Ever heard of 0x ($ZRX)? You might have back in 2018-ish. It was one of the first alt-coins ever listed on $COIN. 🪙
While 0x hasn’t been silent, its progress and development have been shadowed by all the other FOMO and FUD that permeates the crypto space – until today.
0x announced via their official blog they’re launching a Tx Relay API on $MATIC and $ETH – with Robinhood as their first partner.
So what the heck does a Tx Relay API do? It helps solve this problem as identified by 0x:
One major source of friction in Web3 is the need for a user to hold and maintain balances for each chain’s native token in order to pay for transactions. Before today, users had to overcome this hurdle by preloading wallets, moving balances across apps, and sending tokens between addresses to initiate transactions. This is a significant barrier to more widespread adoption.
If you’ve seen this image before – then you know the problem 0x is talking about. A freakishly annoying problem:
What the Tx Relay API will do:
- Allow users to trade with any token in their wallet without requests or approvals for network fees.
- Protect users with slippage protection.
- Access to liquidity from 0x’s market makers and 70+ exchanges, including Uniswap.
- Compatibility with Swap API and allows for devs to create a UX experience. 👍