The developers of 0x, a provider of infrastructure for decentralized exchanges (DEX), introduced their first product - a platform called Matcha, which collects liquidity from different DEXs.
When a trader places an order on Matcha, he passes it to several trading platforms (0x Mesh, Uniswap, Curve, Oasis, and other “proprietary sources of liquidity”) to find the best price.
Matcha's competitors are DEX aggregators such as 1inch and Paraswap. According to Matt Taylor, Marketing Director at 0x, Matcha's order distribution system works better than what is already on the market. “We consider ourselves the first professional team to significantly improve the algorithms for distributing orders between different exchanges,” Taylor said.
The new service will focus on user experience. According to Brent Oshiro of 0x, other DEX aggregators have a similar user interface, which newcomers to crypto trading and other cryptocurrency users are likely to find “unintuitive and intimidating.”
Taylor compared the project to Robinhood, a popular stock trading app in the US: “They did a great job developing a user-friendly app that brought new people to the stock market. We believe Matcha can do the same for the DEX market. ”
At the moment, 0x will not charge a fee for using the service. According to Taylor, a system of bidding fees may appear in the future.