1/ Matcha is now served and open to all! 🚀
Everyone around the world can now quickly and securely trade crypto at https://t.co/hZioVvcNso 🍵
— Matcha 🍵 (@matchaxyz) June 30, 2020
Despite serving as a crucial backbone for DEX liquidity for over 3 years, 0x Protocol has largely operated behind the scenes. Even with this, 0x has seen significant growth in recent months, best illustrated in our research report by Lucas.
Today, 0x is ready to take center stage release of Matcha – a sleek product offering smart ordering routing using leading DEX like Uniswap, Kyber and Oasis in tandem with 0X Mesh to offer the best liquidity on the market.
Matcha places a strong emphasis on design, showcasing token shortcuts, trade splits, and compelling asset pages to help users better learn about the tokens they’re purchasing.
Protecting End Users
Perhaps the most promising aspect of Matcha is the emphasis on protecting new traders. While DeFi power users are certainly well antiquated with the notion of slippage and transaction fees, these concepts can quickly become overwhelming for those who are using a DEX for the first time.
With Matcha, users are shown a suite of important metrics, including expected slippage and exactly what this will correlate to. Traders are also able to see how much a token has increased or decreased in value over different time frames, providing better context if they are buying in at a less than desirable price.
Matcha also comes with a transaction time estimator, better helping new users understand that transactions may take time to process during varying degrees of network congestion.
The Year of the DEX
As if we haven’t said it enough, DEXs are quickly catching up with their centralized counterparties. While there are still a number of hurdles to getting started, once you’ve tried out the DEX rabbithole there’s really no going back.
With products like Matcha starting to rival the UI of industry-leading exchanges like Coinbase and Binance, it’s only a matter of time before people realize that there are many more advantages to DeFi outside of decentralization and sovereignty.
To help kickstart traction, Matcha is currently offering a “Gas Discount” in an attempt to make transactions more compelling. However, given the current status of gas prices, upwards of $5 per trade is something which very much begs for L2 scaling to arrive to Ethereum as soon as possible.
Outside of transaction costs, we’ve seen DEXs become the primary market for new DeFi tokens, a strong signal that those serious about trading will be keen to get involved in the first wave of popular assets like COMP, BAL and KNC.
In the meantime, be sure to head over to Matcha and test out the sector’s hottest new product!
To stay up with Matcha, follow them on Twitter.
Cooper is the Editor of DeFi Rate. He is an ambassador of Set Protocol and an active contributor to MetaCartel where he seeks to find emerging consumer-facing applications that propel the Ethereum ecosystem. He often works with projects as the Director of Fitzner Blockchain Consulting where he coauthors the weekly publication Token Tuesdays.
Like my writing? Drop me some gwei @ coopahtroopa.eth 😉