0x is Laying the Foundation for the Token Economy

Polychain Capital, Pantera Capital, Blockchain Capital & others back 0x. We’re hiring.

We’re excited to announce that Polychain Capital, Pantera Capital, Blockchain Capital, Jen Advisors and Fintech Blockchain Group have backed the 0x team in our efforts to develop an open protocol for decentralized exchange on the Ethereum blockchain. Additionally, Augur, Aragon, Maker and Melonport are among the first to partner with us for integration.

Emerging Token Economy

Blockchains have been revolutionary by allowing anyone to own and transfer assets across an open financial network without the need for a trusted third party. Now that there are hundreds of blockchain-

based assets, worth approximately $750M, and more being created each month, the need to exchange these assets is compounding. We believe that by 2020, many thousands of assets will be tokenized and moved onto the Ethereum blockchain including traditional securities such as equities, bonds and derivatives, as well as fiat currencies and scarce digital goods such as video game items. As discussed in our whitepaper, 0x protocol will act as a critical piece of infrastructure for the token economy, allowing Ethereum smart contracts to programmatically and seamlessly exchange Ethereum-based assets. Our backers share our vision and believe in our team’s ability to execute on it.

Augur, Aragon, Maker, and Melonport are partnering with 0x. Why?

In the two years that have passed since the Ethereum blockchain’s genesis block, numerous decentralized applications (dApps) have created Ethereum smart contracts for peer-to-peer exchange. Rapid iteration and a lack of best practices have left the blockchain scattered with proprietary and application-specific implementations. As a result, end users are exposed to numerous smart contracts of varying quality and security, with unique configuration processes and learning curves, all of which implement the same functionality. This approach imposes unnecessary costs on the network by fragmenting end users according to the particular dApp each user happens to be using, destroying valuable network effects around liquidity. At 0x, we believe that smart contracts should act as modular, unopinionated building blocks that may be assembled and reconfigured.

Our partners are developing decentralized applications and protocols that inherently require liquid exchange to function. Integration with 0x protocol is a natural fit as 0x is open source, free to use and technically sound. More importantly, each project stands to see increased liquidity by building on top of a shared settlement layer and open technical standard.

0x is Hiring

For the past eight months, Amir Bandeali and I have been quietly building what we believe will be a fundamental piece of infrastructure for the emerging token economy. Since releasing our whitepaper in February, much has been going on behind the scenes. Beyond driving rapid progress on the technical aspects of our project, we have established a legal entity, secured seed capital and added the talented developer Fabio Berger to our team. But there is much work to be done and we are seeking passionate builders and thinkers to join us.