0x Developers Launch Liquidity Aggregation Tool for Decentralized Exchanges

Crypto News

Crypto News

The developers of the Ethereum-based 0x Decentralized Exchanges Protocol introduced the new 0x API product – a tool for aggregating liquidity between several decentralized exchanges.

The 0x project, introduced in 2016, is designed for peer-to-peer asset swaps in the Ethereum network. To date, more than 30 sites have been built on its base, and the total trading volume exceeds $ 750 million.

Last year, the protocol was upgraded to version 3, in which intermediate contracts appeared, allowing aggregating the liquidity of exchanges both on the basis of the 0x protocol and on others. Now the developers have released a tool that will quickly and easily aggregate liquidity.

“There are a bunch of projects that use the liquidity of individual decentralized networks, but this pool of liquidity is not shared. Our goal is to provide the best price for any trading pair in the market. And this guarantees API 0x, we simply draw liquidity from networks with the best prices, ”said Matt Taylor, head of marketing.

As Taylor explained, API 0x splits an order between all decentralized exchanges and returns the best price for a trading pair. Only a few lines of code and developers will be able to connect the tool, reserve the required amount and complete the transaction at the best price.

“If we do not have enough liquidity for exchanges based on 0x, then we can provide them with liquidity for exchanges, for example, on the Kyber network,” Taylor emphasized.