Internet infrastructure exchange

Cryptographic technologies essentially enable a future in which anyone with an Internet connection can create and share values ​​freely and without trust. We at Greylock believe deeply in the promise of that future.

The wave of innovation and investment that has been the “summer of DeFi,” the popularization of NFTs, and the continued influx of users and capital all speak to the expanding echo of the crypto value pillar. Over the past few years, there has been a proliferation of blockchain, thousands of new tokens, and constant innovation in DEXs, wallets, and other decentralized applications.

But as the “decentralized economy” has grown to several trillion dollars in size, this decentralized innovation has also caused liquidity to be dispersed, making value exchange less efficient and more complex.

0x is an antidote to this challenge. The Open 0x Protocol leverages the exchange of token value for a huge and growing ecosystem of leading applications, opening easy access to multi-chain liquidity and improving markets for everyone. 0x API aggregates liquidity and extracts the complexity of routing orders across exchanges and market makers while optimizing price, gas fees, slippage and back so that developers and users don’t have to.

To date, 0x has enabled more than $158 billion in token value to flow through over 43 million transactions. 0x has integrations across all top wallets and apps: including MetaMask, Coinbase Wallet, Coinbase NFT, Polygon Wallet, Brave, Matcha, dYdX, Zapper, Zerion, and Shapeshift. 0x is the trusted and untrusted standard for decentralized exchange. This is a very powerful public benefit.

That’s why we’re leading a $70M Series B Series at 0x Labs, the architect of Web3’s core exchange infrastructure, and Sarah will join the board. Developers and companies can use 0x to seamlessly integrate exchange functionality into their apps and create new markets for all token assets, including cryptocurrencies, DeFi tokens, and NFTs.

We have been impressed by the rapid growth and market-leading positions of 0x API and Matcha, products created by 0x Labs on top of the 0x Enterprise and Consumer Protocol. We are particularly bullish about their expansion into NFTs and multi-chain over the past year. We are excited by enabling them to expand from “traditional finance” companies to crypto, who we believe are key partners in accommodating the 100 million users of Web3.

At Greylock, we especially love supporting the companies that arm the builders: developers and entrepreneurs. 0x Labs is one such company. While some may think that decentralization of the exchange is not possible and that users will be drawn to a small handful of the already leading exchanges and wallets, we take an opposite view. We believe we are in the very early stages of rebuilding our financial infrastructure on new bars, where the minimum future trading volume includes all existing traditional financial assets, and the expected end state includes the proprietary economy via social networks, games and more. Real world origins, and more.

In 2021, more than $1 trillion was exchanged on decentralized exchanges and $14 trillion on centralized exchanges. We at Greylock anticipate that this gap will narrow, as the activity moves from short-term speculation to owning and using their assets through dishonest wallets and transacting through more exchanges and decentralized apps. Liquidity (by 0x!) and improving product experiences in a decentralized economy are prerequisites for this future. Decentralization does not come for free – but it is worthwhile and depends on the quality of the standards and fundamentals that we build as a society.

Most importantly, we are excited to support 0x Labs founders Will Warren and Amir Pandeli, and the entire talented 0x Labs team. Team 0x has been around since the early days of Ethereum and plays an important role in the broader Web3 ecosystem. Will and Amir summarize positive long-term thinking – this philosophy is represented by 0x – where you succeed as the entire ecosystem grows and better serve users.

We are grateful to be part of the 0x community and we hope that you will join us. If you are a developer, check out 0x API. If you are an investor or a trader, check this out matcha. And if you want to join the mission, 0x Labs is employment.