In the field of decentralized finance (DeFi), the smoothness of the transaction experience has always been the focus of developers and users. With the launch of the 0x Swap API, the trading experience of ZRX tokens has reached a new milestone. Today, we’ll take a deep dive into the emergence of gasless trading and its impact on the ZRX token and the entire DeFi ecosystem.
The rise of 0x Swap API
Since 2020, the 0x Swap API has helped more than 500 teams easily access more than 100 exchanges, spanning 9 chains, facilitating more than $139 billion in transaction volume and serving 7 million end users. The launch of this platform provides a more convenient channel for the use of ZRX tokens, allowing users to conduct transactions on multiple blockchains.
The birth of gasless transactions: In the DeFi space, the emergence of gasless transactions (Gasless Swaps) is undoubtedly a major improvement in user experience. Many users often face the problem of insufficient fuel when making transactions, which not only affects the smooth progress of transactions, but also affects the user's conversion rate. According to data from Coinbase Wallet, 69% of Ethereum transactions encounter "insufficient fuel" errors when users start transactions, which has become a major obstacle to user conversion.
The launch of the gas-less API solves the burden for users to maintain sufficient native token balances across multiple wallets. This means that users can more easily start trading without having to worry about gas fees when trading ZRX tokens.
Simplifying the DEX experience
As DeFi craze picks up again, a major question facing developers is how to attract the next wave of Web3 users. Simplifying the process of using cryptocurrencies and improving the experience of interacting with blockchain will be key. Fuelless trading was created precisely to reduce the complexity for users when making transactions.
In a gasless transaction, the gasless API pays for gas upfront and incorporates token authorization into the transaction. This fee is then paid out in the tokens the user trades, essentially eliminating the main cause of incomplete transactions.
Practical results: Utilizing a fuel-free API, Matcha successfully increased conversion rates and significantly simplified the DEX experience. Compared to competitors, the proportion of failed transactions has been reduced by 85%, the average number of blocks confirmed by transactions is 1 block earlier, and thousands of transactions are protected from MEV attacks. With the launch of fuel-free trading, Matcha's number of trades grew 7% quarter-to-quarter, while the number of daily active traders grew 20%.
Composability of fuel-free APIs
The Gasless API can also be combined with the Swap API to provide users with the best trade execution options. Coinbase Wallet utilizes a fuel-free API to supplement its existing trading experience. When a user's fuel is low, Coinbase Wallet automatically switches to a fuel-free experience, allowing users to complete transactions quickly.
This flexible transaction process design not only improves user experience, but also provides greater convenience for the circulation of ZRX tokens. Users no longer need to worry about fuel costs, which will help attract more users into the ZRX ecosystem.
Future Outlook for ZRX Token
As fuel-free trading becomes more popular, the future of the ZRX token will undoubtedly be brighter. This innovation not only improves the convenience of transactions, but also provides users with more transaction options. As the DeFi ecosystem grows, the ZRX token will become an indispensable element.
In the future, as more developers and platforms access the fuel-free API, the usage scenarios of ZRX tokens will continue to expand. Users will be able to easily trade ZRX tokens in different applications, which will further promote the circulation and value-added of ZRX tokens.
in conclusion
The launch of fuel-free trading marks an important breakthrough for ZRX tokens in the DeFi field. By simplifying the transaction process and improving user experience, ZRX tokens will be able to attract more users and occupy an important position in the future DeFi ecosystem. As this innovation continues to advance, the value and influence of the ZRX token will continue to grow.
In this rapidly changing market, ZRX token holders and potential users should pay close attention to the development of fuel-free trading and seize this opportunity to add new highlights to their investment portfolios. The future DeFi world will become even better due to fuel-free transactions.