ZRX Cryptocurrency Lending Rates

0.04%0.14%
0.04 ZRXReview
1.36%1.36%
1.37 ZRXReview
2.25%3.88%
2.28 ZRXReview
4.42%3.44%
4.52 ZRXReview
0.01%0.01%
0.01 ZRXReview

ZRX is the native token of the 0x Protocol.

0x is decentralized exchange infrastructure, built on the Ethereum network. It’s designed to facilitate the trade of Ethereum-based assets and tokens, via the use of smart contracts.

The protocol aims to address the speed and liquidity issues associated with other decentralized exchanges, primarily by taking orderbook activity off-chain (fast and cheap). On-chain activity (slow and expensive, but more secure) is only used for the settlement of trades.

Through 0x’s off-chain orderbook mechanism, the order books of all platforms built on 0x can be aggregated into the same liquidity pool. This improves the liquidity of all assets traded via the protocol.

0x was founded by engineer Will Warren, and former trader Amir Bandeali. The project was funded via an ICO is August 2017, raising USD$24 million from the sale of 50% of the token supply.

There have been some notable names on the 0x advisory board, including Joey Krug (Augur founder), multiple Coinbase employees, and even a former Paypal COO.

What is the ZRX Token Used For?

1.      Governance of the protocol

ZRX holders get to have a say in the development and evolution of the platform, via voting rights. These are given in proportion to the amount of ZRX which is held by a voter.

Rather than a centralized party controlling the direction of the protocol, it is the actual users and stakeholders who get to decide.

2.      Paying fees to “Relayers”

Since 0x is just a base-layer infrastructure on its own, platforms and user-interfaces built on 0x are necessary to make it easier for the average person to use.

Such platforms (or at least the ones which contribute to orderbook liquidity) are called Relayers. Relayers are able to charge fees in ZRX for the service they provide.

ZRX DeFi Lending Platforms

Compound Finance

Compound Finance is currently one of the leading DeFi lending platforms on Ethereum.

It caters to a wide range of Ethereum-based assets, and is one of the few lending platforms which offers more than Ether and stablecoin lending. Compound branches out to facilitate the lending and borrowing of some well-known ERC20 tokens.

One of these, of course, is ZRX. You can borrow and lend ZRX to anyone in the world with Compound, at the click of a button.

Interest rates are floating, and adjusted automatically according to supply and demand.

ZRX Relayers and Exchanges

Radar Relay

Radar Relay is a popular 0x dApp and relayer, which enables wallet-to-wallet trading.

Radar Relay users can simply link their Ethereum wallet and trade their favorite tokens peer-to-peer via the 0x protocol – all without leaving their tokens on an exchange.

The company behind Radar Relay was founded in 2017, with the beta version of the platform being released in August 2017.

Tokenlon

Tokenlon is a decentralized exchange built on the 0x protocol by imToken, a popular multi-chain wallet.

The best thing about Tokenlon is that it is accessible on mobile, through the imToken app.

Like Radar Relay and all other 0x relayers, the exchange benefits from the extra liquidity provided by 0x’s aggregated orderbooks.

Tokenlon hasn’t been around quite as long as Radar Relay, being launched in April 2018.

Best ZRX Exchanges

Binance

Binance is one of, if not the most-famous cryptocurrency exchange around today.

It has one of the largest selections of tradable coins and tokens, and huge daily trading volume of almost USD$600 million (December 2019).

Binance has recently launched a US-only exchange, which caters more closely to the needs and regulations associated with US customers.

Both the US and global versions of Binance offer ZRX trading pairs.

ZRX Trading Volume: ~$0.4M (December 2019)

Number of ZRX Trading Pairs: 4

Coinbase Pro

Coinbase Pro is a secondary exchange run by Coinbase, another one of the world’s most popular cryptocurrency exchanges.

Coinbase is extremely well-known for being trustworthy and compliant with regulations. It is also a popular option for first-time buyers of cryptocurrency, as it offers a very simple way for new customers to purchase crypto using their credit card.

Coinbase Pro is a more advanced exchange, which has a larger selection of assets. It also features a more complex user-interface, which includes more bells and whistles for confident traders.

While the original Coinbase platform focuses on a handful of the most well-established cryptocurrencies, Coinbase Pro branches out into other prominent coins and tokens, including ZRX.

ZRX Trading Volume: ~$0.4M (December 2019)

Number of ZRX Trading Pairs: 3

Huobi

Huobi is a Singapore-based cryptocurrency exchange, which was founded in 2013.

It is one of the largest-volume exchanges today, currently doing almost USD$500m in daily trading volume.

The company is publicly listed in Hong Kong and has offices in multiple countries, including Korea, Japan, Hong Kong, and the US.

ZRX Trading Volume: ~$0.03M (December 2019)

Number of ZRX Trading Pairs: 3

ZRX FAQ

Why should I borrow ZRX via a DeFi lending platform?

The most straightforward reason would be to take a leveraged position on ZRX.

You may, for example, believe the price of ZRX will increase. To bet on this happening, you can supply your current ZRX holdings as collateral, and borrow another asset against it, such as ETH. This ETH can then be used to purchase additional ZRX, which you can sell at a profit if the price rises.

Conversely, if you think the price of ZRX will fall, you can borrow ZRX against another asset and sell it on the open market. If it drops in price, you may repurchase it to repay the loan, and pocket the difference.
 

Is there any other reason to lend or borrow ZRX?

If you are interested in the 0x Protocol, you may choose to borrow ZRX tokens in order to take part in the governance of the platform.

This applies to when a vote is being held for upgrades or changes to the protocol. Since votes are weighted by ZRX holdings, you may want to borrow tokens to have a more significant vote.