Loopring Monthly Update — 2020/08

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his month we released Loopring Wallet’s smart contract v1.1 and started the app’s UX/UI redesign. We hope to invite users to an early beta in September. Loopring protocol 3.6 is close to code-complete (a quite special new feature was added, read below!) and the external security audits will start in two weeks.

Loopring Protocol

Our upcoming Loopring 3.6 release has been undergoing an internal audit this month. In the upcoming month, we will start audits with external partners. We further improved our circuits and contracts’ efficiency with a significantly reduced cost per transaction as a result. We will continue measuring different workloads to make sure everything works as efficiently as expected.

We are also finalizing a feature of Loopring 3.6 that we have not yet talked about: AMM. Loopring 3.6 will support both orderbook-based and AMM-based trading on layer-2 and allow settlement between regular orders and AMM pools directly. We will share more details about this much-requested feature in the coming weeks.

For more info on Loopring 3.6, check out this presentation (slides or video) from EDCON. [AMM is not discussed therein, as it is more recent.]

Loopring Exchange

We edited the liquidity mining dashboard on Loopring.io to display realtime stats for our liquidity mining campaigns, now showing reward pool, duration, spread requirement, etc. Currently, liquidity mining campaigns are running for the USDT/DAIUSDC/USDTGRG/ETH, and BZRX/ETH trading pairs. We will add another one this week.

https://loopring.io/account/liquidity-mining

The Loopring Exchange now gives maker orders a rebate on every order filled: 8% of the taker trading fee is given to makers. Also, the taker fee schedule has changed, and instead of ranging from 0.06% to 0.1%, taker fees now range a bit higher, from 0.06% to 0.2%. So, given the default taker fee of 0.2%, 1.6 bps (0.2% * 8%) is given to makers on their volume. This means makers now have negative fees (earning fees to trade). You can see maker rebates accrue daily on your account’s dashboard. [Note, there are no additional gas fees to trades, the fees are all-in.]


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