We love celebrating the new year! It's a wonderful time to reflect on all the things we're grateful for, a time to celebrate with friends and family, and a time for giving back. Whether it's giving our users the 

, we've always been big on giving. This year, we're taking it to the next level by giving away up to 

Kicking off today, we’re running a Matcha referral contest that will award the top 3 referrers with the following prizes:

🏆 Referred users of the first place winner = 

Additionally, the first 320 users referred by the first place winner will win $100 in ETH each.

All you have to do to participate and win is:

1. Read the “Terms and Conditions” found at the bottom of this blog post.

2. Follow the instructions below to get your referral link. 

 ⚠️ - Referred users will only count towards your total if they use your referral link.

3. Share your referral link with friends who:

Have previously made a trade on Uniswap, 0x Protocol v2, Balancer, Bancor, Curve, dYdX, Kyber, or Mooniswap between 

4. Help your friends make their first trade on Matcha between 

All trading pairs with the exception of ETH/WETH will qualify as a valid trade.

5. Encourage your friends and followers to share your referral link so you can all win together!

I’m ready to win! How do I start referring?

 and authorize your Twitter account on Matcha. If successful, you should see your Twitter profile image and a unique referral link displayed.

3. Start sharing your referral link! Once someone you invited makes a trade on Matcha, you will see them reflected in your total referred user count. (

Note: Updates to referred user counts may be delayed slightly.)

4. Encourage your friends and followers to share your referral link and regularly visit the 

5. Good luck! If you have any questions about this referral contest, join us on 

ZeroEx, Inc. (together with all affiliates, “0x Labs”) is offering the chance to win prizes by referring friends to trade on Matcha. During this month-long referral contest (the “Matcha Referral Contest” or the “Contest”), both users that refer the most number of new users who trade on Matcha, as well as the new users themselves, may win prizes denominated in ETH. We reserve the right to terminate the Contest at any time for any reason.

These terms (“Terms”) apply to a user’s participation in the Contest. By participating in the Contest, users agree to follow the rules and terms outlined herein and consistent with any other terms we apply to the Contest. If you do not agree to these Terms in their entirety, then you cannot participate in the Contest or win any prizes. Users also cannot participate if doing so would violate any law or regulation applicable to them.




The Contest will run from January 4, 2021, 12:00am PT to February 12, 2021, 11:59pm PT (the “Contest Period”).




The Contest is void where such referral contests are prohibited.

Users who refer others to trade on Matcha are “Referrers”; those who are referred to Matcha are “Referred Users.”

Referrers must be individuals (sorry, no corporate entities), must be legally able to participate in the Contest, and must be at least the age of majority where they reside. When registering for the Contest, Referrers are required to identify their Twitter account. Each Referrer may only register a single Twitter account. 0x Labs reserves the right to determine if a Referrer is eligible under the Terms and may disqualify Referrers who attempt to register multiple Twitter accounts or otherwise attempt to evade the eligibility requirements.

Referrers that win the Contest must provide the information requested by 0x Labs, as summarized in the section titled “Requirements for Contest Winners,” as well as comply with all other provisions of these Terms in order to be eligible to receive a prize.

Companies and employees of 0x Labs, including subsidiaries and affiliates as well as immediate family and household members, are not eligible.



, connect an Ethereum wallet, and follow the on-screen instructions to authorize Matcha to access information from your Twitter account. You will be provided a link that you can share with your friends and colleagues as much as you want. You will receive one “New Trader” credit (“Credit”) for each Referred User who uses your personal link to navigate to Matcha, connects an Ethereum wallet, and makes trades on Matcha in accordance with the conditions in these Terms. The Referrers who have received the most Credits during the Contest Period will be awarded prizes denominated in ETH in the following amounts (the “Prizes”):

In the event of a tie, the average Prize amount will be awarded among those who tied for a single place:

First place tie - split first, second, and third place Prizes by the number of tied Referrers. Examples:

2-way tie - $16,000.00 / 2 = $8,000 in ETH per winner

3-way tie - $18,000.00 / 3 = $6,000 in ETH per winner

4-way tie - $18,000.00 / 4 = $4,500 in ETH per winner

Second place tie - split second and third place Prizes by the number of tied Referrers.

Third place tie - split third place Prize by the number of tied Referrers.

The average 24-hour USD price of ETH from 

 on the last day of the Contest Period will be used to calculate the final Prize amounts.




Upon completing the Twitter authentication and signing up for the Contest, you will be provided with a unique referral link ("Personal Link") that allows you to receive Credits. You must use your Personal Link to participate in the program but no purchase is required. Referrers are only permitted to create one Personal Link.

Referrers will only receive Credits for referrals that meet the following requirements:

1. The Referred User must connect an Ethereum wallet to Matcha directly from the Referrer’s Personal Link.

2. The wallet of the Referred User must have performed a trade between January 1, 2020, and January 3, 2021, through at least one of the following Ethereum-based exchange protocols: Uniswap, 0x Protocol v2, Balancer, Bancor, Curve, dYdX, Kyber, or Mooniswap.

3. The Referred User must successfully complete at least one trade on Matcha using the wallet they originally connected when navigating to the Personal Link. All trading pairs with the exception of ETH/WETH will qualify as a valid trade.

4. The Referred User must not have previously made a trade on Matcha using the connected wallet.

5. The Referred User must be eligible to trade on Matcha account and comply with all applicable 

Referrers must respect the spirit of the Program by not engaging in spamming or other unfair or otherwise problematic practices, including creating fake accounts or harassing potential referral sources.

Credits are subject to verification and 0x Labs may withhold a Credit if it reasonably believes additional verification is required. 0x Labs may also withhold or invalidate any potential Credit it deems fraudulent, suspect, or in violation of these Terms. It is the sole discretion of 0x Labs to withhold a Credit if it believes awarding the Credit or verifying and approving a transaction will impose liability on 0x Labs, its subsidiaries, affiliates, or any of their respective officers, directors, employees, representatives, and agents.

All 0x Labs’ decisions are final and binding, except where prohibited, including decisions as to whether a Credit is valid, when and if to terminate the Contest, and whether if at all, to change the Contest. 0x Labs will notify users of any changes to the Contest and the changes will become effective as of the date the published notice.

A 

 will be maintained on Matcha where Referrers will be able to check the official number of “New Trader” Credits they have received that meet the conditions above.




The three Contest winners will be notified via Twitter and asked to communicate with 0x Labs through the official 

 Twitter handle. Winners will be required to provide personal identifying information to 0x Labs and may be required to complete a 

 or other applicable forms in order to receive their Prize. Winners that refuse to provide the requested information will not be eligible to receive a Prize. Winners that fail to respond to Matcha on Twitter within 30 days of the winning announcement will forfeit their Prize.

0x Labs may also withhold awarding any Prizes that it deems were won as a result of activity that 0x Labs believes to be fraudulent, suspect, or in violation of these Terms. It is the sole discretion of 0x Labs to withhold a prize if it believes awarding the prize will impose liability on 0x Labs, its subsidiaries, affiliates, or any of their respective officers, directors, employees, representatives, and agents. All 0x Labs’ decisions on awarding a prize are final and binding, except where prohibited.




The Referred Users referred to Matcha by the Referrer that wins first place in the Contest will each be awarded $100 denominated in ETH. Only the first 320 Referred Users for the winning Referrer will be awarded these prizes. In order to receive this prize, the Referred User must meet all the required conditions for Credits set forth above and be one of the first 320 Referred Users referred by the Referrer that wins first place in the Contest that meets those conditions. These prizes will be distributed directly to the wallets used by the winning Referred Users without any additional notice.




To the extent permitted by applicable law, in consideration for being allowed to participate in the Contest, you hereby release and forever discharge ZeroEx from, and hereby waive and relinquish, each and every past, present, and future dispute, claim, controversy, demand, right, obligation, liability, action and cause of action of every kind and nature (including personal injuries, death, and property damage), that has arisen or arises directly or indirectly out of, or that relates directly or indirectly, to the Contest. YOU HEREBY WAIVE ANY APPLICABLE PROVISION IN LAW OR REGULATION IN CONNECTION WITH THE FOREGOING, INCLUDING THE PROVISIONS OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE, WHICH STATES: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, AND THAT, IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”




Please refer to our privacy policy, available at 

, for information about how we collect, use, share, and otherwise process information about you.




Users’ activity on Matcha during the Contest is subject to all applicable terms of 


The interpretation and enforcement of the Terms, and any dispute related to the Terms of the Contest, will be governed by and construed and enforced in accordance with the laws of California, as applicable, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. You agree to submit any dispute to the exclusive jurisdiction of the state and federal courts located in San Francisco County, California.


We’re giving away up to $50,000 in ETH to invite your friends to use Matcha!

Refer your friends to Matcha and win ETH!

We're thrilled to be partnering with RabbitHole, a new platform that rewards you for interacting with different Ethereum products! To celebrate this launch, in addition to the standard XP that you earn for completing various RabbitHole tasks, anyone who completes all of the Matcha specific tasks will earn a bonus reward in ZRX tokens (while supplies last).

RabbitHole is a platform that tracks your progress down the crypto rabbit hole. There are two objectives in RabbitHole: 1) complete quests and increase your XP, which entitles you to exclusive rewards in the future, and 2) complete tasks to earn tokens by completing campaigns.

Campaigns are application-specific and require the user to complete single or multiple tasks. If the user completes all the tasks before the rewards run out, they are eligible for the token reward.

RabbitHole is a web3-native application that sits on top of a querying layer and uses your Ethereum public key as your identity, watching your smart contract interactions across multiple Ethereum smart contracts. If you’ve completed a task on RabbitHole, you’ll be notified that you’re eligible to redeem the quest when you visit RabbitHole again.

Our initial campaign will run from December 7 - 14, 2020, with the following tasks:

Swap from any token to a stablecoin on Matcha

Swap from any token to a yield farming token on Matcha

The first 1,000 users who complete all three tasks will be awarded 250 XP + 15 bonus ZRX tokens.

Users who complete the campaign beyond the first 1,000 will still receive XP but not the bonus ZRX tokens.

Users will receive XP for each task completed but will only receive the bonus ZRX tokens upon completing the entire campaign (i.e., all three tasks).

Users must be fully verified with BrightID to receive the bonus ZRX tokens. This can be done at any point before submitting the completed campaign or after submission.

 and connect your non-custodial wallet of choice.

2. Verify your wallet with BrightID. BrightID is a social identity network that allows people to prove to applications that they're only using one account. You must first 

 it on your mobile device and then verify yourself on the app. Learn more about BrightID and how it works 

3. After installing the BrightID app on your mobile device, scan the QR code to verify your wallet.

IMPORTANT: You may need to make a few BrightID connections to become fully verified and receive the bonus ZRX tokens. You can confirm your verification status within the app itself. For information on how to make a connection, 

PRO TIP: The quickest way to get fully verified is to 

 and start your quest! Click on the task that you’d like to complete and continue your journey on Matcha.

5. After making the requisite trade, the task should now be redeemable. Click the 

6. When all of the remaining Matcha tasks have been completed, click the 

 button on the quest summary to finish the campaign and claim your bonus ZRX token reward. If successful, you should see a message that “Your reward is being queued!”

NOTE: ZRX rewards will be distributed periodically in batches, so don’t worry if you don’t see any tokens immediately transferred to your wallet.

We hope that you enjoy using RabbitHole and getting rewarded on Matcha! Please 

 to let us know about your experience and whether you’d like to see us do more campaigns like this in the future.

Earn ZRX by completing tasks on Matcha with RabbitHole

Earn ZRX by going down the RabbitHole with Matcha

Ampleforth is a new type of "rebase" cryptocurrency. The 

 token, while not a stablecoin, targets being in parity to the purchasing power of the 2019 US Dollar. To accomplish this, the total supply of the token changes daily. At the same time, however, the overall ownership percentage of each holder is kept the same.

The properties of a base money influence the behavior of the financial stack built on top of it. Ampleforth is designed to be a base money that combines two previously incompatible properties: elastic supply and rules-based governance. The Ampleforth Foundation is building pieces of the financial stack that take advantage of this unique combination of attributes, further expanding what decentralized finance can accomplish.

A base money is the most elemental unit of value in a financial stack. This means that its value does not derive from convertibility into another currency—unlike casino chips, for example, which you must cash in to use outside of a casino. For this reason, the intrinsic attributes of a base money affect the financial stack and financial functions built upon it.

Fixed-supply assets like gold have been used as base money in many world economies, including the US, prior to 1971. Because the supply of gold is finite, the gold price can skyrocket in times of sudden and high demand, creating a ripple effect through the credit money system it feeds. Contracts or notes settled in gold during a demand spike are affected, as suddenly the payback value is more costly.

 of July 1944 sought to fix this. It created an international currency exchange pegged to the USD, which was, in turn, pegged to the price of gold. It also created two new international institutions; the IMF and the World bank. The agreement's goal was to add more levers with which world leaders could affect international trade through money supply, like fractional reserve banking and international lending, while maintaining gold as the base money.

Participating countries agreed to peg their national currencies to the USD, and the US agreed to keep enough gold reserves to cover all USD in circulation. Concurrently, the IMF and World bank provided outlets to create currency supply flexibility, which participating countries believed would help mitigate spikes in demand caused by the system's reliance on gold, a fixed-supply base money.

Over the next several decades, the downsides of using a fixed-supply asset as the foundation for a complex financial system became increasingly evident. No amount of tweaking the financial stack built on that foundation could fix all of the systemic problems that arose. In 1971, due to the concern that the US gold supply was inadequate to cover dollars in circulation, the US decoupled USD from gold, undoing the Bretton Woods Agreement. Unbacked USD became the base money of the US economy.

Fiat-based-monies like the USD have a flexible supply, which is modulated by central banks. Central banks can increase or decrease the money supply—whether by changing interest rates, asset purchases, etc.—to meet their stated policy goals. In the US, the Federal Reserve, for example, seeks price stability and full employment.

However, throughout history, elastic supply almost necessarily implies governance by discretion, not rules. This is because only a fiat money that is not convertible into a fixed-supply asset like precious metals can be issued or removed from circulation with the degree of control needed. The ability of central banks to create or destroy portions of the money supply makes them attractive targets for political pressure or regulatory capture.

Fiat monies have supply flexibility but governance concerns. Monies built on fixed-supply assets have some governance immunity but supply rigidity. This is where the Ampleforth token, 

, fits in; by providing a base money with an elastic supply governed by rules, not discretion.

AMPL was designed to be the most straightforward solution to supply inelasticity, and thus an effective building block for the future of decentralized finance. This is how it works:

AMPL is a decentralized digital currency that automatically adjusts supply daily, based on market conditions. This adjustment is called a 

. During a rebase, oracles capture the market price of AMPL. Suppose the price is above or below the target price. In that case, the protocol will automatically inflate or deflate the supply of AMPL across all user wallets, universally and proportional to how much AMPL each user owns. In this way, AMPL is non-dilutive, so the percentage of one’s ownership of the network remains fixed through the rebase.

The rebase incentivizes counter-cyclical price pressure, as short term market actors seek to capitalize on perceived value discrepancies. For example, when demand for AMPL increases, and the price climbs above the target price, the protocol automatically inflates the supply during the daily rebase. Since AMPL owners now have more tokens, short-term holders are incentivized to sell their AMPL to capture their sudden value increase. More sellers mean downward price pressure towards the target price, ultimately encouraging structural stability no matter if demand spikes or wanes.

The Ampleforth Foundation introduced the AMPL as a rules-based, elastic token that could make unique and innovative contributions as a building block for decentralized finance. Next, the Ampleforth Foundation aims to build out “Elastic Finance,” that is, financial-function protocols that can natively make use of unique elastic assets like AMPL. The 

 to achieving that goal is expressed here as a stack. The foundation builds vertically up the stack and horizontally across blockchains, creating a cross-chain value highway.

In order to realize the Ampleforth mission of becoming a new base money used as a building block for the future of finance, there must be low-friction ways of obtaining and using AMPL. The foundation promotes AMPL adoption through its 

. Geysers are smart faucets that incentivize on-chain liquidity. Users receive AMPL for providing liquidity on automated market making platforms (AMMs) like Uniswap. The more liquidity a user provides and the longer the timeframe supplied, the more significant share of the AMPL pool you receive.

 are fundamental needs in any financial stack, including a decentralized, elastic one. AMPL exhibits unique properties that make it an attractive asset for these use cases. For example, debts can be denominated in AMPL so that their real value remains relatively stable. This allows protocols to natively and in a decentralized manner, place the exchange-rate risk with the lender, not the borrower.

Healthy money markets benefit from access to futures contracts and insurance contracts. The Elastic Finance Stack would not be complete without on-chain versions, purpose-built for elastic tokens like the AMPL.

Ampleforth is committed to the long-term vision of creating tools for the future of decentralized finance. That began with releasing the AMPL, the world’s first elastic, digital token, and continues as the foundation builds up the Elastic Finance Stack and across chains.

Introduction to Ampleforth

RenVM is an interoperability protocol for decentralized finance (DeFi), allowing anyone, anywhere to move digital assets between blockchains.

RenVM brings interoperability to DeFi, which allows assets like BTC, ZEC, and others to be used within the Ethereum ecosystem (DeFi) and other smart contracting platforms.

The easiest way to imagine RenVM is to first think of it as a custodian that holds your digital assets as they move between blockchains. You provide BTC to RenVM; it holds that BTC, and then 

 (a.k.a. renBTC) on Ethereum with 1:1 ratio to ensure the same amount of BTC always backs your renBTC. This approach applies to almost any digital asset and smart contracting platform. For example, RenVM can hold native Dogecoin and mint it on the Polkadot blockchain.

RenVM achieves interoperability because it serves as a “universal translator” or an adapter of sorts. It takes the blockchain’s native format and converts it to the format needed by its destination chain (e.g., RenVM takes BTC in its native form and converts it to an ERC-20, the Ethereum token standard).  More information on RenVM can be found 

’s native token and is used as a bond to run a node, which powers RenVM.

While anyone can run a node, to prevent the forging of identities, 100,000 REN tokens are required to register and run the node, thus ensuring good bond behavior. This also prevents malicious adversaries from running an unbounded number of nodes and overwhelming the network with misbehaving nodes.

Every time RenVM moves an asset from one blockchain to another, it takes a small fee. Nodes (and those who run them) earn these 

 (in BTC, ETH, ZEC, etc.) for helping power RenVM. More information on running a node can be found 

 is an Ethereum native ERC-20 peg to Bitcoin created by Ren Protocol

. renBTC tokens are generated through the RenVM, and renBTC represents a 1:1 peg to Bitcoin (BTC), meaning users can redeem their renBTC for BTC anytime through 

 is an Ethereum native ERC-20 peg to ZCash created by Ren Protocol

. renZEC tokens are generated through the RenVM, and renZEC represents a 1:1 peg to 

, meaning users can redeem their renZEC for ZEC anytime through RenBridge

Over the coming quarters, RenVM will be expanding the number of blockchains it supports and furthering its level of decentralization to ensure the network is robust as possible.

for a technical deep dive. A summary of the network statistics across the various platforms using the Ren protocol is available at 

. If you're interested in learning more, join the Ren community on 

What is RenVM and what are REN, renBTC, and renZEC tokens?

Introduction to RenVM

Synthetix is a derivatives liquidity protocol allowing anyone, anywhere to gain on-chain exposure to a vast range of assets. It enables the creation of synthetic assets called Synths, which are derivative tokens tracking the price of other assets, including cryptocurrencies, forex, indices, equities, and commodities. These Synths are backed by 

, which is staked as collateral, entitling stakers to fees generated by Synth trades.

Synthetix allows people to gain exposure to assets on Ethereum they might not otherwise be able to access. It also solves problems of liquidity and slippage, as all trades between Synths are operated peer-to-contract. The protocol does all this without compromising on decentralization — traders retain custody of their funds at all times. Other decentralization trading options like AMM’s have major liquidity and slippage restrictions for most assets.

, are already being used across a range of platforms that leverage the underlying Synthetix protocol. Curve Finance uses sUSD in its deep stablecoin liquidity pool, dHedge uses Synths in its non-custodial mimetic trading platform, and while most Synth trading currently occurs on 

 that a new dApp called Kwenta will offer a completely revamped trading experience, still powered by the Synthetix protocol. sETH is a synth pegged to ETH which Synthetix users can mint through staking SNX in the 

 token enables all of this — it gets staked as collateral to mint these Synths, creating a distributed liquidity pool. The incentive for SNX holders is that all contract exchanges between Synths generate trading fees, which are shared between SNX stakers. There is a correlation between the value of SNX and the number of Synths that can be minted into the system, which means there is a self-scaling mechanism built into the protocol.

 with Optimistic Ethereum, the Layer 2 scaling solution from Optimism, and has been showing unrivaled initiative in pushing DeFi onto L2. The other major milestone on the Synthetix roadmap is 

, which will allow non-custodial perpetual futures trading, offering high leverage trading across a range of assets.

. A summary of the network statistics across the various platforms using the Synthetix protocol is available at 

. If you’re interested in learning more, you can join the Synthetix community on 

What is Synthetix and what are SNX, sUSD, and sETH tokens?

Introduction to Synthetix

https://www.youtube.com/embed/wqsp4WFqntY

5 short months ago, our small but mighty team released Matcha to the world. Today, we’re thrilled to share that we’ve surpassed over $1B in cumulative volume across just 55 tokens - and it’s all thanks to our passionate user base of thousands of traders from Hong Kong to the US to Finland.

To celebrate this milestone, and in response to the insatiable demand our users have for accessing more markets through Matcha, we’ve enabled over 1,000+ new tokens along with the ability to add custom tokens to Matcha through a best-in-class experience that ensures anyone in the world can access and trade any market on Matcha with just a few clicks.

Starting today, when you navigate to the 

 page, you’ll now be able to search all available markets and begin trading immediately with assurance that Matcha will do the work to find you the best price for your trade across over 14 sources of liquidity. What’s more, because of the incredible work our team has done to create a custom routers for sources like Uniswap, it’s always cheaper to trade through Matcha than directly at the source.


Separately, if you find yourself unable to locate a specific token that you’d like to trade, you can follow our simple 

 to add the contract address and begin trading instantly.

We’ve been extremely humbled by the response to Matcha in the few short months since launch, and we have much more planned before the end of the year that will continue to make Matcha the best place to trade tokens.

All the things!

https://www.youtube.com/embed/nBo4FM1bB-4

 with the listing of DONUTs on Matcha! It’s exciting to watch Internet communities grow around tokens like DONUT, and we look forward to listing more tokens in this vertical. This simple guide covers the function of DONUT tokens and how to easily trade them on Matcha. Let’s dive in!

These tokens were originally released in October 2018 as “Community Points“ to the ETHtrader subreddit, which has 260,000+ members. Shortly after, though, the community voted to rename them to “DONUTs”. 

 to vote on community polls, grant special membership, and purchase the subreddit’s ad space.

How to buy and sell the r/EthTrader ad banner with DONUTs

The mechanism for buying and selling the ad banner is unique in that a Harberger tax is applied to each purchase. A Harberger tax is a concept popularized by the book called 

Radical Markets written by Glen Weyl and Eric Posner

1. The person who buys the banner sets the daily ad price. They can purchase multiple days of banner ad time.

2. Anyone can purchase it from them with their DONUTs for the set price, and the owner cannot refuse to sell at the current set price.

3. The person who owns the banner pays a tax on it (100% of the one-day banner price, daily) to keep the banner. Set the price too high, the more the owner pays in tax. But if it’s set too low, someone may buy it immediately.

4. If no one else buys the banner from the current owner, their banner image continues to be shown until the amount they deposited for the banner purchase is depleted.

5. When the banner is purchased, the DONUTs are sent to the original owner.

You can learn more about the philosophy and rationale behind this form of taxation 

The price of DONUTs is determined by the market, like any other token listed on decentralized exchanges. Matcha provides a simple interface to buy, sell, and trade DONUTs easily.

2. Register your Reddit account with MetaMask

3. Earn DONUTs by participating in the sub’s discussions (paid out weekly)

5. Choose a token to swap with your DONUTs and make the trade

Check out the video below for a walkthrough on how to trade DONUTs on Matcha.

How to trade Reddit ETHtrader DONUTs on Matcha

How to trade your EthTrader DONUTs

https://www.youtube.com/embed/V7uXrDaD8cM

Since launching in June, Matcha users have completed over 

! We are thrilled with this response and grateful for the feedback and engagement we’ve received from the community. Going into the final quarter of the year we wanted to make sure we addressed the two biggest pieces of feedback we’ve received:

Transaction costs are too high, especially for single source orders

 Matcha needs more tokens listed (Big update coming soon, stay tuned!)

Matcha’s goal is to always find you the best price for your trade, plain and simple. We do this by aggregating more than 13 liquidity sources and intelligently splitting up your order across multiple exchanges. But often the best deal can be found on a single exchange like Uniswap. In those instances Matcha has always been more expensive than going directly to the source. However, we’re excited to say this is no longer the case!

Starting today, 

it’s now actually cheaper to access Uniswap liquidity through Matcha

 than it is to go directly to the Uniswap UI! This is all thanks to the ongoing innovation of 

, which powers Matcha. 72% of the time Matcha is able to offer better prices than 1inch, Dex Ag, Paraswap and Uniswap. You can read the 

 about how Matcha stacks up against other DEXs.

Matcha outperforms other exchanges ~72% of the time by offering better prices after accounting for gas.

In addition to the Uniswap price optimizations we’re rolling out a few features we designed to give you more control and insight into your trades.


First, when reviewing your order we’ll now show you exactly how much money you’re saving by using Matcha. By comparing ourselves to the next best option.


Next, you’ll notice that most markets on Matcha now have depth charts enabled. Depth charts assist traders by providing an x-ray view into where liquidity is coming from. Drag your mouse over to see how your trade might be distributed across different exchanges in order to receive the best rate.

Finally, in order to have more control over how your trade is executed, we’ve introduced advanced controls. These controls will allow you to toggle on and off liquidity sources, adjust maximum slippage and change gas speed.

Today's updates are part of our ongoing commitment to put our users in control by offering an intuitive and trustworthy product experience that consistently saves you time and money. We’re looking forward to hearing what you think! Let us know on 

How Matcha is taking DEX aggregation to a whole new level

Create your first limit order on Matcha for free today



Over the past few months, Ethereum’s gas costs have risen dramatically, which has resulted in extremely high transaction costs and difficulty for DeFi users to get the prices they want when trading. We have been aware of this issue for quite some time and have designed Matcha to give traders the tools they need to navigate these high fee environments. In this post, we cover how to create free limit orders and how we transparently display fees so you know exactly the price you’re paying on each trade.



Before diving into how to set limit orders on Matcha, it’s important to understand the difference between a regular market order vs a limit order. A 

 is used when a trader wants to buy or sell a token at the current available price determined by the market. 

 is used when a trader wants to buy or sell a token at a specific price.



Limit orders are extremely useful when gas costs are high because traders can ensure that they receive the exact amount of tokens at their desired price without having to spend money on fees. Often times, market orders will fail because traders are not setting their fees high enough to be confirmed on-chain. Every time the order fails, they lose the amount they paid for the fee. On Matcha, all traders can set limit orders for free and can sleep soundly while they wait for their orders to be filled at their target price.

Unlike other decentralized exchanges (DEXs) that operate solely on-chain like Uniswap, Curve, Kyber, etc. Matcha does not store orders on the blockchain. Instead, orders are stored off-chain via 0x protocol, and only move on-chain to complete the trade. The maker of orders never pays fees, only the taker. This unique feature allows Matcha to offer free limit orders while other DEXs can’t.

Creating a limit order on Matcha is simple. Just select a market, click the 3 dots in the top right corner of the trade module, and click “Limit Order”. From there, you can input the price you want to buy a token at and when you’d like the order to expire if hasn’t been filled. You can set limit orders to expire in 10 minutes, 1 hour (default), 24 hours, 3 days, or 7 days.

Note that Matcha limit orders only fill at the exact Limit Price you specify (not above or below) and orders will remain open until 100% filled or until they reach expiration. Also, limit orders are not currently available on ETH markets. However, they are available on ERC-20 token markets, including WETH markets and you can easily 

.

Filling limit orders on Matcha is different from centralized exchanges, so it is a good idea to learn about the scenarios of why your limit order may not be filled as expected. Some common reasons:

. Your order will only fill if there is enough liquidity to meet its requirements (number of tokens and price). Please note that the token price displayed on Matcha is the last trade price and not the price at which tokens are currently available. This situation occurs most frequently with large orders for tokens with less liquidity.

 Your order will remain open until another trader is willing to accept your order's requirements (number of tokens and price).

You do not have enough tokens in your wallet to complete the trade. 

For example, if you created a limit order for 5 ETH and you have less than 5 ETH in your wallet when your limit order is triggered, the transaction will not complete.

 Smaller limit orders can be less attractive for takers, including arbitrage bots, especially if they are making larger trades since all transactions carry an 

Your order wasn't profitable enough for an arbitrage bot to fill

. Arbitrage bots account for a good portion of limit order volume. If your order isn't worthwhile for bots to fill after factoring in the fees, they won't fill the order. This is especially true when Ethereum gas costs spike.

Other exchanges are not always transparent in disclosing all the fees charged for each trade. Matcha will always display a comprehensive fee breakdown in the review order prompt before a trade is executed. See a comparison below with Uniswap.

We are always looking for ways to improve the DEX trading experience, reach out to us through our Help button or 

How to easily create Matcha limit orders and see the total price of your trade through our transparent UI.

How to trade DeFi tokens when Ethereum gas prices spike

We are thrilled to announce that several new tokens are available to trade on 

). These are among the most requested tokens from the DeFi community due to their use in 

. For those that don’t frequent crypto Twitter or the 4chan biz forum, yield farming is a recent trend where crypto traders seek to earn additional tokens by providing capital and liquidity to protocols via structured incentive programs. Development teams create these programs in order to attract capital to their pools and distribute their project’s token in order to decentralize ownership.

This post gives an overview of how traders can use Matcha to increase their yield farming returns, as well as brief descriptions of the newly listed tokens that explain their function within their respective protocols.



How to increase your yield farming returns by trading on Matcha