According to Latest Data, 0x has Only Procured Around $3K in ZRX tx Fees Since its Inception

As many of our regular readers may be well aware of by now, 0x has carved a niche’ for itself within Ethereum decentralized finance ecosystem. However, despite all this, it is worth noting that the utility of 0Xs native token offering ‘ZRX’ remains largely muted at this point.

To be even more specific, we can see that upon its release, the 0x white paper outlined two core use-cases for the ZRX token, namely:

  • Governance
  • Transaction fees

    In this regard, it is worth noting that no formal governance protocol has yet been introduced within the 0x ecosystem. Also, even the total transaction fees charged in ZRX by relayers since the project’s inception has amounted to less than $3,300 (since August 2017).

Final Take

In closing, last month DDEX CEO, Tian Li, announced that his firm was all set to fork the 0x protocol — thus removing the need for 0X’s ZRX token altogether.

The reason given for this move was that fee-based tokens created unnecessary friction, thus it was easier to do away with them completely.

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