Ox (ZRX) powers the decentralized exchange of tokens on Ethereum. OX being an open protocol, enables the peer-to-peer exchange of assets on the Ethereum Blockchain.
Whether gaming items or financial instruments, it is possible for anyone from across the world to make use of Ox to service a wide variety of markets. It gets used to service assets that could have never existed before.
The numbers of projects developed on Ox are ever-growing. For anyone ready to build on Ox, it is straightforward to get started, and the Ox team is ready to help.
The Ox (ZRX) protocol recently launched a new API to provide for cost-efficient token swaps. The Ox Protocol is bringing tremendous transformation to DeFi. The DEXs are very secure than centralized exchanges. They provide token holders with complete control over the private keys, and therefore liquidity remains a bottleneck for DEX users. To reduce the liquidity problem, and to help DeFi developers to benefit from off-chain and on-chain liquidity, Ox has rolled out the Ox API.
With the new Ox API, users will be able to quickly carry out token swaps using the price available in the DEX ecosystem by making use of a simple “GET call.”
The Ox API has already gained traction with a decent number of DeFi projects as several DeFi projects have integrated them into their processes.
Sydney Ifergan, the Crypto Expert, tweeted: “All Dex Liquidity accessible in one place with support for all tokens with Ethereum Standards is a nice thing about Ox. Every crypto is competing to have an efficient technology, whoever facilitates wins. “
Ox facilitates many things like building a decentralized exchange for X asset on the Y market, an e-bay type of marketplace for digital goods, arbitrage trading bot, market making, Defi protocol, which requires liquidity and exchange to function, and an over the counter trading desk.
Ox can also be integrated into games with in-game currencies or items, digital wallets that users will want to exchange tokens, and portfolio management platforms.
The Chainlink – Official Channel tweeted about how they were excited to collaborate with the Ox project with their tweet, which read: “We’re excited to collaborate with @0xProject to bring this new DEX functionality to users and looking forward to the novel designs this opens up for teams building at @EthereumDenver.”
DeFi projects & developers will be able to connect to the API in minutes to source the aggregated DEX liquidity and programmatically swap tokens for the best prices.
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