Decentralized Finance or DeFi protocol 0x (ZRX) has now upgraded to the latest gas-busting features on it. This in response to keep up with the rapidly evolving protocols followed on DeFi.
A news publication on beincrypto claimed that based on a new governance vote completed on January 23, this year, 2020, a majority voted for upgrading the protocol 0x (ZRX) to version 4. That is because it can bring about new top-notch improvements for users.
DeFi wants to reduce the gas costs for users, and what better way to implement the new features on protocol 0x (ZRX) to version 4. Decentralized Finance has confirmed that 0x version 4 (v4) is the accepted protocol.
sagnes jeremyBCH.games is an investor in the crypto market, tweeted this on the DeFi protocol 0x (ZRX) upgrades with the latest gas-busting features.
They have overwhelmingly replaced the version 3 (v3) and version 2 (v2). These two versions saw their functionality suspended for use on DeFi standard tokens. Close to 10 million of the native ZRX tokens took part in the vote that made the decision based on the majority.
DeFi made an announcement thanking the 2,362 unique ZRX holders who voted for the changes in the proposal with 11.6m ZRX tokens. The new development assures traders that they can save close to 70% transaction fees on request for quote (RFQ) liquidity.
Besides, they stand to save 10% on limit orders. DeFi added they do not cost much for trading using Uniswap and SushiSwap using 0x v4 on those platforms. A new smart order routing algorithm is on the cards letting traders provide liquidity into a pool having an arbitrary token.
Users can save massively on the gas costs as they are quite high at the moment hovering at around $7.30 on average and the median fee of $3.60. Has this new move made any impact on the ZRX token price?
The 0x native token has increased marginally to 12%, reaching $0.58 for now. The ZRX has made sublime progress in the past month by gaining 7% and a 30-day rise of 55%. The price peak occurred in August 2020 when ZRX was able to hit $0.73, but the number is quite far from the 3-year all-time high of $2.50.
It has also resulted in a rise in DEX beginning to rise based on one of the project’s manager’s reports.