Happy new year and welcome to the January 2021 ecosystem update! 🥳 Each month we share highlights, network insights, trading trends, and news from across the 0x ecosystem.
January saw dramatic growth in trading activity across the 0x ecosystem with total volume for the month hitting $5.7B — more than a 97% increase over December. Over 282,000 trades were executed, representing around 22% month-on-month growth. Off the back of this activity, over $473,000 was generated for redistribution to market makers and ZRX stakers. At the time of writing over $58 million worth of ZRX is being staked.
Many of the top 0x integrators including 0x API, Matcha, 1inch, DeFi Saver, MetaMask and Zapper all saw big increases in their monthly volume with DeFi Saver consuming over 550% more liquidity in January than December. Recent integrators DODO and Metric had huge increases in activity, with 38x and 12x growth in volume respectively. New integrator ShapeShift quickly consumed over $2.7M of liquidity in their first month.
Looking at the user base across integrators, as shown in the chart above, we see Matcha, Zapper and Metamask making up ~76% of 0x users. All of these applications represent a large diversified set of users. Total daily active users stayed steady across the month, with an average count around ~3K.
With the launch of 0x v4 we’re beginning to see volume rapidly shift from v3 to v4. 0x Tracker is ingesting v4 trades from Uniswap Pools, Sushiswap Pools and 0x Liquidity Providers. We expect to see more volume transitioning to v4 when more market makers leverage the new RFQ system soon.
Visit the Network Insights page to further explore the explosive growth of 0x.
📈 Top 10 tokens traded through 0x protocol, with the biggest % gains during the month of January (excluding stablecoins)*
* CoinGecko pricing data; ranked tokens only
📉Top 10 tokens traded through 0x protocol, with the biggest % losses during the month of January (excluding stablecoins)*
* CoinGecko pricing data; ranked tokens only
💎 Top 5 tokens traded on 0x protocol during the month of January, by volume, not available on any major centralized exchanges*
* CoinGecko top 10 spot exchanges by normalized volume with a trust score of 8 or higher
Visit the Apps page to find a 0x-powered platform to trade on.
0x Labs | Organization focused on creating new markets in the 0x ecosystem.
0x Tracker | A platform for exploring trade activity, market data, and ecosystem news on the 0x protocol.
- Begins tracking a subset of 0x v4 trades. Full support coming soon!
Catnip | Simple, liquid, community-powered prediction markets.
- Receives a grant from Balancer Labs to build new prediction markets on Balancer smart pools
DeFi Saver | DeFi Saver is a one-stop management solution for DeFi protocols.
DexKit | A next-generation DEX tool kit.
- Releases DEXKIT Dashboard Demo
DODO | The on-chain liquidity provider for everyone.
- AMA Recap: DODO’s Diane Dai and Sushi’s 0xMaki
- Publishes an introduction to the DODO vending machine
- Publishes Introducing Crowdpooling: An Equal Opportunity Liquidity Offering
- Publishes Proactive Market Making Algorithm: A Universal Liquidity Framework
- Announces $100k v2 bug bounty
- Selected for cohort 3 at Defi Alliance Accelerator
Furucombo | Build your own DeFi legos without knowing how to code.
Mask Network | The Portal to the new, open Internet. Encrypt your posts & chats on social networks.
Matcha | A simple-to-use DEX aggregator built for everyone.
Metamask | A crypto wallet & gateway to blockchain apps. Trusted by over 1 million users worldwide.
- Publishes January update highlighting several UI and security improvements
- Summarizes recent changes to their web3 API
Metric | Gasless, community-owned DEX built by BUILD Finance.
- Highlighted in Builder Update #3
- Further integrates with 0xTracker to provide exchange trading activity KPIs
mStable | Autonomous and non-custodial stablecoin infrastructure.
OctoFi | An open-source platform for aggregating thousands of DeFi investment opportunities.
Opyn | The most powerful, capital efficient DeFi options protocol.
- Highlighted in the 0xLabs January community and governance call
- Featured in DeFi Dad video class on on-chain options
- DeFi Prime interview with Aparna Krishnan, co-founder and CTO
- Opyn v2 Gamma Protocol Launches Using Chainlink Oracles to Settle Options
Rari Capital | The first non-custodial fund that aims to produce lossless returns to investors through unique DeFi strategies.
Set Protocol | The asset management protocol
- Integrates 0xv4
- Upgrades to Setv2 Asset Management Suite
- Call for the best product thinkers in DeFi
- LedgerStatus (co-host of LedgerCast, sponsored by Matcha) launches the Tulip Fund
Shapeshift | The new frontier in crypto management
Tokenlon | A decentralized exchange powered by 0x protocol. Creator of imToken, an easy and secure digital wallet trusted by millions.
- Recap of AMA with Lucas Huang highlighting Tokenlon’s implementation of the 0x RFQ order design
- Announces a new phase of LON/SUSHI liquidity mining rewards
Zapper | A simple dashboard for managing all your DeFi assets from one simple interface.
- DeFi Dad class on mastering gas prices
- Farm dashboard to see which of your tokens can be staked to earn rewards
Zerion | An all-in-one interface that allows users to deposit, invest, trade, lend, and borrow DeFi assets.
Exciting opportunities to work for teams building on the 0x protocol:
- 0x Labs, Matcha, and Periscope Trading are hiring for software engineers (back-end, front-end, full-stack, and protocol) and product marketing roles. All positions are remote-eligible.
- Tokenlon/imToken is hiring for engineering, operations, public relations, marketing, product management, design, user support, and business development roles
- Radar is hiring: DevOps Engineer, Software Engineer
- Zapper is hiring: Full-stack Engineer, Product Designer, Financial Controller
- Zerion is hiring: Senior Frontend Engineer, Lead Python Engineer
- Opyn is hiring: Researcher, Frontend Engineer, Software Engineer, Head of Sales and Operations
- Set is hiring: Lead Engineer, Smart Contract Engineer
- Prysm is hiring for Frontend Developer, Full Stack Developer, Product Designer
- Shapeshift is hiring: Engineering Manager/Technical Lead
- Injective is hiring: Golang Engineer
And that it’s for January! If you enjoyed reading this, be sure to subscribe to the newsletter to receive the monthly update direct to your inbox.
If you’re building on 0x protocol and have a project/hiring update to share, email [email protected] to be included in next month’s edition.
Big thanks to our new contributors this month:
Brent Oshiro (0x Labs), Clay Robbins (0x Labs), Danning Sui (0x Labs), and Nikita (0x Community Ambassador).