0x is a system of smart contracts that pool liquidity from various providers to facilitate increased trading of ERC-20 assets. ZRX is the native token for the protocol developed by 0x, which is creating an infrastructure that enables decentralized exchanges to be built on top of it. This combines the order flows from each decentralized exchange to achieve greater liquidity for every ERC-20 token. The pooled order books are managed by “relayers” on the network. The ZRX token can be utilized by active members of the 0x community to vote on Improvement Proposals that refine and enhance the protocol.
ZRX can also be staked in pools that enable the token holder to earn liquidity rewards that are paid out in ETH. The 0x team is also working on additional products that include, asset swapper (allows decentralized finance businesses to easily find liquidity and integrate it into their own smart contracts to fill orders at more favorable prices), 0x Instant (enables quick and cheap digital asset purchasing), and 0x Launch Kit (an infrastructure that enables third parties to build and launch an exchange or marketplace).
“Creating a tokenized world where all value can flow freely. 0x is important infrastructure for the emerging crypto economy and enables markets to be created that couldn't have existed before. As more assets become tokenized, public blockchains provide the opportunity to establish a new financial stack that is more efficient, transparent, and equitable than any system in the past.”