What is ZRX (0x)?

Did you know ZRX, the native token of the 0x protocol, sees millions of dollars in daily trading volume and was at the heart of notable regulatory attention in 2023? If you're curious about ZRX, what the 0x protocol does, and how to navigate its ecosystem safely, you've come to the right place. In this comprehensive guide, you'll learn what ZRX is, explore live price data, understand the 0x protocol's technology, get up to speed on governance and staking, and discover secure ways to buy and hold ZRX—including using OKX. Whether you're a crypto beginner or just new to ZRX, we'll also cover risks, regulations, top competitors, and real-world security tips to keep your funds protected.

What is 0x (ZRX)?

Quick facts:

• 0x protocol: An open-source protocol powering peer-to-peer decentralized exchanges (DEXs) on Ethereum and other blockchains.
• ZRX token: An ERC-20 utility and governance token used for protocol upgrades, staking, and fees.
• Governance: ZRX holders shape the protocol's direction through DAO voting.

The term 0x protocol refers to a set of smart contracts and tools for building decentralized exchanges. "ZRX" is the ticker symbol for the native crypto token of this protocol—sometimes called "zrx coin" or "zrx crypto." The protocol allows anyone to trade tokens directly from their own wallets. Its design bridges liquidity across major DEXs, making swaps cheaper and more efficient.

0x was launched in 2017 by Will Warren and Amir Bandeali to solve inefficiencies in early decentralized trading. Over time, it expanded support for multiple blockchains and introduced decentralized governance using the ZRX token.

• 0X price today
• How to buy 0X ZRX

0x Protocol Overview

The 0x protocol is an open-source framework for creating DEXs. Its key innovation is blending off-chain order relaying with on-chain settlement. This means users can post trades off-chain (saving on gas fees), but when trades are executed, they're settled on-chain, maintaining trustlessness and transparency. 0x supports a broad range of assets, from ERC-20 tokens to NFTs, powering liquidity aggregation on platforms like Matcha and OKX's DeFi integrations.

ZRX Token Basics

ZRX is an Ethereum-based token used to pay protocol fees, encourage liquidity provision, and facilitate decentralized governance. Holders can stake ZRX to earn rewards or vote on upgrades. Its dual role as both a utility and governance asset sets it apart from many competitors.

💡 Pro Tip: OKX provides a simple, secure interface for buying and using ZRX—ideal for both beginners and advanced users.

Current ZRX Price and Market Performance

Understanding the latest ZRX price trends is crucial for traders and investors alike. As of today, the ZRX price fluctuates between $0.30 and $0.40 per token, reflecting its active role in DeFi trading.

• Market capitalisation: Approximately $240 million (check OKX for real-time updates)
• Circulating supply: About 847 million ZRX
• Max supply: 1 billion ZRX

Recent months have seen ZRX trading volume consistently above $10 million daily, buoyed by DeFi activity and protocol upgrades. Users can monitor historical price swings and analyse recent performance directly via OKX's advanced trading tools, which feature detailed charts, volume indicators, and customizable alerts.

ZRX to USD Chart

For interactive charts and in-depth analytics, visit the ZRX/USD page on OKX.

💡 Pro Tip: Use OKX's "Price Alert" feature to get real-time ZRX price notifications so you never miss an opportunity.

The History of 0x and its Team

The 0x project began in 2017, positioning itself as an open-source alternative to centralized exchanges. Its initial coin offering (ICO) raised over $24 million, allowing it to fund development and build a world-class team.

Founders and Leadership

• Will Warren: CEO and co-founder, former applied physics researcher, experienced in blockchain engineering.
• Amir Bandeali: CTO and co-founder, background in quantitative trading and financial engineering.

The project boasts a diverse team and has benefited from advisors like Fred Ehrsam (Coinbase co-founder) and Olaf Carlson-Wee (Polychain Capital).

Project Roadmap & Funding

0x's roadmap includes consistent protocol upgrades, new multi-chain support, and increased DAO decentralization. Post-ICO, the project raised additional funds from top VCs including Pantera Capital and Polychain. Key milestones include the 0x v2 (ERC-721 support), the v4 upgrade (gas optimization), and partnerships with leading DeFi apps.

How Does the 0x Protocol Work?

The 0x protocol introduces a hybrid architecture for decentralized trading, combining the speed of off-chain order books with the transparency of on-chain settlement.

By outsourcing trade matching and orderbooks to so-called "relayers," the protocol minimizes on-chain congestion and gas costs. Once matched off-chain, trades are settled trustlessly via Ethereum smart contracts.

This structure supports:

• Peer-to-peer token swaps
• Advanced limit orders and RFQ (Request for Quote)
• Cross-DEX liquidity aggregation

0x simplifies building new decentralized trading platforms, and is continually updated through open-source contributions and DAO governance.

Order Books and Relayers

Order relayers host off-chain order books, letting traders post bids and asks without paying gas for every order update. Only settled trades hit the blockchain, keeping fees low. Relayers may charge fees paid in ZRX, promoting liquidity provision. This architecture lets 0x-based DEXs rival the efficiency of centralized exchanges while maintaining user custody of funds.

How ZRX Powers Governance and Fees

Holders stake their ZRX tokens and vote on protocol upgrades ranging from smart contract improvements to fee structures. ZRX is also used to pay protocol (and sometimes relayer) fees, aligning incentives between users and operators. The decentralized governance empowered by ZRX differentiates 0x from purely automated protocols.

ZRX Token Utility: Staking, Governance, and Rewards

ZRX isn’t just a speculative asset—it plays a key role in powering and governing the 0x protocol. From earning rewards to influencing network upgrades, ZRX holders are central to the ecosystem.

How to Stake ZRX

Staking allows users to delegate or directly stake ZRX for protocol rewards. On self-custody wallets like MetaMask, staking typically involves connecting to the 0x staking portal and selecting a staking pool. Some centralized exchanges, including OKX (if available), may offer one-click ZRX staking.

• Steps to stake ZRX:
  1. Obtain ZRX (e.g., via OKX)
  2. Transfer to a compatible staking wallet or use exchange staking
  3. Choose a staking pool and amount
  4. Monitor rewards and unstake as desired

Always weigh risks: staked ZRX may be subject to lockup or slashing in rare protocol incidents.

Participating in ZRX Governance

Governance is managed by a DAO, where ZRX holders propose and vote on changes. For instance, decisions on protocol fee adjustments or new integrations require broad community approval. In 2023, the DAO voted to enhance gas efficiency and expand cross-chain compatibility. This transparent voting mechanism ensures ZRX holders drive the protocol’s future.

Where to Buy ZRX (0x) and How to Store It Safely

ZRX is widely available, but choosing a reputable platform and secure wallet is key for safety.

• Buy ZRX on major exchanges: Options include OKX, Binance, and Coinbase. OKX stands out with low trading fees, fast onboarding, and a user-friendly interface.
• Store ZRX securely: Use self-custody wallets (like MetaMask or hardware wallets), the OKX Wallet, or exchange custody (least secure).

How to Buy ZRX on OKX

1. Register or log in at OKX.
2. Complete KYC verification for full access.
3. Navigate to "Buy Crypto" and search for "ZRX."
4. Choose a payment method and complete the purchase.
5. Your ZRX will appear instantly in your OKX account.

OKX uses industry-leading security (2FA, cold storage) and offers immediate access to trading, staking, and withdrawal features.

Best Wallets for ZRX

• Self-custody:
  • MetaMask (Web3 hot wallet)
  • Ledger (hardware wallet, top for security)
• Custodial:
  • OKX Wallet: Secure, easy, integrates DeFi/DEX access
  • Exchange wallets (adequate, but not as safe as hardware wallets)

💡 Pro Tip: For maximum security, transfer ZRX to a hardware wallet like Ledger. For flexible DeFi use, try OKX Wallet or MetaMask.

Security, Audits & Risk Factors

0x has undergone several formal audits but, like any smart contract project, carries certain risks. Staying informed and using secure platforms is essential for every ZRX holder.

Smart Contract and Protocol Audits

0x has been audited by reputable firms like ConsenSys Diligence and Trail of Bits. Ongoing bug bounties invite security researchers to find vulnerabilities, resulting in regular protocol updates and patches. No major exploits have been reported, reflecting strong code practices.

Managing ZRX Risks

• Smart contract risk: Bugs can result in loss of funds.
• Custody risk: Holding ZRX on an exchange exposes users to third-party risk.
• Governance risk: Protocol upgrades can alter token utility.

User best practices:

• Use 2FA and strong, unique passwords (see crypto security tips).
• Store large balances in hardware wallets.
• Check audit reports before interacting with new DApps.

Regulatory Updates: 2023 CFTC Enforcement and 0x Status

In 2023, the CFTC issued enforcement actions against several DAOs, shining a spotlight on DeFi regulation. While 0x itself was not targeted directly, these developments prompted a review of its structure and the ZRX token's legal treatment in the US and abroad.

Currently, the 0x protocol operates in a gray area: it enables decentralized trading but does not custody assets or make markets. ZRX is generally viewed as a utility/governance token, but its availability may be restricted in jurisdictions where crypto regulations are tightening. Users should check exchange compliance policies, especially in the US, UK, and EU.

OKX maintains a compliance-first approach, updating listings and user access in line with global regulatory frameworks. This helps ensure that buying, selling, and staking ZRX on OKX remains both legal and safe.

How 0x (ZRX) Compares to Other DEX/DeFi Projects

0x stands out for its hybrid architecture and cross-DEX liquidity aggregation. Here’s how it stacks up against leading competitors:

When to use 0x:

• Aggregating best prices across DEXs
• Custom integrations and building DEX infrastructure

Alternatives fit if:

• You want direct swaps on Uniswap’s AMM
• You prefer the optimized routing of 1inch
• You want to participate in liquidity pools on Balancer

OKX supports all major DeFi tokens and enables users to swap, trade, or stake assets with industry-leading liquidity and security.

Frequently Asked Questions

What is ZRX used for?

ZRX is the native token of the 0x protocol, used for governance voting, staking with reward opportunities, and paying protocol or relayer fees. It empowers holders to shape future upgrades and support liquidity.

How does the 0x protocol work?

The 0x protocol combines off-chain order relayers (for speed and cost effectiveness) with on-chain settlement (for security and transparency). Users can trade tokens peer-to-peer using open standards, while ZRX aligns the interests of relayers, stakers, and token holders.

Where can I buy ZRX?

ZRX is available on top exchanges like OKX, Binance, and Coinbase. OKX is recommended for its low fees, compliance standards, and robust security—see our step-by-step guide above for details.

What is the current price of ZRX?

ZRX's price typically ranges from $0.30–$0.40, but it varies in real time. Visit OKX's live chart for the latest market movements and performance.

Is ZRX safe?

ZRX has undergone major security audits and benefits from a bug bounty program. Still, users face risks from smart contract bugs or insecure exchanges. Use secure wallets, enable 2FA, and choose platforms like OKX with strong security controls.

What alternatives are there to 0x?

Top 0x alternatives include Uniswap (AMM-based DEX), 1inch (DEX aggregator), and Balancer (pool-based DEX). Each has a unique model—see our comparison table for details on features and tokens.

Conclusion

0x (ZRX) represents one of the earliest and most robust protocols for decentralized trading. With its governance-driven model and innovative hybrid architecture, ZRX has become a staple of the DeFi ecosystem. Key facts: the 0x protocol powers DEXs, the ZRX token is used for governance, fees, and staking, and strong security/audit practices protect users.

Remember, always follow best security practices, stay up-to-date with rules, and consider your risk appetite before investing in ZRX. Ready to start your DeFi journey? Buy ZRX or explore secure custody with OKX Wallet today.

Trading and investment in cryptocurrencies like ZRX carry market, technical, and regulatory risks. Never invest more than you can afford to lose. Always use strong passwords, 2FA, and hardware wallets for long-term storage.