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diff --git a/packages/website/ts/pages/faq/faq.tsx b/packages/website/ts/pages/faq/faq.tsx new file mode 100644 index 000000000..3c65d1042 --- /dev/null +++ b/packages/website/ts/pages/faq/faq.tsx @@ -0,0 +1,497 @@ +import * as _ from 'lodash'; +import * as React from 'react'; +import * as DocumentTitle from 'react-document-title'; +import RaisedButton from 'material-ui/RaisedButton'; +import {colors} from 'material-ui/styles'; +import {Styles, FAQSection, FAQQuestion, WebsitePaths} from 'ts/types'; +import {Link} from 'react-router-dom'; +import {Footer} from 'ts/components/footer'; +import {TopBar} from 'ts/components/top_bar'; +import {Question} from 'ts/pages/faq/question'; +import {configs} from 'ts/utils/configs'; +import {constants} from 'ts/utils/constants'; + +export interface FAQProps { + source: string; + location: Location; +} + +interface FAQState {} + +const styles: Styles = { + thin: { + fontWeight: 100, + }, +}; + +const sections: FAQSection[] = [ + { + name: '0x Protocol', + questions: [ + { + prompt: 'What is 0x?', + answer: ( + <div> + At its core, 0x is an open and non-rent seeking protocol that facilitates trustless, + low friction exchange of Ethereum-based assets. Developers can use 0x as a platform + to build exchange applications on top of{' '} + (<a href={`${configs.BASE_URL}${WebsitePaths.ZeroExJs}#introduction`} target="blank">0x.js</a> + {' '}is a Javascript library for interacting with the 0x protocol). For end users, 0x will be + the infrastructure of a wide variety of user-facing applications i.e.{' '} + <a href={`${configs.BASE_URL}${WebsitePaths.Portal}`} target="blank">0x Portal</a>, + a decentralized application that facilitates trustless trading of Ethereum-based tokens + between known counterparties. + </div> + ), + }, + { + prompt: 'What problem does 0x solve?', + answer: ( + <div> + In the two years since the Ethereum blockchain’s genesis block, numerous decentralized + applications (dApps) have created Ethereum smart contracts for peer-to-peer exchange. + Rapid iteration and a lack of best practices have left the blockchain scattered with + proprietary and application-specific implementations. As a result, end users are + exposed to numerous smart contracts of varying quality and security, with unique + configuration processes and learning curves, all of which implement the same + functionality. This approach imposes unnecessary costs on the network by fragmenting + end users according to the particular dApp each user happens to be using, eliminating + valuable network effects around liquidity. 0x is the solution to this problem by + acting as modular, unopinionated building blocks that may be assembled and reconfigured. + </div> + ), + }, + { + prompt: 'How is 0x different from a centralized exchange like Poloniex or ShapeShift?', + answer: ( + <div> + <ul> + <li> + 0x is a protocol for exchange, not a user-facing exchange application. + </li> + <li> + 0x is decentralized and trustless; there is no central party which can be + hacked, run away with customer funds or be subjected to government regulations. + Hacks of Mt. Gox, Shapeshift and Bitfinex have demonstrated that these types of + systemic risks are palpable. + </li> + <li> + Rather than a proprietary system that exists to extract rent for its owners, + 0x is public infrastructure that is funded by a globally distributed community + of stakeholders. While the protocol is free to use, it enables for-profit + user-facing exchange applications to be built on top of the protocol. + </li> + </ul> + </div> + ), + }, + { + prompt: 'If 0x protocol is free to use, where do transaction fees come in?', + answer: ( + <div> + 0x protocol uses off-chain order books to massively reduce friction costs for + market makers and ensure that the blockchain is only used for trade settlement. + Hosting and maintaining an off-chain order book is a service; to incent “Relayers” + to provide this service they must be able to charge transaction fees on trading + activity. Relayers are free to set their transaction fees to any value they desire. + We expect Relayers to be highly competitive and transaction fees to approach an + efficient economic equilibrium over time. + </div> + ), + }, + { + prompt: 'What are the differences between 0x protocol and state channels?', + answer: ( + <div> + <div> + Participants in a state channel pass cryptographically signed messages back and + forth, accumulating intermediate state changes without publishing them to the + canonical chain until the channel is closed. State channels are ideal for “bar tab” + applications where numerous intermediate state changes may be accumulated off-chain + before being settled by a final on-chain transaction (i.e. day trading, poker, + turn-based games). + </div> + <ul> + <li> + While state channels drastically reduce the number of on-chain transactions + for specific use cases, numerous on-chain transactions and a security deposit + are required to open and safely close a state channel making them less efficient + than 0x for executing one-time trades. + </li> + <li> + State channels are isolated from the Ethereum blockchain meaning that + they cannot interact with smart contracts. 0x is designed to be integrated + directly into smart contracts so trades can be executed programmatically + in a single line of Solidity code. + </li> + </ul> + </div> + ), + }, + { + prompt: 'What types of digital assets are supported by 0x?', + answer: ( + <div> + 0x supports all Ethereum-based assets that adhere to the ERC20 token standard. + There are many ERC20 tokens, worth a combined $2.2B, and more tokens are created + each month. We believe that, by 2020, thousands of assets will be tokenized and + moved onto the Ethereum blockchain including traditional securities such as equities, + bonds and derivatives, fiat currencies and scarce digital goods such as video game + items. In the future, cross-blockchain solutions such as{' '} + <a href="https://cosmos.network/" target="_blank">Cosmos</a> and{' '} + <a href="http://polkadot.io/" target="_blank">Polkadot</a> will allow cryptocurrencies + to freely move between blockchains and, naturally, currencies such as Bitcoin will + end up being represented as ERC20 tokens on the Ethereum blockchain. + </div> + ), + }, + { + prompt: '0x is open source: what prevents someone from forking the protocol?', + answer: ( + <div> + Ethereum and Bitcoin are both open source protocols. Each protocol has been forked, + but the resulting clone networks have seen little adoption (as measured by transaction + count or market cap). This is because users have little to no incentive to switch + over to a clone network if the original has initial network effects and a talented + developer team behind it. + An exception is in the case that a protocol includes a controversial feature such as + a method of rent extraction or a monetary policy that favors one group of users over + another (Zcash developer subsidy - for better or worse - resulted in Zclassic). + Perceived inequality can provide a strong enough incentive that users will fork the + original protocol’s codebase and spin up a new network that eliminates the controversial + feature. In the case of 0x, there is no rent extraction and no users are given + special permissions. + + 0x protocol is upgradable. Cutting-edge technical capabilities can be integrated + into 0x via decentralized governance (see section below), eliminating incentives + to fork off of the original protocol and sacrifice the network effects surrounding + liquidity that result from the shared protocol and settlement layer. + </div> + ), + }, + ], + }, + { + name: '0x Token (ZRX)', + questions: [ + { + prompt: 'Explain how the 0x protocol token (zrx) works.', + answer: ( + <div> + <div> + 0x protocol token (ZRX) is utilized in two ways: 1) to solve the{' '} + <a href="https://en.wikipedia.org/wiki/Coordination_game" target="_blank"> + coordination problem + </a> and drive network effects around liquidity, creating a feedback loop + where early adopters of the protocol benefit from wider adoption and 2) to + be used for decentralized governance over 0x protocol's update mechanism. + In more detail: + </div> + <ul> + <li> + ZRX tokens are used by Makers and Takers (market participants that generate + and consume orders, respectively) to pay transaction fees to Relayers + (entities that host and maintain public order books). + </li> + <li> + ZRX tokens are used for decentralized governance over 0x protocol’s update + mechanism which allows its underlying smart contracts to be replaced and + improved over time. An update mechanism is needed because 0x is built upon + Ethereum’s rapidly evolving technology stack, decentralized governance is + needed because 0x protocol’s smart contracts will have access to user funds + and numerous dApps will need to plug into 0x smart contracts. Decentralized + governance ensures that this update process is secure and minimizes disruption + to the network. + </li> + </ul> + </div> + ), + }, + { + prompt: 'Why must transaction fees be denominated in 0x token (ZRX) rather than ETH?', + answer: ( + <div> + 0x protocol’s decentralized update mechanism is analogous to proof-of-stake. + To maximize the alignment of stakeholder and end user incentives, the staked + asset must provide utility within the protocol. + </div> + ), + }, + { + prompt: 'How will decentralized governance work?', + answer: ( + <div> + Decentralized governance is an ongoing focus of research; it will involve token + voting with ZRX. Ultimately the solution will maximize security while also maximizing + the protocol’s ability to absorb new innovations. Until the governance structure is + formalized and encoded within 0x DAO, a multi-sig will be used as a placeholder. + </div> + ), + }, + ], + }, + { + name: 'ZRX Token Launch and Fund Use', + questions: [ + { + prompt: 'What is the total supply of ZRX tokens?', + answer: ( + <div> + 1,000,000,000 ZRX. Fixed supply. + </div> + ), + }, + { + prompt: 'When is the Token Launch? will there be a pre-sale?', + answer: ( + <div> + The token launch will be on August 15th, 2017. There will not be a pre-sale. + </div> + ), + }, + { + prompt: 'What will the token launch proceeds be used for?', + answer: ( + <div> + 100% of the proceeds raised in the token launch will be used to fund the development + of free and open source software, tools and infrastructure that support the protocol + and surrounding ecosystem. Check out our{' '} + <a + href="https://docs.google.com/document/d/1_RVa-_bkU92fWRsC8eNy4vYjcTt-WC8GtqyyjbTd-oY" + target="_blank" + > + development roadmap + </a>. + </div> + ), + }, + { + prompt: 'What will be the initial distribution of ZRX tokens?', + answer: ( + <div> + <div className="center" style={{width: '100%'}}> + <img + style={{width: 350}} + src="/images/zrx_pie_chart.png" + /> + </div> + <div className="py1"> + <div className="bold pb1"> + Token Launch (50%) + </div> + <div> + ZRX is inherently a governance token that plays a critical role in the + process of upgrading 0x protocol. We are fully committed to formulating + a functional and theoretically sound governance model and we plan to dedicate + significant resources to R&D. + </div> + </div> + <div className="py1"> + <div className="bold pb1"> + Retained by 0x (15%) + </div> + <div> + The 0x core development team will be able to sustain itself for approximately + five years using funds raised through the token launch. If 0x protocol + proves to be as foundational a technology as we believe it to be, the + retained ZRX tokens will allow the 0x core development team to sustain + operations beyond the first 5 years. + </div> + </div> + <div className="py1"> + <div className="bold pb1"> + Developer Fund (15%) + </div> + <div> + The Developer Fund will be used to make targeted capital injections + into high potential projects and teams that are attempting to grow + the 0x ecosystem, strategic partnerships, hackathon prizes and community + development activities. + </div> + </div> + <div className="py1"> + <div className="bold pb1"> + Founding Team (10%) + </div> + <div> + The founding team’s allocation of ZRX will vest over a traditional 4 + year vesting schedule with a one year cliff. We believe this should + be standard practice for any team that is committed to making their + project a long term success. + </div> + </div> + <div className="py1"> + <div className="bold pb1"> + Early Backers & Advisors (10%) + </div> + <div> + Our backers and advisors have provided capital, resources and guidance + that have allowed us to fill out our team, setup a robust legal entity + and build a fully functional product before launching a token. As a result, + we have a proven track record and can offer a token that holds genuine utility. + </div> + </div> + </div> + ), + }, + { + prompt: 'Can I mine ZRX tokens?', + answer: ( + <div> + No, the total supply of ZRX tokens is fixed and there is no continuous issuance + model. Users that facilitate trading over 0x protocol by operating a Relayer + earn transaction fees denominated in ZRX; as more trading activity is generated, + more transaction fees are earned. + </div> + ), + }, + { + prompt: 'Will there be a lockup period for ZRX tokens sold in the token launch?', + answer: ( + <div> + No, ZRX tokens sold in the token launch will immediately be liquid. + </div> + ), + }, + { + prompt: 'Will there be a lockup period for tokens allocated to the founding team?', + answer: ( + <div> + Yes. ZRX tokens allocated to founders, advisors and staff members will be released + over a 4 year vesting schedule with a 25% cliff upon completion of the initial + token launch and 25% released each subsequent year in monthly installments. Staff + members hired after the token launch will have a 4 year vesting schedule with a + one year cliff. + </div> + ), + }, + { + prompt: 'Which cryptocurrencies will be accepted in the token launch?', + answer: ( + <div>ETH.</div> + ), + }, + { + prompt: 'When will 0x be live?', + answer: ( + <div> + An alpha version of 0x has been live on our private test network since January + 2017. Version 1.0 of 0x protocol will be deployed to the canonical Ethereum + blockchain after a round of security audits and prior to the public token launch. + 0x will be using the 0x protocol during our token launch. + </div> + ), + }, + { + prompt: 'Where can I find a development roadmap?', + answer: ( + <div> + Check it out{' '} + <a + href="https://drive.google.com/open?id=14IP1N8mt3YdsAoqYTyruMnZswpklUs3THyS1VXx71fo" + target="_blank" + > + here + </a>. + </div> + ), + }, + ], + }, + { + name: 'Team', + questions: [ + { + prompt: 'Where is 0x based?', + answer: ( + <div> + 0x was founded in SF and is driven by a diverse group of contributors. + </div> + ), + }, + { + prompt: 'How can I get involved?', + answer: ( + <div> + Join our <a href={constants.ZEROEX_CHAT_URL} target="_blank">Rocket.chat</a>! + As an open source project, 0x will rely on a worldwide community of passionate + developers to contribute proposals, ideas and code. + </div> + ), + }, + { + prompt: 'Why the name 0x?', + answer: ( + <div> + 0x is the prefix for hexadecimal numeric constants including Ethereum addresses. + In a more abstract context, as the first open protocol for exchange 0x represents + the beginning of the end for the exchange industry’s rent seeking oligopoly: + zero exchange. + </div> + ), + }, + { + prompt: 'How do you pronounce 0x?', + answer: ( + <div> + We pronounce 0x as “zero-ex,” but you are free to pronounce it however you please. + </div> + ), + }, + ], + }, +]; + +export class FAQ extends React.Component<FAQProps, FAQState> { + public componentDidMount() { + window.scrollTo(0, 0); + } + public render() { + return ( + <div> + <DocumentTitle title="0x FAQ"/> + <TopBar + blockchainIsLoaded={false} + location={this.props.location} + /> + <div + id="faq" + className="mx-auto max-width-4 pt4" + style={{color: colors.grey800}} + > + <h1 className="center" style={{...styles.thin}}>0x FAQ</h1> + <div className="sm-px2 md-px2 lg-px0 pb4"> + {this.renderSections()} + </div> + </div> + <Footer location={this.props.location} /> + </div> + ); + } + private renderSections() { + const renderedSections = _.map(sections, (section: FAQSection, i: number) => { + const isFirstSection = i === 0; + return ( + <div key={section.name}> + <h3>{section.name}</h3> + {this.renderQuestions(section.questions, isFirstSection)} + </div> + ); + }); + return renderedSections; + } + private renderQuestions(questions: FAQQuestion[], isFirstSection: boolean) { + const renderedQuestions = _.map(questions, (question: FAQQuestion, i: number) => { + const isFirstQuestion = i === 0; + return ( + <Question + key={question.prompt} + prompt={question.prompt} + answer={question.answer} + shouldDisplayExpanded={isFirstSection && isFirstQuestion} + /> + ); + }); + return renderedQuestions; + } +} |