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Hydro Foundation announced the decision to use the protocol 0x (ZRX). In a statement signed by CEO Tian Li, who is also CEO of Ethereum DEX's DDEX platform, the company revealed that although 0x has contributed significantly to the growth of DDEX in one of the largest decentralized exchange platforms (DEX) on Ethereum, the strategic objective of the project has been bogged down by a series of far-reaching efforts, while the basic processes underlying the DEX are still plagued by rudimentary issues such as low liquidity and order collision.
An excerpt from the statement reveals that the Hydro fork will not present an equivalent to the token 0x, which was recently quoted on the Coinbase cryptographic exchange giant.
"Even if we are using the term & # 39; fork & # 39; to give the right credit, we have rewritten a large portion of the base code.We plan to send a new order scheme, an engine that can truly match Robust market orders and a fundamentally different liquidity sharing model: The ZRX token will also be removed, because paid tokens create unnecessary friction. "
Focus on liquidity
Created with an emphasis on liquidity, the new fork 0x will be called "Hydro". According to Li, as soon as the security frameworks and audits are completed, DDEX will change from the 0x protocol to Hydro. The merit of the project will be determined by the delivery of the protocol. If it fails, he said, DDEX will be "outclassed and quickly irrelevant", in line with the company's rigorous ethics of providing the utility that the market wants.
The Hydro protocol is not completely strange for DDEX. It was originally designed as a network-level protocol for decentralized high-performance exchanges and markets, with integrated incentives for coordination. Originally implemented as a subtle level of liquidity incentive on top of 0x, the protocol with the appropriate name will place the front and center of liquidity of its vision on how a DEX protocol should work, in addition to significantly expand the scope of the project 0x.
At the time of filing this report, there was no official response to the news of the next fork from project 0x, which for its part recently announced the ecosystem acceleration program 0x. The program is designed to accelerate the growth of the ecosystem 0x by expanding the number and diversity of projects created on protocol 0x.
According to project information 0x, this will be achieved by providing access to finance, technical support and business skills to budding teams. Support for their development will be to help the early stage teams kick off their projects by investing in tools and programs to support all businesses based on the 0x protocol and promoting technological innovation through stock exchanges. selected research.
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