The State of Decentralized Exchange in 2019 w/ 0x Founders Will Warren & Amir Bandeali - Part 1 (Ep. 0062)

This episode is the first of a two-part conversation with Will Warren and Amir Bandeali, co-founders of 0x. 0x is an open-source protocol that powers the decentralized exchange of tokens on Ethereum.

This interview is part of a series with exchange operators. We've interviewed Binance CEO Changpeng Zhao (CZ), Binance CFO Wei Zhou, Ivan Poon from Switcheo, Alex Wearn from IDEX, Sam Bankman-Fried from FTX, John Jansen from Deribit, and Mario Lozada from Liquid.

My conversation with Will and Amir is split into 4 chapters:

- Chapter 1: Decentralized exchange before DEXs

- Chapter 2: A short history of DEXs and 0x

- Chapter 3: The current state of DEXs and 0x

- Chapter 4: An exploration of the future

In this episode, we cover chapters 1, 2, and part of chapter 3. In the next episode, we finish chapter 3 and cover chapter 4.

In this episode, we discuss:

How Amir and Will got into cryptocurrency

Why Ethereum needed a protocol like 0x

Why 0x decided to open source

The early days of decentralized exchange

The benefits of moving order books off-exchange

Obstacles to the mass adoption of DEXs

Present-day DeFi vs. ICO Mania

0x's corporate structure

Changes to token economics in v3

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