This article was first published on 0x Protocol - Medium
Today DDEX announced that they will be moving to Hydro protocol. We are disappointed to see them leave the 0x ecosystem. It can be challenging for crypto businesses to find an edge in the highly competitive DEX space and current crypto climate. The DDEX team have communicated that rolling their own contracts is yet another step in the never ending quest to establish an edge. While we understand their decision, we believe that modularity and standardization will lead to greater innovation over time.
0x protocol is designed to support a variety of relayer models including p2p trading, open orderbook, order matching, and beyond. Every model comes with tradeoffs around decentralization, security, and user experience. We acknowledge that there can be tension around how these tradeoffs are measured by different teams. We invite developers to use the protocol in new, creative ways and provide feedback on how we can better accommodate new use cases. Our monthly developer call, research forum, and Discord server are public and we welcome open dialogue regarding the 0x roadmap.
The DDEX team has communicated that Hydro protocol is intended to support pooling of liquidity between different matching relayers in a manner that is similar to R1 protocol. One of the benefits of the modular architecture offered by 0x v2.0 is that it makes it simple for developers to support this use case, among many others, with just a few lines of code. This capability is particularly exciting as it allows us to rapidly experiment with new extensions to 0x, including trade execution coordinators (TECs), which allow us to eliminate some of the tradeoffs associated with existing relayer models. TECs give guarantees around trade execution similar to order matchers, yet provide the flexibility of an open orderbook, which is needed for DeFi applications. ...
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0x Protocol - Medium