This article was first published on 0x Labs Blog - Medium
The most powerful 0x protocol version ever released.
To say that 2020 has been a transformational year for the decentralized exchanges space would be an understatement.
While launching Matcha and onboarding more applications onto 0x API, 0x Labs has started experimenting with a novel smart contracts architecture for its public smart contracts. This has proven to be a very effective design change, which contributed to making 0x API the best option for teams looking to source liquidity at the best price across DEXs.
The team has continued to iterate on this experimental design to the extent that it has now all the necessary features to be considered the canonical 0x v4 protocol. In order to officially launch 0x v4, a community governance vote is scheduled to register the new contracts.
On Saturday, January 16th at 8 pm UTC (12 pm Pacific Time), ZRX token holders will be able to go to 0x.org/zrx/vote and cast their vote. The vote will end the next Saturday, January 23rd.
0x v4 brings net improvements across three areas:
- It’s DeFi native. Liquidity aggregation is in 0x’s DNA. Thanks to its peer-to-peer protocol design, 0x can represent a superset of liquidity sources, which combined together produce the best price for end-users. In addition to that, this version of the protocol introduces the concept of Transformers, which are customizable modules able to execute atomic operations on the traded assets (such as token wrapping/unwrapping, or deposit/withdraw from LP positions).
- It’s the most gas-efficient DEX protocol. Every DEX user knows that Ethereum fees cannot be ignored. That’s why 0x Labs focused on optimizing the gas consumption of the smart contracts, achieving a net improvement without sacrificing its features. Compared to v3, 0x V4 improves RFQ gas costs by almost 70% (our simulations clocked 105k gas VS ...
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0x Labs Blog - Medium