0x Protocol

0x Protocol is a decentralized exchange infrastructure layer built on Ethereum that allows developers to embed peer-to-peer token trading directly into their applications. It aims to solve the problem of fragmented liquidity and the need for trusted intermediaries when swapping digital tokens, serving primarily developers who build trading products and the end users who trade through them. ZRX is the native token of this system, launched in August 2017.

0x operates as an off-chain order relay with on-chain settlement, meaning trade orders are communicated outside the Ethereum blockchain but the actual exchange of tokens is recorded on-chain through audited smart contracts. ZRX has historically been used for governance, allowing token holders to vote on changes to the protocol, and it lives entirely within the Ethereum ecosystem. The protocol has no independent consensus algorithm or block time of its own, relying instead on Ethereum for finality.

The data stored for 0x Protocol does not include a fee revenue stream, which means fee-based measures such as protocol income or fee yields are not applicable here and cannot be reported. ZRX holders do not receive a share of trading fees through any mechanism captured in this dataset. The circulating supply stands at approximately 848,396,563 ZRX out of a maximum of 1,000,000,000, representing 84.84 percent of total supply issued, with roughly 17.87 percent of the maximum supply still to enter circulation.