What an incredible journey it’s been for 0x over the past year! A little over a year ago we shared an exploration of the 0x ecosystem, highlighting the incredible growth of 0x and dozens of new integrations - from wallets and exchanges to portfolio trackers and exciting new DeFi products.

0x has come a long way since then…

Between 2017 and 2020, there was an impressive, if now modest, $8B in total volume traded on 0x. In 2022, a rapid influx of new integrations tackling a diverse set of use cases resulted in total volume traded on 0x reaching over $182B. In the past year alone, 0x rolled out support for NFT swaps, introduced Slippage Protection and Price Impact Protection for 0x Swap API, and launched 0x Explorer.

Let’s take a look back at the past year.

Highlights

We kicked off the year by introducing multi-chain NFT swaps on 0x Protocol v4, providing developers with a trusted, open standard to build the next generation of fully decentralized and interoperable Web3 NFT apps and marketplaces. NFT support on 0x Protocol v4 will ultimately help reduce market fragmentation and drive greater transparency and interoperability in the space. A growing number of NFT projects are now powered by 0x, including Coinbase NFT, Gamestop NFT, Trader, Genie, and Proof of Beauty.

And while crypto winter set in, the 0x Labs team was still heads down building. To help equip developers with the tools they need to offer the best DEX trading experience for their users, we rolled out two new features for Swap API. Over the summer, we launched Slippage Protection, a feature in Swap API that enables MEV-aware smart order routing for DEX trades. Slippage Protection protects users from sandwich attacks and MEV bots, enabling developers to surface more reliable quotes and consistently deliver the best executed price to their users.

We also launched Price Impact Protection to make it easier to protect users from getting rekt by illiquid markets. Despite Swap API enabling access to the deepest liquidity from over 70+ exchanges, there are still some long-tailed token pairs that suffer from suboptimal liquidity on decentralized exchanges. Users leveraging the Swap API will be notified when their trade faces a price impact over a certain threshold.

What about multi-chain? 0x continued its multi-chain expansion with support for Optimism and Arbitrum, bringing Swap API support to 8 chains in total - Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Celo, Optimism, and Arbitrum.

And to close out the year, San Francisco Blockchain Week (SFBW) returned to the Golden City for a week-long, decentralized conference focused on helping the industry reach mainstream adoption. 0x was proud to be an SFBW co-organizer and have 0xpo: Crossroads as one of the week’s official events. 0xpo: Crossroads brought together 1,000+ attendees and 20+ speakers for a full day of networking and sharing of future-focused ideas.

Andrew Yang presented the keynote, Brian Krogsgard, co-founder of Flip.xyz and host of UpOnly, MC’d the day, Decrypt’s Jason Nelson was on-hand for interviews with industry leaders, MakersPlace exhibited Not Fungible’s “CHRONICLES” collection, and speakers presented on a range of topics, from tokenization by the numbers to raising in a bear market. You can watch all of the talks here.

By the Numbers

In 2022, 0x Protocol saw volume of $52B+ across 18M+ trades. To date, 0x has enabled over $182 billion in tokenized value to flow across 53M+ trades, with over 5.6M+ users across the 0x Ecosystem.

Speaking of data, back when the 0x Ecosystem was still in its infancy, a 0x community member created 0x Tracker to help users explore trade activity on 0x Protocol. The 0x Labs team recognized the importance of a tool that makes building and transacting on 0x more accessible and transparent, and in October we announced the beta launch of 0x Explorer as the next iteration of 0x Tracker.

0x Explorer is the most reliable and transparent tool to help developers and users verify transactions and analyze on-chain activity in an easy and low-friction way. We’ll be continuing to roll out new features on 0x Explorer. If you have any feedback or feature requests, join us on Discord in #0x-explorer.

The 0x Ecosystem

The 0x Ecosystem continues to expand at a rapid pace! Over 25 new integrators (that we know of) joined the 0x Ecosystem in 2022, from new NFT marketplaces and apps to exchanges and wallets.

With integrations across all of the top Web3 apps, including GameStop Wallet, MetaMask, Coinbase Wallet and Coinbase NFT, Polygon Wallet, Brave, Matcha, dYdX, and many more, 0x has become the most trusted standard for decentralized exchange.

Governance

On the governance front, several noteworthy milestones were either influenced by, directly set in motion by, or the result of community stewardship in 2022. In February, ZRX tokenholders overwhelmingly approved ZEIP-93, which added NFT order support to 0x v4. In April, to generate momentum from the protocol upgrade, we developed a grant initiative focused on NFT projects on Polygon. And over the summer, we applied for a Phase 0 Governance Fund allocation of 300k $OP from the Optimism Collective. The $OP tokens are now available for a new grant campaign to support builders on Optimism.

Building on the experimentation, achievements, and learnings from 0xEVE, the new 0x Grants program will serve a sustaining ecosystem partner. To date, $1.3M in grants have been awarded to 16 grantees.

As adoption continues to grow - in DeFi, NFTs, gaming, and more - the 0x ecosystem will continue to work toward the vision of a world in which all forms of value are tokenized as it helps onboard the next wave of users and businesses to Web3.

Powered by 0x

Back at the beginning of the year we launched Powered by 0x, a developer-focused livestream where we explore features in the 0x tech ecosystem and interview developers building innovative projects on 0x.

Over the course of Season 1, we featured a wide range of builders and projects, including DEXKIT, Trader, Proof of Beauty, Minke, DeFi Saver, Zerion, CowSwap, Phuture Finance, DODO, dYdX, and, to close out the year, winners from ETHSF.

Season 2 will be kicking off soon so make sure to subscribe to our YouTube channel so you don’t miss out!

Wrapping Up

Thanks for tuning in. We can’t wait to see what 2023 brings! Don’t forget to join our official Discord server, where you can chat with the 0x community and learn more about all of the exciting things happening in the ecosystem.