Tian Li, CEO of the Hydro Foundation, recently uploaded a blog post outlining plans to fork the 0x protocol, and as a consequence, the ZRX token will be removed and made defunct. He stated:
“After much deliberation, we’ve decided to fork the 0x protocol. Although we are using the term ‘fork’ to give proper credit, we rewrote a large portion of the codebase. We plan to ship a new order schema, an engine capable of true matching, robust market orders, and a fundamentally different liquidity model. The ZRX token will be removed as well, because fee-based tokens create unnecessary friction.”
Li, who also serves as the CEO of DDEX, stated in the same blog that DDEX will likewise switch over to this new protocol, which is being dubbed as “Hydro.”
At the time of writing, the ZRX token is currently situated at number 32 in the CoinMarketCap crypto standings, with a market cap of $159 million. As Li announced, though, it will soon be removed from the market.
Whilst Li’s plans sound promising, what comes next is no more than speculation. But what we do know is that there is a direct and clear-cut focus on liquidity and removing fee-based tokens, and most importantly, they have re-wrote a large chunk of their codebase.
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