0x Labs raises $15M to expand its decentralized exchange protocol

0x, a liquidity aggregator for crypto-asset exchange and DeFi applications, today announced that 0x Labs has raised $15M in Series A financing led by Pantera Capital with participation from Jump Capital, Nima Capital, Blockchain.com Ventures, Nascent Ventures, Coinbase Ventures, IOSG Ventures, DeFi Alliance, and a host of operators, market makers, and builders across DeFi.

“The past 12 months have been pivotal for our team. After spending three years developing 0x Protocol to serve as a decentralized exchange infrastructure layer and the foundation for open and globally accessible markets, our organization expanded our focus in 2020 to include building vertically on top of 0x Protocol to drive growth and adoption.”
– The 0x Labs Team

These developments have already delivered compelling results. 0x Protocol has now enabled over $15B in trading volume across more than 250,000 unique traders worldwide while powering the backend exchange infrastructure for dozens of top DeFi applications.

Additionally, with the token economics introduced in v3 of the 0x Protocol, the network has generated over $1M in fees paid to ZRX holders and market makers, underscoring the value that the network can create while aligning long term incentives for token holders and network participants alike.