0x Protocol Token (ZRX) API and Price Oracle

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0x Protocol Token

ZRX
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0xE41d...F498
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is 0x Protocol Token (ZRX)?

The 0x Protocol Token (ZRX) is an Ethereum-based cryptocurrency that serves as the native token of the 0x Protocol. Created in 2017 by Will Warren and Amir Bandeali, 0x Protocol is a decentralized exchange (DEX) protocol that allows for the peer-to-peer trading of Ethereum-based tokens. ZRX is used to facilitate transactions and govern the protocol's decentralized governance model. The name "0x" originates from the mathematical concept of a zero followed by a lowercase "x," representing a placeholder for any nonzero value.

How does 0x Protocol Token work?

The 0x Protocol Token, also known as ZRX, operates on the Ethereum blockchain and serves as the native cryptocurrency of the 0x Protocol. This decentralized protocol facilitates the peer-to-peer exchange of digital assets on the Ethereum network.

At its core, the 0x Protocol is powered by smart contracts, which are self-executing agreements stored on the blockchain. These smart contracts enable trustless and permissionless exchanges by removing the need for intermediaries. By utilizing the Ethereum blockchain, the 0x Protocol Token benefits from its security, transparency, and immutability.

The functioning of the 0x Protocol Token can be divided into two main components: liquidity aggregation and governance. Firstly, liquidity aggregation allows users to access a wide range of liquidity sources, such as decentralized exchanges (DEXs), by consolidating order books and enabling trades across multiple platforms. This increases the overall liquidity and reduces slippage for traders.

Secondly, the 0x Protocol Token holders can participate in the governance of the protocol. They have the power to propose and vote on upgrades and changes to the protocol, including fee structures, protocol parameters, and network improvements. This democratic approach ensures that the community has a say in the development and evolution of the protocol.

Overall, the 0x Protocol Token leverages the Ethereum blockchain to provide a decentralized and efficient solution for peer-to-peer asset exchanges. Its underlying technology, smart contracts, promotes transparency, security, and enables seamless interactions between users without relying on intermediaries.

What are the benefits of 0x Protocol Token?

The 0x Protocol Token offers several benefits compared to its direct competitors in the blockchain space. One of its key advantages is its focus on decentralization and the ability to facilitate peer-to-peer trading directly on the Ethereum blockchain. This means that users can trade digital assets without having to rely on centralized exchanges, eliminating the need for intermediaries and reducing the risk of hacks or fraud.

Another benefit of the 0x Protocol Token is its low fees. Traditional centralized exchanges charge high fees for trading, which can eat into investors' profits. With 0x Protocol Token, users can trade directly with each other, resulting in lower transaction costs.

Furthermore, the 0x Protocol Token provides increased liquidity. By using a system of smart contracts, the protocol ensures that there is always a pool of liquidity available for trading. This improves the overall trading experience and reduces the chances of encountering slippage or delays in executing trades.

Compared to its direct competitors such as Kyber Network and Bancor, the 0x Protocol Token stands out due to its focus on interoperability. It allows for the seamless exchange of assets across different decentralized applications (dApps) and platforms, creating a more connected ecosystem for digital assets.

In conclusion, the 0x Protocol Token offers benefits such as decentralization, low fees, increased liquidity, and interoperability compared to its direct competitors. These features make it an attractive option for users looking for a more efficient and secure way to trade digital assets on the Ethereum blockchain.

What is 0x Protocol Token used for?

The 0x Protocol Token (ZRX) is used as the native token within the 0x protocol, which supports the decentralized exchange (DEX) of digital assets on the Ethereum blockchain. Its primary purpose is to facilitate governance and participation within the 0x network.

Firstly, ZRX tokens provide holders with voting power on the direction and development of the 0x protocol. This allows token holders to actively participate in proposing and voting on protocol upgrades, improvements, and changes. This decentralized governance aspect ensures that the community has a say in shaping the future of the protocol.

Secondly, ZRX tokens serve as the medium for paying transaction fees within the 0x ecosystem. Whenever users make trades on the decentralized exchange, they are required to pay a fee denominated in ZRX. These fees can be collected and distributed to relayers or market makers who facilitate the trades.

Additionally, ZRX tokens can also be used as collateral for decentralized lending or borrowing platforms, providing liquidity to the ecosystem. This allows token holders to earn interest or borrow against their ZRX holdings without the need for a centralized intermediary.

One specific use case of ZRX tokens is in decentralized governance. By holding ZRX tokens, users can propose and vote on changes to the protocol, such as upgrades or modifications to improve the efficiency or security of the decentralized exchange. This democratic approach allows community members to actively participate in decision-making and ensure the protocol evolves in line with the interests and needs of its users.

What is DIA's 0x Protocol Token API?

DIA's 0x Protocol Token API is an important offering provided by DIA that allows developers and users to access real-time price feeds of cryptocurrencies and NFTs. These price feeds are constructed by sourcing raw data from over 85 on-chain and off-chain exchanges, resulting in comprehensive and reliable information. DIA's API endpoints are designed to deliver data that goes beyond what other web3 data providers can offer.

In terms of accessibility, DIA provides both free API endpoints for developers to test and fully customizable custom feeds. The free API endpoints can be found on the asset's detail page in the DIA App and are available in a standardized format. These endpoints are intended for informational purposes and offer a simple way for developers to experiment.

However, the focus and value lie in DIA's custom feeds. Users can request a dedicated API price feed tailored to their specific needs, allowing for customization in terms of sources, methodologies, update mechanisms, and more. This personalized approach ensures that users can obtain the exact information they require.

The use cases for DIA's API are extensive and span across various sectors within the blockchain ecosystem. In DeFi, the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Similarly, in the NFTfi space, the API can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, fractionalization of NFTs, and beyond.

In summary, DIA's 0x Protocol Token API offers real-time price feeds for cryptocurrencies and NFTs, with both free and customizable options. The custom feeds provide enhanced flexibility and relevance, catering to users' specific requirements. With a wide range of potential use cases in DeFi and NFTfi, DIA's API plays a crucial role in enabling data-driven decision-making and enhancing blockchain-based applications.

What is DIA's 0x Protocol Token price oracle?

DIA's 0x Protocol Token price oracle is a smart contract that provides real-time price feeds of crypto assets. It is integrated with 35+ layer 1 and layer 2 networks, giving it the ability to deploy price oracles in multiple blockchains. DIA's price feeds are constructed using raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in highly accurate and reliable information.

While DIA provides free demo oracles for developers to test, these are only intended for testing purposes and cannot be integrated into production applications. However, DIA offers the option to build custom price feed oracles tailored to specific requirements. Developers can request a custom feed by reaching out to DIA via Discord or Telegram. These custom oracles can be customized in terms of sources, methodologies, update mechanisms, and more.

DIA's custom oracles hold great value for users as they offer flexibility and customization to meet specific needs. They can be utilized in various DeFi applications such as derivatives, options and futures markets, lending and borrowing platforms, collateralized stablecoins, synthetic asset issuance, and money markets. Additionally, these custom oracles have potential applications in the NFTfi space, including peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In the context of blockchain technology, an oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles like DIA's price oracle play a crucial role in enabling blockchain-based applications to access real-world data and interact with external systems.

Why use DIA's ZRX API & price oracle?

The utilization of DIA's ZRX API and ZRX Price Oracle offers a multitude of advantages for users within the blockchain ecosystem. Through the use of DIA's technology, users gain access to precise and dependable price data for cryptocurrencies and non-fungible tokens (NFTs). The key benefit of employing DIA's API or Price Oracle for the particular token in question lies in the high level of customization it affords.

Each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. This customization encompasses various configuration settings, such as selecting the data sources that form the price feed, applying data cleaning filters and pricing methodologies, and determining the update mechanisms and frequency. Such customization ensures the data and oracles remain robust and resilient, adapting effectively to market conditions. Additionally, it enables users to obtain both global market prices and specific individual or cross-chain market prices, thereby providing a tailored solution to every user.

Another significant advantage offered by DIA's API and Oracle feeds is the transparency they provide. The API and oracles supply full and granular transparency throughout the entire data journey. Furthermore, DIA offers comprehensive tracking and monitoring tools, allowing users to closely monitor the performance and reliability of the oracle and API feeds.

In summary, utilizing DIA's ZRX API and ZRX Price Oracle delivers accurate price data, high customization options, and transparent processes, making it an attractive choice for users in the blockchain space.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.