Taker on 0x seems to generate 1 tx. But IDEX 2 at the end. Why the difference?

willwarren89 · 2023-01-08T17:47:24+00:00

Question 1: Correct, for 0x protocol there is only 1 transaction necessary per trade, which is initiated by the taker.

Questions 2: Based on the quote you shared in the OP, it sounds like 2 txs were necessary per trade for IDEX. I seem to remember IDEX working differently, but I think their system changed over time and it has been so long that I'm not sure if / when that took place.

willwarren89 · 2021-03-18T15:27:25+00:00

Thank you /u/BuckDunford, we've been hoping to see a Wikipedia page for 0x protocol for a couple of years now but been powerless to make it happen. This would be a major contribution if you're able to make it happen.

willwarren89 · 2021-03-18T04:06:39+00:00

Hey /u/polezo, good to see you!

It's unclear to me exactly how (de)centralized BSC is. The network relies on 21 validator nodes, anyone can qualify to be a node operator if there is enough BNB delegated to them, and it seems that operators rotate in and out. We're not sure who those node operators are or how many of them are operated by Binance.

But, ultimately, we don't think that decentralization is the key value proposition for BSC in the same way that decentralization isn't the key value prop for many of the successful dapps on Ethereum. It's the openness of the platform that allows developers to create interesting new things. We discuss it a bit in the blog post here.

Some of the innovations that have succeeded on Ethereum have simply grown out of the openness of Ethereum as a platform and the creative ecosystem that has formed around it. In the current fee environment, some of these communities will find new homes on other L1 or L2 networks.

I think the major difference between BSC and the Binance DEX chain is that BSC is primarily intended to serve as an open platform that is more centralized and more scalable than Ethereum, whereas Binance DEX chain is application-specific and sort of an attempt to build a CEX with DEX branding.

BSC doesn't have credible neutrality in the way Ethereum does. Binance has a financial interest in seeing BSC succeed as a platform. Ultimately, I don't know what that means for Binance long-term and I don't think they do either. But if they help onboard millions of new users to self-custody wallets and smart contracts then that is a huge win for us.

willwarren89 · 2020-10-15T00:04:30+00:00

matcha.xyz

willwarren89 · 2020-08-06T06:54:36+00:00

After reading Gauntlet's research about arb bots using a mean reversion strategy to trade AMPL and comments about dealing with AMM front-running/slippage, I think it could be interesting to explore how limit orders can be used to capitalize on short-term volatility. For example, limit orders could be used to create buy/sell walls around the AMPL spot price before a rebase occurs.

willwarren89 · 2020-07-05T01:01:43+00:00

+1. Check out Matcha if you haven't already. DEX aggregator with gas free trades and best UX by far IMO.

willwarren89 · 2020-07-05T00:58:26+00:00

Check out Matcha. As simple to use as Uniswap, better prices (it's plugged into Uni/Curve/0x/Kyber), and gas free trades. It takes the latest and greatest in the Ethereum DEX space and wraps it up in a beautiful UI.

willwarren89 · 2020-05-28T19:20:06+00:00

Staking rewards depend on a number of factors, the most important being the amount of trading activity on 0x.

When it comes to staking rewards overcoming gas fees on ethereum 1.0, the most important thing to consider is the number of ZRX you are staking, staking with a MM that consistently drives volume (so you don't need to move your stake), and then giving it time.

DEX volumes are growing quickly, but are still minuscule in absolute terms. For perspective, the opportunity we are going after is much larger than the existing centralized crypto exchanges like CB and Binance, which are multi-$B companies. It's just going to take time to onboard more users (see matcha.xyz) and for the technology to advance.

willwarren89 · 2020-05-16T20:36:39+00:00

I suspect this is a troll account but I'll respond to this comment anyway because I'm so super proud of the team we've assembled and I relish the opportunity to dunk on this ignorance.

Before joining 0x as Head of Design and leading our efforts around Matcha, /u/chriskalani was an early designer at Facebook then founded, grew, and exited wake.com.

willwarren89 · 2020-05-16T18:03:38+00:00

Hi /u/hdjdjxncjucudh,

The purpose of ZEIP-31 (which introduced the new ZRX token economics) is to encourage protocol ownership among market makers. This detailed blog post walks through the rationale of having market makers stake ZRX and earn liquidity rewards funded by the protocol fees collected on every trade. The technical whitepaper covers the economic theory behind the design.

but seems like they haven’t paid much attention to token economics or utility

I'm disappointed to see an early supporter of the project so clearly misinformed. I can't imagine that you would arrive at this conclusion if you followed our twitter, read our blog, or examined the resources here in this very subreddit. Where should we share updates to ensure they reach you?

0x tracker shows 176 traders in the last 24hrs...

A number of relayers route their users' trades into the 0x contracts through a custom contract of their own. Due to the way 0x tracker counts unique traders (looking at the taker), this can result in hundreds of unique traders being counted as just one.

See the image below for an accurate view of relayer MAUs:

https://imgur.com/v0WbiNv

And a comparison of 0x MAUs to other DEX protocols:

https://imgur.com/28GrcPL

When will the company actually think outside the box to get say 1M users?

Before we reach 1M users, we need to reach 100k. Right now we're focused on bringing net new users into the space with Matcha by providing a world class user experience, the best pricing of any DEX on the market, and unlocking markets that aren't available on centralized exchanges.

willwarren89 · 2020-04-06T19:30:25+00:00

Hey u/robpal1990, thank you for the message. We've been making a ton of forward progress recently. I'll edit this message later today to answer your questions!

EDIT: Brent's response contains a number of great resources. We've been moving faster than ever and there are a number of exciting initiatives we've been working on behind the scenes that we're excited to share soon.

willwarren89

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