The ZeroEx (Exchange Proxy) contract implements a delegate-call proxy pattern to create a system of composable smart contracts. This architecture enables 0x Protocol to innovate with minimal friction alongside the growing DeFi ecosystem.

The diagram below illustrates our system (click to enlarge).


The table below defines our smart contract nomenclature.




The point of entry into the system. This contract delegate-calls into Features.


These contracts implement the core feature set of the 0x Protocol. They are trusted with user allowances and permissioned by the 0x Governor.


These contracts extend the core protocol. They are trustless and permissioned by the Transformer Deployer.

Flash Wallet

The Flash Wallet is a sandboxed escrow contract that holds funds for Transformers to operate on. For example, the WETHtransformer wraps any Ether in the Flash Wallet.


A smart contract that governs trusted contracts in the system: Proxy, Features, Flash Wallet.

PLP Sandbox

PLP liquidity providers are called from this sandbox.