0x Protocol (ZRX)
Unlock Schedule
0x Protocol (ZRX) Token Unlock & Vesting Schedule
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Supply and original distribution
ZRX is an Ethereum ERC-20 token with a fixed total supply of one billion tokens. Half was allocated to participants in the 2017 token sale. The other half was allocated among the team, advisers, early supporters, and an ecosystem fund. This is the original distribution plan, rather than a description of who holds the tokens today. (assets-cms.kraken.com)
How ZRX has been used
ZRX holders historically used the token to take part in decisions about protocol changes. A later staking design let holders delegate ZRX to market-maker pools, which could receive a share of liquidity rewards. These features formed part of the protocol’s earlier incentive system. (github.com)
That history differs from the current governance position. Following the move to Settler, 0x describes protocol governance as dormant. Its support materials address how holders of previously staked ZRX can withdraw it. Meanwhile, today’s API quotes can show applicable swap, app, and cross-chain fees in their own fee fields. The original staking model should therefore be understood as a historical part of ZRX’s utility, rather than an assumed reward from using a current 0x-powered app. (help.0x.org)
Assumptions
One billion ZRX existed from the 2017 token launch; the public-sale allocation was distributed that August, while the founding team's four-year vesting included a one-year cliff. The founding-team amounts shown by month are estimates because individual grant dates and installments were not published. Operating, development, advisor and later DAO grant budgets include existing tokens whose final recipient-payment dates are not fully documented. The issuance chart reaches the reported total supply at genesis; treasury transfers and unlocks are separate views of those same tokens, not additional supply.
- Retained by 0x Org: The sources give the amount but no release dates.
- External Development Fund: Releases depend on future governance or treasury decisions.
- Early Backers & Advisors: The sources give the amount but no release dates.
- Initial 0x DAO treasury seed: The sources give the amount but no release dates.
- Initial 0x DAO treasury seed: Releases depend on future governance or treasury decisions.
- 0x Ecosystem Value Experiment initial budget: The sources give the amount but no release dates.
- 0x Ecosystem Value Experiment initial budget: Releases depend on future governance or treasury decisions.
- 2021 DAO funding earmarked for Polygon: The sources give the amount but no release dates.
- 2021 DAO funding earmarked for Polygon: Releases depend on future governance or treasury decisions.
- 0x Polygon Joint Grants Program: Releases depend on recipients claiming tokens or on grants being awarded.
- Polygon joint program: infrastructure grants: Releases depend on recipients claiming tokens or on grants being awarded.
- Polygon joint program: integration grants: Releases depend on recipients claiming tokens or on grants being awarded.
- Polygon joint program: education, hackathons and events: Releases depend on recipients claiming tokens or on grants being awarded.
- Polygon joint program: operational grants: Releases depend on future governance or treasury decisions.
- DAO treasury ZRX earmarked for Celo: Releases depend on future governance or treasury decisions.
- August 2023 additional DAO treasury funding: Releases depend on future governance or treasury decisions.
- 1. https://medium.com/@willwarren89/announcing-the-0x-token-zrx-launch-d4c097d893c7
- 2. https://etherscan.io/tx/0xd758b7221864c4c0b454a88b7739c96920a56f0452f89892abb5863b200875b7
- 3. https://ethplorer.io/address/0xe41d2489571d322189246dafa5ebde1f4699f498
- 4. https://assets-cms.kraken.com/files/51n36hrp/facade/f682a6059b1c9f52b2c0fbc533d4fd8f29584c3d.pdf
- 5. https://forum.0xprotocol.org/t/introducing-the-0x-dao/731
- 6. https://forum.0xprotocol.org/t/0xdao-community-treasury-proposal-1/883
- 7. https://forum.0xprotocol.org/t/z-2-0x-polygon-grant-budget-for-0xeve/969
- 8. https://forum.0xprotocol.org/t/0xdao-grant-program-framework-v1/962
- 9. https://forum.0xprotocol.org/t/0x-polygon-grant-structure/3676
- 10. https://forum.0xprotocol.org/t/0x-polygon-joint-grants-program/3731
- 11. https://forum.0xprotocol.org/t/0x-protocol-community-treasury-funding/3682
- 12. https://github.com/0xProject/0x-protocol-specification/blob/master/staking/staking-specification.md
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 151,603,437.093 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.
Description
#289
0x Protocol is an open-source, decentralized exchange infrastructure built on the Ethereum blockchain, designed to enable the peer-to-peer exchange of Ethereum-based assets. It provides developers with the tools to build their own custom exchange applications with a focus on performance, security, and flexibility.
| Sector: | DEX |
| Blockchain: | Ethereum |