0x (ZRX)

Ox (ZRX) is an open protocol which is created to offer a decentralized exchange as part of the Ethereum blockchain. Ox uses a protocol which involves Ethereum smart contracts that allows running a decentralized exchange. Ox project has its unique token known as ZRX. The supply is fixed to one billion, and the token is launched on August 15, 2017. 50% of the tokens are going to the developer fund, 10% going to the funding team and 10% is going to the advisors and early backers. The tokens allocated for the advisors, founders, and staff members will be released over four years while those who bought them during the launch were able to liquid them immediately. Ox is the 6th digital currency listed on Coinbase. ZRX is an Ethereum ERC-20 and it can be stored in Ethereum Wallet or Hardware Wallet. The tokens are used for the decentralized governance over Ox protocol’s update mechanism which allows the smart contracts to be improved with time. As Ox is built on top of the Ethereum, the smart protocol contracts have access to user funds and DApps which plugs into Ox smart contracts. So, decentralized governance is required to ensure that the update mechanism is secure and is least disruptive to the network as possible.
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