Matcha is a consumer-facing DEX built by 0x Protocol. It utilizes the 0x API and 0x Mesh, to leverage aggregated liquidity and price information from Kyber, Uniswap, Oasis, and other sources. By using smart order routing, Matcha automatically provides the end-user with the best possible price for their trade.
The primary goal of Matcha is to be a clean and simple interface where anyone can swap tokens on-chain. Chris Kalani, the GM of Matcha, said to consider it “Robinhood for Ethereum assets… without signing up or creating an account”. Matcha also has 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.
The 0x Protocol has been a leading liquidity aggregation project built on Ethereum since its inception. 0x kicked off with an ICO for their token ZRX in August 2017, where they raised $24 Million in less than 24 hours. The primary functionality of ZRX is to facilitate on-chain protocol governance, although ZRX holders can also earn ETH by delegating their tokens to the market making pools, earning a pro-rata distribution on the rewards.
For the most part 0x operated behind the scenes, allowing any projects to build products on top of the protocol. They have grown significantly since launch, with a growing number of DEXs and other DeFi products using the 0x backbone to power their applications. To read more about 0x protocol check out our full review.
Matcha was launched on June 30th following months of closed beta testing from the community which features a small window of free transactions.
Matcha was built with simplicity and ease of use in mind right from the start. The homepage features token shortcuts and a search field that allows users to navigate straight to their desired trading pair. Matcha aims to support hundreds of tokens with thousands of trading pairs in the future, and this feature will make it simple to jump into a market right away.
Matcha will have instantaneous access to data from 0x Mesh and other DeFi protocols including Kyber, Oasis, Curve, Uniswap, and other proprietary liquidity sources. Users benefit from automatic price comparisons while Matcha automatically splits trades across different liquidity protocols to ensure users get the best possible price at the time of purchase.
Matcha is also unique due to its focus on education. Most other exchanges simply list the available tokens and trading pairs without providing information on them. Matcha has invested in building asset pages that serve as a place for users to discover and learn about tokens, with plans to continuously evolve as projects and communities evolve.
A common complaint from users who are new to the DEX space is that they are intimidating and require too much technical knowledge to properly use. Time and time again people lose money due to price slippage or ‘fat fingering’ a trade, which can deter users from further trading. Matcha wants users to feel comfortable and in control from the start by explaining what’s going with simple language and making efforts to protect user funds. Matcha plans to continue investing in education, onboarding, and abstracting away the complexities of blockchain technology as the exchange grows.
For example, before executing a trade Matcha will show the user a detailed order review, estimated slippage and value lost, and a transaction time estimator to avoid any surprises due to network congestion.
Matcha’s trading interface is clean and easy to use for anyone regardless of technical skills. They provide constantly updated price information along with a chart that can be set to the past 24hr, 1 week, or 1 month. Users can also choose to place market orders or limit orders with a custom price and expiration date as shown below.
How to Get Involved?
To start trading on Matcha, head on over to matcha.xyz. Here you can use their token shortcuts to navigate to any trading pair of your choosing!
For a limited time, Matcha is offering users a Gas Discount so be sure to take advantage while gas lasts!