Market makers offer trades through order book & make money on bid-ask spreads paid by takers.

0x is a non-custodial exchange protocol built on Ethereum. 0x was founded by Amir Bandeali & Will Warren and launched in 2016.

ZRX tokenholders own and govern the protocol. They currently do not take any of the total trading fees paid by traders (revenue). 0x’s investors include Coinbase Ventures, Jump Capital, Pantera Capital, etc.

governance

github

twitter

discord

etherscan

website

Exchanges (DEX)

# 0x Fees Methodology

## 1. Overview

The 0x protocol fees metric tracks protocol-level fees collected by the 0x decentralized exchange protocol. This metric explicitly sets all fee values to 0, indicating that 0x does not charge protocol fees that are trackable through standard on-chain analysis methods, or fees are handled through alternative mechanisms not captured in this calculation. The metric maintains the same time series structure as trading volume data to ensure consistency across 0x protocol metrics.

## 2. Data sources

- **0x protocol transaction data**: Raw transaction data from 0x protocol trades scraped from external sources, including trade volume information and token pair details
- **Trading volume calculations**: Processed trading volume data containing daily aggregations by chain and product
- **Token metadata**: Token symbol information for maker and taker tokens in 0x trades
- **USD volume conversions**: Pre-calculated USD trading volumes from the underlying trading volume model

## 3. Step-by-step calculation

### Component A: Trading volume base data
- **Purpose**: Provides the foundational time series structure and product categorization for the fees metric
- **Logic**: Retrieves daily trading volume data that has already been aggregated by timestamp, chain, and product from the 0x trading volume model. This includes `timestamp`, `timestamp_grain`, original chain information, and `product_id` fields that will be used as the structural foundation for the fees metric
- **Key fields**: `timestamp` for daily boundaries, `timestamp_grain` set to 'day', `product_id` for product categorization, and chain identifiers

### Component B: Fee collection standardization  
- **Purpose**: Creates the fees metric structure while explicitly setting all fee values to zero
- **Logic**: Takes the trading volume structure and transforms it for fees reporting by setting `chain_id` to 'unknown' for all records, effectively standardizing chain reporting. Most importantly, sets the `fees` field to 0 for all records regardless of the underlying trading volume, indicating 0x protocol does not collect trackable protocol fees
- **Key fields**: `fees` explicitly set to 0, `chain_id` standardized to 'unknown', preserved timestamp and product identification fields

### Final aggregation
- **Combining components**: The fee collection data is processed through the finalization macro which validates data structure, ensures proper schema compliance, and fills any gaps in the time series
- **Currency conversion**: No currency conversion needed since all fees are set to 0
- **Time aggregation**: Daily time boundaries are preserved from the underlying trading volume data, with `timestamp_grain` set to 'day'
- **Final calculation**: All fee values are 0, creating a complete time series of zero fees that matches the structure of other 0x protocol metrics, with a hard cutoff date of March 21, 2025

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

0xZRX

Archived

Fees

Fees

Competitive landscape

Chain breakdown