exchange functionality.
Establishing and maintaining an open standard is a coordination problem that adds operational overhead for all contributing parties; coordination can be especially challenging when each party has different needs and financial incentives. Protocol tokens can align financial incentives and offset costs associated with
organizing multiple parties around a single technical standard. While aligning incentives around adoption is useful, protocol tokens can be used to address a much more challenging issue: future-proofing a protocol implemented within an immutable system of smart contracts via decentralized governance.