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분권형 거래소 토큰 프로토콜

홈페이지 https://loopring.org/

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Loopring은 분권형 거래소를 구축하기 위한 프로토콜입니다. 거래와 정산을 담당하는 공개형 스마트 계약 집합으로 운영되며 오프 체인에서 주문을 집계하고 전달하는 행위자 그룹과 함께 운영됩니다.

경영진 및 파트너사

Daniel Wang

CEO

Jay Zhou

CMO

Johnston Chen

COO

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미디움

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 03/16/2019We published the design of a new auction-based trading protocol, scheduled an LRC token contract upgrade, and made substantial progress in Loopring Protocol 3.0.Research & DevelopmentProtocolsWe have made significant progress in Loopring Protocol 3.0’s development. The current plan is to open source our GitHub repository by the end of April with a whitepaper dedicated to this new major upgrade.We have also published an auction-based protocol design called Oedax (Open-End Dutch Auction Exchange). Oedax is complementary to order-based trading protocols including Loopring and will be used by the Loopring Protocol 2.0 to automate the fee-burning feature. Oedax will be open-sourced in Q2, 2019. If you are interested in developing Oedax on infrastructures other than Ethereum, please reach out to us.We have prepared and scheduled an upgrade to our current LRC token smart contract on May 8th, 2019. After the upgrade, LRC’s total/max supply will gradually decrease according to network usage.In the near future, the fee-burning design in v2, the Oedax protocol, and the new LRC token contract will seamlessly work together and fundamentally change Loopring. Loopring Protocol 3.0 will open a new door for scaling DEXs.RelayerThe Lightcone relayer backend is code-complete. We are performing integration testing and refactoring some unit tests. The testing will last for as long as it requires, but we are trying our very best to launch a beta internally in one month. In the meanwhile, we are also documenting the new APIs for our ecosystem partners.The Lightcone relayer will be open sourced to select partners and will be available as cloud-based API services for DEXs, wallets, and market makers. It will effectively be Matching-as-a-Service for any non-custodial trading needs. If you are interested to get early access to Lightcone, please contact our operation team at service@loopring.org.ProductsWe have started to integrate UpWallet with Lightcone relayer. In the meanwhile, we are planning to redesign UpWallet to provide a much better user experience and make it more stylish. If you are experienced in crypto wallet app UX/UI design and are enthusiastic in decentralized exchange or DeFi in general, please reach out to us — we are looking for talented part-time designers.Operations & Marketing03/05/2019 — Loopring protocol developer, Brecht Devos, was in Paris for EthCC. Brecht is leading the development of the very promising Loopring Protocol 3.0.Loopring @EthCC03/06/2019 — Loopring’s Matthew Finestone attended Fintech Cadence’s Ascension accelerator to help mentor fintech startups on blockchain day.03/07/2019 — Kriptomat hosts a live video AMA with Matthew speaking about all things DEX.03/08/2019 — Loopring sponsored the ETH UofT hackathon at University of Toronto. Our main prize went to Ryan and Daniel of team PeerRing for their Android P2P trading app.Loopring @ EthUofT03/13/2019 — LRC was listed on BC Bitcoin, where users can buy and sell LRC with multiple fiat currencies.03/15/2019 — Loopring partnered with Changelly, to open LRC to USD/EUR purchasing channels. Users can use their credit cards to purchase LRC directly through Changelly.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 03/16/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 16

Loopring partnered with Ch ...

Loopring, a protocol for decentralized token exchange, has partnered with Changelly, a popular instant cryptocurrency exchange, to open LRC and USD(dollar)/EUR(Euro) trading channels. Users can use their credit card to purchase LRC directly through Changelly, bringing faster transactions and better rates to users.“Uniting mobile and web apps, messengers, wallets, exchanges is an outstanding feature of blockchain technology. By doing that we build a truly global decentralized ecosystem, where people can be totally in charge of their funds and cyber behavior, thus keeping anonymity as long as they find it crucial. That is why we at Changelly couldn’t be more excited to provide Loopring.org with our instant exchange widget. Plus the LRC token is now available for exchange on Changelly.com, hence uniting crypto communities of both our projects, which is awesome.” — Dmitry Burin, COO Changelly admits.Changelly is an exchange that enables complete beginners to enter the world of cryptocurrencies in a simple, safe and quick way. With Changelly, buying cryptocurrencies and exchanging them has never been easier. In addition, the company has transparent reasonable fees, and customers can trade with the best rates on the market and are charged a fixed fee of 0.5% per trade.Daniel Wang, CEO at Loopring has commented: Loopring is honored to be available on world’s well-known cryptocurrency exchange Changelly. Changelly is a simple way for any person to jump into the crypto world, and it has made remarkable contributions to the promotion of cryptocurrency globalization. We look forward to this partnership as a major step for crypto and for Loopring, by allowing usage and access to mainstream users.About LoopringLoopring is a protocol for building decentralized exchanges. Besides the protocol smart contracts, Loopring provides higher liquidity and price improvement by matching orders in the form of order-rings. With order sharing, multiple relayers can form a consortium for building a shared liquidity pool to compete with established exchanges. Also, Loopring combines off-chain order sharing and on-chain settlement.About ChangellyChangelly is a non-custodial instant cryptocurrency exchange. We act as an intermediary between crypto exchanges and users, offering access to 140+ cryptocurrencies. The company mission is making an exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support.Changelly offers its API and a customizable widget to any crypto service that wishes to broaden its audience and implement new exchange options. Changelly partners with MyEtherWallet, Exodus, Binance, BRD, Edge, Coinomi, Trezor, Ledger, Enjin, Coinpayments, Huobi Wallet and other well-known players in the crypto industry.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring partnered with Changelly to trade fiat-crypto with credit card was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 15

Loopring partnered with Ch ...

Loopring partners with Changelly to allow fiat-to-crypto with credit cardsLoopring, a protocol for decentralized token exchange, has partnered with Changelly, a popular instant cryptocurrency exchange, to open LRC to USD and EUR trading channels. Users can use their credit card to purchase LRC directly through Changelly, bringing faster transactions and better rates.“Uniting mobile and web apps, messengers, wallets, exchanges is an outstanding feature of blockchain technology. By doing that we build a truly global decentralized ecosystem, where people can be totally in charge of their funds and cyber behavior, thus keeping anonymity as long as they find it crucial. That is why we at Changelly couldn’t be more excited to provide Loopring.org with our instant exchange widget. Plus the LRC token is now available for exchange on Changelly.com, hence uniting crypto communities of both our projects, which is awesome.” — Dmitry Burin, COO Changelly admits.Changelly is an exchange that enables complete beginners to enter the world of cryptocurrencies in a simple, safe and quick way. With Changelly, buying cryptocurrencies and exchanging them has never been easier. In addition, the company has transparent reasonable fees, and customers can trade with the best rates on the market and are charged a fixed fee of 0.5% per trade.Daniel Wang, CEO at Loopring has commented: Loopring is honored to be available on world’s well-known cryptocurrency exchange Changelly. Changelly is a simple way for any person to jump into the crypto world, and it has made remarkable contributions to the promotion of cryptocurrency globalization. We look forward to this partnership as a major step for crypto and for Loopring, by allowing usage and access to mainstream users.About LoopringLoopring is a protocol for building decentralized exchanges. Besides the protocol smart contracts, Loopring provides higher liquidity and price improvement by matching orders in the form of order-rings. With order sharing, multiple relayers can form a consortium for building a shared liquidity pool to compete with established exchanges. Loopring combines off-chain order sharing and on-chain settlement.About ChangellyChangelly is a non-custodial instant cryptocurrency exchange. We act as an intermediary between crypto exchanges and users, offering access to 140+ cryptocurrencies. The company mission is making an exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support.Changelly offers its API and a customizable widget to any crypto service that wishes to broaden its audience and implement new exchange options. Changelly partners with MyEtherWallet, Exodus, Binance, BRD, Edge, Coinomi, Trezor, Ledger, Enjin, Coinpayments, Huobi Wallet and other well-known players in the crypto industry.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring partnered with Changelly to trade fiat-crypto with credit card was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 15

Oedax: Loopring’s Open-End ...

Oedax: Loopring’s Open-End Dutch Auction Exchange ModelWe introduce an enhanced Dutch Auction-based exchange model, Oedax, that allows both buyers and sellers to participate after an auction starts. In this post, we outline the design of such an exchange model and analyze some of its properties.Dutch AuctionIn a Dutch Auction, a fixed amount of an asset is put into the auction for sale. The initial ask price starts (much) higher than any open market prices and decreases gradually to zero, according to some pre-specified function. The dutch auction ends if and only if the actual price, calculated by dividing the accumulated money (sent by the bidders) by the number of assets (being sold by sellers), equals the ask-price at a given moment.Dutch Auctions have some desirable properties. First of all, auctions always settle, guaranteed. Secondly, all participants in the same auction get the same price for settlement, regardless when they participate in the auction and the size of their contributions. This property avoids front-running issues that most order-based exchange models suffer. This same-settlement price property, however, does have a drawback as well — participants tend to withhold until a later time to participate when the ask-price becomes more reasonable instead of during the early phase of the auction.Dutch Auction is an excellent means of price discovery, especially in a decentralized environment powered by blockchain technology. Specifically, the settlement prices in Dutch Auction can act as decentralized price oracles for smart contracts — assuming the auctions are well known and there are enough participants.The original Dutch Auction model is designed for one-way asset offering and does not allow additions of assets being sold once the auctions start. We propose an enhanced version called Open-end Dutch Auction Exchange, or Oedax, which is more like a bi-directional exchange instead of a one-way auction.Introducing OedaxWe designed Oedax to facilitate two groups of people, sellers and buyers, to exchange assets, especially cryptocurrencies or crypto tokens. Therefore, in this post, we use crypto tokens as examples for easier description, but Oedax is truly generic and can be applied to the exchange of other types of assets.Suppose sellers want to sell TokenA for TokenB, and buyers want to buy TokenA with TokenB. Oedax allows sellers to auction off TokenA to buyers for TokenB, and in the meanwhile and the very same auction, allows buyers to auction off TokenB to sellers for TokenA. Therefore an Oedax auction can be perceived as two internal-auctions seemingly integrated with shared parameters.We further suppose that the fair market price for TokenA, with respect to TokenB, is P; and the initial sell-price of TokenA in an Oedax auction is M*P where M > 1 — we call P the target price and M the price scale factor. The duration of the Oedax auction is T, which is the expected time the auction will end if no one ever participated in the auction.Then we specify two price curves, one for the selling of TokenA, i.e, the Sell Curve (or SC), and one for the buying of TokenA, i.e, the Buy Curve (or BC). These two curves are designed to satisfy the following requirements:SC(0) == P*M && SC(T) == P/M (rule#1);BC(0) == P/M && BC(T) == P*M (rule#2);There exists a time t, t ≤ T, such that SC(t) == BC(t) == P (rule#3).We further assume the amount of TokenA in the auction at any time t is Qs(t), and the amount of TokenB at any time t is Qb(t). Then a horizontal line representing the actual price p(t) = Qb(t)/Qs(t) can be drawn. We call this horizontal line the actual price line, or APL. Note that APL moves upward if more TokenB participates in the auction and downward if more TokenA participates in the auction.Price Curves (red: Sell Curve, green: Buy Curve) with T = 40, P = 2.0, M = 4.0Price Bonding and SettlementAn Oedax auction can start with zero TokenA and/or TokenB deposit, i.e, Qb(0) == Qs(0) == 0. As time passes, participants can deposit either TokenA or TokenB to change the actual price p. But Oedax applies some important price bonding rules:Once the actual price p falls in between SC and BC curves at time T’, it should always stay in between the curves to make BC(t) ≤ p(t) ≤ SC(t) hold for any t ≥ T’ until the auction ends (rule#4);The Sell Curve cannot drop further down once it meets the actual price line, but it can resume dropping once the actual price line moves downward (so there is room from the Sell Curve to drop further). When resuming dropping down, the Sell Curve must drop from its previous value. If plotted, the Sell Curve seems like it’s been cut into pieces and has been partially shifted to the right along the x-axis. The same rule applies to the Buy Curve as well, but in the opposite direction (rule#5);The converging of the Sell Curve and the Buy Curve marks the end of the auction. If the actual price line has never fallen in between the price curves, the auction will not settle and all tokens will be returned to participants; otherwise, the actual price line will certainly converge with the two price curves, and the settlement occurs. (rule#6);An Oedax auction that ends and settles at time 50 and price 3.0 — the horizontal gray lines represent the actual prices at different moments.A well-designed Oedax auction should have the actual price line be inside the Buy and Sell Curves before or immediately after the start of the auction to make sure it settles. This will boost user participation. The final settlement price is irrelevant of target price but is supposed to be close to it.PhasesOedax auctions only settle if the actual price falls in between the two bonding curves and the actual price line at time T’, we call the phase from time 0 to T’ phase-1. Phase-1 has the most uncertainties for participants and should be minimized if possible. T’ marks the start of phase-2, which has fewer uncertainties and guarantees the auction will settle.We can introduce another parameter N, and once the gap between the two price curves is smaller than or equal to N*P we enter phase-3. The other way to define phase-3 is to use time elapsed with respect to T as a measure, e.g., after 0.75T we enter phase-3. Phase-3 represents a period where participation in the auction is the least risky and the buy-sell price gap is small enough.It is certainly possible to define more phases or introduce further finer granularity for classifying auction participation. The general idea is to encourage and reward early participation which is critical for creating more liquidity, and charge fees for later participation. Conceptually, we can treat early participation as market makers and later participation as takers.Participation and CancellationIn phase-1, participants can deposit any amount of TokenA or TokenB into the auction without restrictions. If withdrawal is permitted, participants can also withdraw any amount of tokens.After phase-1 and before an auction ends, participants can still deposit more TokenA or TokenB in the auction, or withdraw from it, but there are limits on the amounts to assure BC(t) ≤ p(t) ≤ SC(t) always hold. Those limits are:The deposit limit for TokenA is Qb(t)/BC(t) — Qs(t)The deposit limit for TokenB is Qs(t)*SC(t) — Qb(t)The withdrawal limit for TokenA is Qs(t) - Qb(t)/SC(t)The withdrawal limit for TokenB is Qb(t) - Qs(t)*BC(t)To facilitate later participation in large sizes, Oedax can queue the amount beyond the current deposit limit in a waiting list, and when there is a counter-party beyond-limit deposit, Oedax will accept deposits from both buy and sell side to end up with at most one waiting list for either the sell or the buy side. The waiting list will automatically expire at the end of the auction.To discourage withdrawal, a fee may apply. An Oedax auction can be configured with withdrawal disabled.CurvesThe two price curves can be defined independently, e.g, one curve can be a straight line and the other curve can be polynomial. But since these two inner auctions are happening in parallel, it may be more reasonable to design the Buy Curve and Sell Curve in such a way that the sell-price and the buy-price develop with the same velocity. We can achieve this by binding SC and BC using:BC(t)*SC(t) == P*P (rule#7)With this binding, only one of the two curves needs to be defined to derive the other one.With this rule enforced, the curves for a TokenA/TokenB Oedax and curves for a TokenB/TokenA Oedax take the same shape. In other words, this rule makes Oedax token-symmetrical — an ABC/XYZ auction is the same as an XYZ/ABC auction. [1][1] The Loopring protocol also adapts such a similiar token-symmetrical data modeling approach — a ABC/XYZ sell order is an XYZ/ABC buy order. In our previous posts, we referred it as “unidirectional order modeling”.Oedax FeaturesOedax trading model has the following advantages:It does not rely on other types of trading platforms for price discovery or adjustment.It allows both sellers and buyers to participate in an auction after the auction starts. Oedax can even allow conditional withdrawal before the auction ends.It is possible to accept pre-submitted limit price orders and convert them into Oedax participation once the auction’s price range satisfy the order’s requirements.Oedax auction’s final settlement volume is not restricted by the initial deposit of either token and can potentially be much larger than a Dutch auction. Oedax is suited for large trades and is market-making friendly.Oedax inevitably inherits some shortcomings that Dutch Auctions have, including:The trading is not instantaneous, it takes time to end the auction;The settlement price will be reasonable (close to market price) only when the auction attracts high awareness and has enough participants.Rolling OedaxFor each trading pair, it is possible to create a series of Oedax auctions with shared parameters and a constant inter-auction delay. Once an auction ends, a new auction is automatically started[2] with a target price equal to the last settlement price. We can call such a series of Oedax auctions a “Rolling Oedax”. With enough participants, a Rolling Oedax will keep running and provide much larger trading capability than a standalone Oedax.[2]: In practice, auctions must be triggered by a user action to kick off.To participate in such a rolling auction, a user will need to participate in the earliest running Oedax auction of a series, and if the size of his/her deposit is beyond the earliest auction’s deposit limit, the remaining deposit will participate in the second-earliest auction, … If the user’s deposit is beyond the limit of all running auctions combined, the remaining deposit can be put into a waiting list which is shared by all outstanding Oedax auctions. When a new auction starts, the waiting list will be removed and all outstanding deposits in the waiting list will be converted to the initial deposits for the new auction.It is also possible to treat more recent auctions as special waiting lists for older running auctions if withdrawal is enabled, which is likely to increase the trading volume of the oldest auction yet to settle. Otherwise, settlement across multiple auctions will even out the average price of each participation (order) over a designated period of time.Rolling Oedax enables DEXs to facilitate market-price based peer-to-peer trading and guarantees that such orders will be traded with the least risky counterparties first at reasonable prices without using any price oracle.Use Oedax in LoopringOedax will be used by Loopring 2.x to achieve “Fee Burning”, a unique token economic feature that enables Loopring relayers to accept any ERC20 tokens as fees, and to pay the protocol smart contract a small percentage of the fees called the burn.Anonymous users will be able to trigger the burn to be auctioned off for LRC token in Oedax auctions, and the purchased LRC will be sent to address 0x0 automatically (our planned LRC ERC20 upgrade will treat this as a special destructive operation and reduce the total LRC supply). Oedax will automate the fee burning process in a trustless and decentralized fashion, which is an essential part of Loopring’s governance objective.The fees collected by Oedax auctions will also be auctioned off for LRC, to burn.Development & LEAF GrantOur goal is to develop Oedax as a permissionless and fully decentralized way of trading tokens. It means everybody can create auctions for all existing and future tokens at any time in arbitrary sizes — there will be no token or participant whitelist of any kind.We plan to open-source the Oedax smart contract repository on GitHub once we get ready for the initial deployment on Ethereum mainnet. In the meanwhile, if you are interested in co-developing Oedax on Ethereum or lead the effort to make it work on other platforms, please let us know. We are setting up an LRC Grant from the Loopring Ecosystem Advancement Fund (LEAF) to incentivize quality work.In the near future, we will add Oedax UI in UpWallet.We would love to hear from you. If you do feel like sharing your thoughts, please send us an email to foundation@loopring.org.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Oedax: Loopring’s Open-Ended Dutch Auction Exchange Model was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 09

Oedax: Loopring’s Open-End ...

Oedax: Loopring’s Open-End Dutch Auction Exchange ModelWe introduce an enhanced Dutch Auction-based exchange model, Oedax, that allows both buyers and sellers to participate after an auction starts. In this post, we outline the design of such an exchange model and analyze some of its properties.Dutch AuctionIn a Dutch Auction, a fixed amount of an asset is put into the auction for sale. The initial ask price starts (much) higher than any open market prices and decreases gradually to zero, according to some pre-specified function. The dutch auction ends if and only if the actual price, calculated by dividing the accumulated money (sent by the bidders) by the number of assets (being sold by sellers), equals the ask-price at a given moment.Dutch Auctions have some desirable properties. First of all, auctions always settle, guaranteed. Secondly, all participants in the same auction get the same price for settlement, regardless when they participate in the auction and the size of their contributions. This property avoids front-running issues that most order-based exchange models suffer. This same-settlement price property, however, does have a drawback as well — participants tend to withhold until a later time to participate when the ask-price becomes more reasonable instead of during the early phase of the auction.Dutch Auction is an excellent means of price discovery, especially in a decentralized environment powered by blockchain technology. Specifically, the settlement prices in Dutch Auction can act as decentralized price oracles for smart contracts — assuming the auctions are well known and there are enough participants.The original Dutch Auction model is designed for one-way asset offering and does not allow additions of assets being sold once the auctions start. We propose an enhanced version called Open-end Dutch Auction Exchange, or Oedax, which is more like a bi-directional exchange instead of a one-way auction.Introducing OedaxWe designed Oedax to facilitate two groups of people, sellers and buyers, to exchange assets, especially cryptocurrencies or crypto tokens. Therefore, in this post, we use crypto tokens as examples for easier description, but Oedax is truly generic and can be applied to the exchange of other types of assets.Suppose sellers want to sell TokenA for TokenB, and buyers want to buy TokenA with TokenB. Oedax allows sellers to auction off TokenA to buyers for TokenB, and in the meanwhile and the very same auction, allows buyers to auction off TokenB to sellers for TokenA. Therefore an Oedax auction can be perceived as two internal-auctions seemingly integrated with shared parameters.We further suppose that the fair market price for TokenA, with respect to TokenB, is P; and the initial sell-price of TokenA in an Oedax auction is M*P where M > 1 — we call P the target price and M the price scale factor. The duration of the Oedax auction is T, which is the expected time the auction will end if no one ever participated in the auction.Then we specify two price curves, one for the selling of TokenA, i.e, the Sell Curve (or SC), and one for the buying of TokenA, i.e, the Buy Curve (or BC). These two curves are designed to satisfy the following requirements:SC(0) == P*M && SC(T) == P/M (rule#1);BC(0) == P/M && BC(T) == P*M (rule#2);There exists a time t, t ≤ T, such that SC(t) == BC(t) == P (rule#3).We further assume the amount of TokenA in the auction at any time t is Qs(t), and the amount of TokenB at any time t is Qb(t). Then a horizontal line representing the actual price p(t) = Qb(t)/Qs(t) can be drawn. We call this horizontal line the actual price line, or APL. Note that APL moves upward if more TokenB participates in the auction and downward if more TokenA participates in the auction.Price Curves (red: Sell Curve, green: Buy Curve) with T = 40, P = 2.0, M = 4.0Price Bonding and SettlementAn Oedax auction can start with zero TokenA and/or TokenB deposit, i.e, Qb(0) == Qs(0) == 0. As time passes, participants can deposit either TokenA or TokenB to change the actual price p. But Oedax applies some important price bonding rules:Once the actual price p falls in between SC and BC curves at time T’, it should always stay in between the curves to make BC(t) ≤ p(t) ≤ SC(t) hold for any t ≥ T’ until the auction ends (rule#4);The Sell Curve cannot drop further down once it meets the actual price line, but it can resume dropping once the actual price line moves downward (so there is room from the Sell Curve to drop further). When resuming dropping down, the Sell Curve must drop from its previous value. If plotted, the Sell Curve seems like it’s been cut into pieces and has been partially shifted to the right along the x-axis. The same rule applies to the Buy Curve as well, but in the opposite direction (rule#5);The converging of the Sell Curve and the Buy Curve marks the end of the auction. If the actual price line has never fallen in between the price curves, the auction will not settle and all tokens will be returned to participants; otherwise, the actual price line will certainly converge with the two price curves, and the settlement occurs. (rule#6);An Oedax auction that ends and settles at time 50 and price 3.0 — the horizontal gray lines represent the actual prices at different moments.A well-designed Oedax auction should have the actual price line be inside the Buy and Sell Curves before or immediately after the start of the auction to make sure it settles. This will boost user participation. The final settlement price is irrelevant of target price but is supposed to be close to it.PhasesOedax auctions only settle if the actual price falls in between the two bonding curves and the actual price line at time T’, we call the phase from time 0 to T’ phase-1. Phase-1 has the most uncertainties for participants and should be minimized if possible. T’ marks the start of phase-2, which has fewer uncertainties and guarantees the auction will settle.We can introduce another parameter N, and once the gap between the two price curves is smaller than or equal to N*P we enter phase-3. The other way to define phase-3 is to use time elapsed with respect to T as a measure, e.g., after 0.75T we enter phase-3. Phase-3 represents a period where participation in the auction is the least risky and the buy-sell price gap is small enough.It is certainly possible to define more phases or introduce further finer granularity for classifying auction participation. The general idea is to encourage and reward early participation which is critical for creating more liquidity, and charge fees for later participation. Conceptually, we can treat early participation as market makers and recent participation as takers.Participation and CancellationIn phase-1, participants can deposit any amount of TokenA or TokenB into the auction without restrictions. If withdrawal is permitted, participants can also withdraw any amount of tokens.After phase-1 and before an auction ends, participants can still deposit more TokenA or TokenB in the auction, or withdraw from it, but there are limits on the amounts to assure BC(t) ≤ p(t) ≤ SC(t) always hold. Those limits are:The deposit limit for TokenA is Qb(t)/BC(t) — Qs(t)The deposit limit for TokenB is Qs(t)*SC(t) — Qb(t)The withdrawal limit for TokenA is Qs(t) - Qb(t)/SC(t)The withdrawal limit for TokenB is Qb(t) - Qs(t)*BC(t)To facilitate later participation in large sizes, Oedax can queue the amount beyond the current deposit limit in a waiting list, and when there is a counter-party beyond-limit deposit, Oedax will accept deposits from both buy and sell side to end up with at most one waiting list for either the sell or the buy side. The waiting list will automatically expire at the end of the auction.To discourage withdrawal, a fee may apply. An Oedax auction can be configured with withdrawal disabled.CurvesThe two price curves can be defined independently, e.g, one curve can be a straight line and the other curve can be polynomial. But since these two inner auctions are happening in parallel, it may be more reasonable to design the Buy Curve and Sell Curve in such a way that the sell-price and the buy-price develop with the same velocity. We can achieve this by binding SC and BC using:BC(t)*SC(t) == P*P (rule#7)With this binding, only one of the two curves needs to be defined to derive the other one.With this rule enforced, the curves for a TokenA/TokenB Oedax and curves for a TokenB/TokenA Oedax take the same shape. In other words, this rule makes Oedax token-symmetrical — an ABC/XYZ auction is the same as an XYZ/ABC auction. [1][1] The Loopring protocol also adapts such a similiar token-symmetrical data modeling approach — a ABC/XYZ sell order is an XYZ/ABC buy order. In our precious posts, we referred it as “unidirectional order modeling”.Oedax FeaturesOedax trading model has the following advantages:It does not rely on other types of trading platforms for price discovery or adjustment.It allows both sellers and buyers to participate in an auction after the auction starts. Oedax can even allow conditional withdrawal before the auction ends.It is possible to accept pre-submitted limit price orders and convert them into Oedax participation once the auction’s price range satisfy the order’s requirements.Oedax auction’s final settlement volume is not restricted by the initial deposit of either token and can potentially be much larger than a Dutch auction. Oedax is suited for large trades and is market-making friendly.Oedax inevitably inherits some shortcomings that Dutch Auctions have, including:The trading is not instantaneous, it takes time to end the auction;The settlement price is reasonable (close to market price) only when the auction is well aware of and has enough participants.Rolling OedaxFor each trading pair, it is possible to create a serial of Oedax auctions with shared parameters and a constant inter-auction delay. Once an auction ends, a new auction is automatically started[2] with a target price equal to the last settlement price. We can call such a serial of Oedax auctions a “Rolling Oedax”. With enough participants, a Rolling Oedax will keep running and provide much larger trading capability than a standalone Oedax.[2]: Practically auctions must be triggered by a user action to kick off.To participate in such a rolling auction, a user will need to participate in the earliest running Oedax auction of such a serial, if the size of his/her deposit is beyond the earliest auction’s deposit limit, the remaining deposit will participate in the second-earliest auction, … If the user’s deposit is beyond the limit of all running auctions combined, the remaining deposit can be put into a waiting list which is shared by all outstanding Oedax auctions. When a new auction starts, the waiting list will be removed and all outstanding deposits in the waiting list will be converted to the initial deposits for the new auction.It is also possible to treat more recent auctions as special waiting lists for older running auctions if withdrawal is enabled, which is likely to increase the trading volume of the oldest auction yet to settle. Otherwise, settlement across multiple auctions will even out the average price of each participation (order) over a designated period of time.Rolling Oedax enables DEXs to facilitate market-price based peer-to-peer trading and guarantees that such orders will be traded with the least risky counterparties first at reasonable prices without using any price oracle.Use Oedax in LoopringOedax will be used by Loopring 2.x to achieve “Fee Burning”, a unique token economic feature that enables Loopring relayers to accept any ERC20 tokens as fees, and to pay the protocol smart contract a small percentage of the fees called the burn.Anonymous users will be able to trigger the burn to be auctioned off for LRC token in Oedax auctions, and the purchased LRC will be sent to address 0x0 automatically (our planned LRC ERC20 upgrade will treat this as a special destructive operation and reduce the total LRC supply). Oedax will automate the fee burning process in a trustless and decentralized fashion, which is an essential part of Loopring’s governance objective.The fees collected by Oedax auctions will also be auctioned off for LRC, to burn.Development & LEAF GrantOur goal is to develop Oedax as a permissionless and fully decentralized way of trading tokens. It means everybody can create auctions for all existing and future tokens at any time in arbitrary sizes — there will be no token or participant whitelist of any kind.We plan to open-source the Oedax smart Ccontract repository on GitHub once we get ready for the initial deployment on Ethereum mainnet. In the meanwhile, if you are interested in co-developing Oedax on Ethereum or lead the effort to make it work on other platforms, please let us know. We are setting up an LRC Grant from the Loopring Ecosystem Advancement Fund (LEAF) to incentivize quality work.In the near future, we will add Oedax UI in UpWallet.We would love to hear from you. If you do feel like sharing your thoughts, please send us an email to foundation@loopring.org.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Oedax: Loopring’s Open-Ended Dutch Auction Exchange Model was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 09

Oedax: Loopring’s Open-End ...

Oedax: Loopring’s Open-End Dutch Auction Exchange ModelWe introduce an enhanced Dutch Auction-based exchange model, Oedax, that allows both buyers and sellers to participate after an auction starts. In this post, we outline the design of such an exchange model and analyze some of its properties.Dutch AuctionIn a Dutch Auction, a fixed amount of an asset is put into the auction for sale. The initial ask price starts (much) higher than any open market prices and decreases gradually to zero, according to some pre-specified function. The dutch auction ends if and only if the actual price, calculated by dividing the accumulated money (sent by the bidders) by the number of assets (being sold by sellers), equals the ask-price at a given moment.Dutch Auctions have some desirable properties. First of all, auctions always settle, guaranteed. Secondly, all participants in the same auction get the same price for settlement, regardless when they participate in the auction and the size of their contributions. This property avoids front-running issues that most order-based exchange models suffer. This same-settlement price property, however, does have a drawback as well — participants tend to withhold until a later time to participate when the ask-price becomes more reasonable instead of during the early phase of the auction.Dutch Auction is an excellent means of price discovery, especially in a decentralized environment powered by blockchain technology. Specifically, the settlement prices in Dutch Auction can act as decentralized price oracles for smart contracts — assuming the auctions are well known and there are enough participants.The original Dutch Auction model is designed for one-way asset offering and does not allow additions of assets being sold once the auctions start. We propose an enhanced version called Open-end Dutch Auction Exchange, or Oedax, which is more like a bi-directional exchange instead of a one-way auction.Introducing OedaxWe designed Oedax to facilitate two groups of people, sellers and buyers, to exchange assets, especially cryptocurrencies or crypto tokens. Therefore, in this post, we use crypto tokens as examples for easier description, but Oedax is truly generic and can be applied to the exchange of other types of assets.Suppose sellers want to sell TokenA for TokenB, and buyers want to buy TokenA with TokenB. Oedax allows sellers to auction off TokenA to buyers for TokenB, and in the meanwhile and the very same auction, allows buyers to auction off TokenB to sellers for TokenA. Therefore an Oedax auction can be perceived as two internal-auctions seemingly integrated with shared parameters.We further suppose that the fair market price for TokenA, with respect to TokenB, is P; and the initial sell-price of TokenA in an Oedax auction is M*P where M > 1 — we call P the target price and M the price scale factor. The duration of the Oedax auction is T, which is the expected time the auction will end if no one ever participated in the auction.Then we specify two price curves, one for the selling of TokenA, i.e, the Sell Curve (or SC), and one for the buying of TokenA, i.e, the Buy Curve (or BC). These two curves are designed to satisfy the following requirements:SC(0) == P*M && SC(T) == P/M (rule#1);BC(0) == P/M && BC(T) == P*M (rule#2);There exists a time t, t ≤ T, such that SC(t) == BC(t) == P (rule#3).We further assume the amount of TokenA in the auction at any time t is Qs(t), and the amount of TokenB at any time t is Qb(t). Then a horizontal line representing the actual price p(t) = Qb(t)/Qs(t) can be drawn. We call this horizontal line the actual price line, or APL. Note that APL moves upward if more TokenB participates in the auction and downward if more TokenA participates in the auction.Price Curves (red: Sell Curve, green: Buy Curve) with T = 40, P = 2.0, M = 4.0Price Bonding and SettlementAn Oedax auction can start with zero TokenA and/or TokenB deposit, i.e, Qb(0) == Qs(0) == 0. As time passes, participants can deposit either TokenA or TokenB to change the actual price p. But Oedax applies some important price bonding rules:Once the actual price p falls in between SC and BC curves at time T’, it should always stay in between the curves to make BC(t) ≤ p(t) ≤ SC(t) hold for any t ≥ T’ until the auction ends (rule#4);The Sell Curve cannot drop further down once it meets the actual price line, but it can resume dropping once the actual price line moves downward (so there is room from the Sell Curve to drop further). When resuming dropping down, the Sell Curve must drop from its previous value. If plotted, the Sell Curve seems like it’s been cut into pieces and has been partially shifted to the right along the x-axis. The same rule applies to the Buy Curve as well, but in the opposite direction (rule#5);The converging of the Sell Curve and the Buy Curve marks the end of the auction. If the actual price line has never fallen in between the price curves, the auction will not settle and all tokens will be returned to participants; otherwise, the actual price line will certainly converge with the two price curves, and the settlement occurs. (rule#6);An Oedax auction that ends and settles at time 50 and price 3.0 — the horizontal gray lines represent the actual prices at different moments.A well-designed Oedax auction should have the actual price line be inside the Buy and Sell Curves before or immediately after the start of the auction to make sure it settles. This will boost user participation. The final settlement price is irrelevant of target price but is supposed to be close to it.PhasesOedax auctions only settle if the actual price falls in between the two bonding curves and the actual price line at time T’, we call the phase from time 0 to T’ phase-1. Phase-1 has the most uncertainties for participants and should be minimized if possible. T’ marks the start of phase-2, which has fewer uncertainties and guarantees the auction will settle.We can introduce another parameter N, and once the gap between the two price curves is smaller than or equal to N*P we enter phase-3. The other way to define phase-3 is to use time elapsed with respect to T as a measure, e.g., after 0.75T we enter phase-3. Phase-3 represents a period where participation in the auction is the least risky and the buy-sell price gap is small enough.It is certainly possible to define more phases or introduce further finer granularity for classifying auction participation. The general idea is to encourage and reward early participation which is critical for creating more liquidity, and charge fees for later participation. Conceptually, we can treat early participation as market makers and later participation as takers.Participation and CancellationIn phase-1, participants can deposit any amount of TokenA or TokenB into the auction without restrictions. If withdrawal is permitted, participants can also withdraw any amount of tokens.After phase-1 and before an auction ends, participants can still deposit more TokenA or TokenB in the auction, or withdraw from it, but there are limits on the amounts to assure BC(t) ≤ p(t) ≤ SC(t) always hold. Those limits are:The deposit limit for TokenA is Qb(t)/BC(t) — Qs(t)The deposit limit for TokenB is Qs(t)*SC(t) — Qb(t)The withdrawal limit for TokenA is Qs(t) - Qb(t)/SC(t)The withdrawal limit for TokenB is Qb(t) - Qs(t)*BC(t)To facilitate later participation in large sizes, Oedax can queue the amount beyond the current deposit limit in a waiting list, and when there is a counter-party beyond-limit deposit, Oedax will accept deposits from both buy and sell side to end up with at most one waiting list for either the sell or the buy side. The waiting list will automatically expire at the end of the auction.To discourage withdrawal, a fee may apply. An Oedax auction can be configured with withdrawal disabled.CurvesThe two price curves can be defined independently, e.g, one curve can be a straight line and the other curve can be polynomial. But since these two inner auctions are happening in parallel, it may be more reasonable to design the Buy Curve and Sell Curve in such a way that the sell-price and the buy-price develop with the same velocity. We can achieve this by binding SC and BC using:BC(t)*SC(t) == P*P (rule#7)With this binding, only one of the two curves needs to be defined to derive the other one.With this rule enforced, the curves for a TokenA/TokenB Oedax and curves for a TokenB/TokenA Oedax take the same shape. In other words, this rule makes Oedax token-symmetrical — an ABC/XYZ auction is the same as an XYZ/ABC auction. [1][1] The Loopring protocol also adapts such a similiar token-symmetrical data modeling approach — a ABC/XYZ sell order is an XYZ/ABC buy order. In our previous posts, we referred it as “unidirectional order modeling”.Oedax FeaturesOedax trading model has the following advantages:It does not rely on other types of trading platforms for price discovery or adjustment.It allows both sellers and buyers to participate in an auction after the auction starts. Oedax can even allow conditional withdrawal before the auction ends.It is possible to accept pre-submitted limit price orders and convert them into Oedax participation once the auction’s price range satisfy the order’s requirements.Oedax auction’s final settlement volume is not restricted by the initial deposit of either token and can potentially be much larger than a Dutch auction. Oedax is suited for large trades and is market-making friendly.Oedax inevitably inherits some shortcomings that Dutch Auctions have, including:The trading is not instantaneous, it takes time to end the auction;The settlement price will be reasonable (close to market price) only when the auction attracts high awareness and has enough participants.Rolling OedaxFor each trading pair, it is possible to create a series of Oedax auctions with shared parameters and a constant inter-auction delay. Once an auction ends, a new auction is automatically started[2] with a target price equal to the last settlement price. We can call such a series of Oedax auctions a “Rolling Oedax”. With enough participants, a Rolling Oedax will keep running and provide much larger trading capability than a standalone Oedax.[2]: In practice, auctions must be triggered by a user action to kick off.To participate in such a rolling auction, a user will need to participate in the earliest running Oedax auction of a series, and if the size of his/her deposit is beyond the earliest auction’s deposit limit, the remaining deposit will participate in the second-earliest auction, … If the user’s deposit is beyond the limit of all running auctions combined, the remaining deposit can be put into a waiting list which is shared by all outstanding Oedax auctions. When a new auction starts, the waiting list will be removed and all outstanding deposits in the waiting list will be converted to the initial deposits for the new auction.It is also possible to treat more recent auctions as special waiting lists for older running auctions if withdrawal is enabled, which is likely to increase the trading volume of the oldest auction yet to settle. Otherwise, settlement across multiple auctions will even out the average price of each participation (order) over a designated period of time.Rolling Oedax enables DEXs to facilitate market-price based peer-to-peer trading and guarantees that such orders will be traded with the least risky counterparties first at reasonable prices without using any price oracle.Use Oedax in LoopringOedax will be used by Loopring 2.x to achieve “Fee Burning”, a unique token economic feature that enables Loopring relayers to accept any ERC20 tokens as fees, and to pay the protocol smart contract a small percentage of the fees called the burn.Anonymous users will be able to trigger the burn to be auctioned off for LRC token in Oedax auctions, and the purchased LRC will be sent to address 0x0 automatically (our planned LRC ERC20 upgrade will treat this as a special destructive operation and reduce the total LRC supply). Oedax will automate the fee burning process in a trustless and decentralized fashion, which is an essential part of Loopring’s governance objective.The fees collected by Oedax auctions will also be auctioned off for LRC, to burn.Development & LEAF GrantOur goal is to develop Oedax as a permissionless and fully decentralized way of trading tokens. It means everybody can create auctions for all existing and future tokens at any time in arbitrary sizes — there will be no token or participant whitelist of any kind.We plan to open-source the Oedax smart contract repository on GitHub once we get ready for the initial deployment on Ethereum mainnet. In the meanwhile, if you are interested in co-developing Oedax on Ethereum or lead the effort to make it work on other platforms, please let us know. We are setting up an LRC Grant from the Loopring Ecosystem Advancement Fund (LEAF) to incentivize quality work.In the near future, we will add Oedax UI in UpWallet.We would love to hear from you. If you do feel like sharing your thoughts, please send us an email to foundation@loopring.org.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Oedax: Loopring’s Open-Ended Dutch Auction Exchange Model was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 09

Scheduled LRC Token Contra ...

TL;DRWe have scheduled an upgrade for the LRC token smart contract on May 8th, 2019 [00:00 to 24:00 Beijing time]. This will allow it to reflect the reduced LRC total supply in real-time as LRC tokens are burned by our new fee model introduced in Loopring Protocol 2.0.All LRC tokens held in account addresses will be programmatically mapped out; LRC held in contract addresses, including multisig addresses, will be taken care of case-by-case, but in the worst case scenario, will NOT be mapped out at all. See further below for more details.[Note: “Account addresses” are regular, non-contract addresses, sometimes referred to as ‘externally owned addresses’. “Contract addresses” are smart contracts.]We have notified as many exchanges and wallets as we can over the past two weeks. The following companies/products have confirmed support for our upgrade:https://medium.com/media/051b8ef4846f878b3c17f8dd587cb6a0/hrefIf you (as a user) hold LRC on an exchange that’s not on the list, please reach out to them to learn if they will support the upgrade or refer them to this post. If they won’t, you need to withdraw LRC to your own wallet.The current (old) LRC token’s smart contract address is 0xef68e7c694f40c8202821edf525de3782458639f(ENS:lrctoken.eth). The new LRC token will remain a verified ERC20-compliant token and its address will be announced before the upgrade in a separate post. After the upgrade, we will alter lrctoken.eth to point to the new address.Why we’re doing this (A quick recap of Loopring 2.0 fee model)At the end of 2018, we deployed Loopring Protocol 2.0 on Ethereum main net. Among the new features — such as greater settlement efficiency, more order types, more signature types, etc., — is the new fee model.The new fee model allows traders to pay fees in any ERC20 token: the token they’re buying, the token they’re selling, or some third token not involved in the trade at all.For example: I place an order to sell 1 WETH for 150 DAI. I can pay my trading fees to the DEX I’m trading on (e.g. Dolomite) from the sell token (WETH), from the buy token (DAI), or from my ‘bag’ of ZRX sitting on the sidelines.Importantly, though, it is also up to the DEX operator(s) to choose which tokens they would accept as fees, and thus allow their users to choose from. So, if a DEX doesn’t feel comfortable accepting fees in RandomCoinX (because they’ve never heard of it and it has no liquidity), then that is off limits.Loopring’s fee model is about flexibility for all parties involved.LRC, Loopring’s protocol token, fits into the equation without causing any friction, but while still offering benefits to traders and DEX operators, and while still coordinating the network and allowing for future growth and development.On each fee payment, there is a small piece of the fee that gets “taxed” and goes into a holding smart contract called Fee Holder.This smart contract will end up holding an assortment of different ERC20 tokens.These assorted ERC20 tokens will be auctioned off (sold) for LRC.The LRC that is purchased in these auctions will be burnt.To enable this new fee element, Burn Manager, the LRC token contract needs a new function: Burn.Logistical details about the LRC token contract upgradeSo, all of this means exciting things for Loopring — and a deflationary LRC — but it also means we must upgrade the LRC Token Contract.We have already communicated with many partners and supporting infrastructure such as exchanges, wallets, and dApps, about the upgrade. During the upgrade period, it is necessary for many of them to suspend the deposit and withdrawal of LRC and release relevant announcements. Your favorite exchanges and apps will do what’s necessary. More than likely, it means you can just sit back, but please stay tuned for their announcements like you usually would.For normal users, we ask you to please remove any LRC you may be holding in smart contracts, and hold the LRC in your non-multisig wallet of choice. This means it is best for you to hold LRC on a normal Ethereum address, the likes of which can be accessed by Metamask, MEW, MyCrypto, Ledger, Trezor, etc. Basically, during the upgrade, it’s best to keep your LRC on an Ethereum address that you yourself hold the private keys to — no matter how you hold those keys. Your existing LRC tokens will automatically transfer over to the new LRC.The Loopring Long Term Incentive Program (LTIP) is an exception to the above — given this is something we deployed, we will do the work to map out the balances and awards in a new smart contract (LTIP2) for each user. We guarantee if you withdraw LRC before the upgrade, you will receive the same amount of new LRC; otherwise, you will be able to withdraw the same amount of new LRC from LTIP2. So it is effectively a non-factor.Reach out if any questionsIf you’re an exchange, wallet, Ethereum block explorer, or any other (d)application that supports LRC, first of all, thank you :); second of all, if you haven’t received communication from us, please reach out at foundation@loopring.org.For users, please feel free to contact us if you have any questions or concerns at all. The upgrade is two months away, and we will remind the Loopring community as the date approaches.We eagerly look forward to this small step on Loopring’s path to underpin the trustless token trading systems of the future!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Scheduled LRC Token Contract Upgrade on May 8th, 2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 06

Scheduled LRC Token Contra ...

TL;DRWe have scheduled an upgrade for the LRC token smart contract on May 8th, 2019 [00:00 to 24:00 Beijing time]. This will allow it to reflect the reduced LRC total supply in real-time as LRC tokens are burned by our new fee model introduced in Loopring Protocol 2.0.All LRC tokens held in account addresses will be programmatically mapped out; LRC held in contract addresses, including multisig addresses, will be taken care of case-by-case, but in the worst case scenario, will NOT be mapped out at all. See further below for more details.[Note: “Account addresses” are regular, non-contract addresses, sometimes referred to as ‘externally owned addresses’. “Contract addresses” are smart contracts.]We have notified as many exchanges and wallets as we can over the past two weeks. The following companies/products have confirmed support for our upgrade:https://medium.com/media/051b8ef4846f878b3c17f8dd587cb6a0/hrefIf you (as a user) hold LRC on an exchange that’s not on the list, please reach out to them to learn if they will support the upgrade or refer them to this post. If they won’t, you need to withdraw LRC to your own wallet.The current (old) LRC token’s smart contract address is 0xef68e7c694f40c8202821edf525de3782458639f(ENS:lrctoken.eth). The new LRC token will remain a verified ERC20-compliant token and its address will be announced before the upgrade in a separate post. After the upgrade, we will alter lrctoken.eth to point to the new address.Why we’re doing this (A quick recap of Loopring 2.0 fee model)At the end of 2018, we deployed Loopring Protocol 2.0 on Ethereum main net. Among the new features — such as greater settlement efficiency, more order types, more signature types, etc., — is the new fee model.The new fee model allows traders to pay fees in any ERC20 token: the token they’re buying, the token they’re selling, or some third token not involved in the trade at all.For example: I place an order to sell 1 WETH for 150 DAI. I can pay my trading fees to the DEX I’m trading on (e.g. Dolomite) from the sell token (WETH), from the buy token (DAI), or from my ‘bag’ of ZRX sitting on the sidelines.Importantly, though, it is also up to the DEX operator(s) to choose which tokens they would accept as fees, and thus allow their users to choose from. So, if a DEX doesn’t feel comfortable accepting fees in RandomCoinX (because they’ve never heard of it and it has no liquidity), then that is off limits.Loopring’s fee model is about flexibility for all parties involved.LRC, Loopring’s protocol token, fits into the equation without causing any friction, but while still offering benefits to traders and DEX operators, and while still coordinating the network and allowing for future growth and development.On each fee payment, there is a small piece of the fee that gets “taxed” and goes into a holding smart contract called Fee Holder.This smart contract will end up holding an assortment of different ERC20 tokens.These assorted ERC20 tokens will be auctioned off (sold) for LRC.The LRC that is purchased in these auctions will be burnt.To enable this new fee element, Burn Manager, the LRC token contract needs a new function: Burn.Logistical details about the LRC token contract upgradeSo, all of this means exciting things for Loopring — and a deflationary LRC — but it also means we must upgrade the LRC Token Contract.We have already communicated with many partners and supporting infrastructure such as exchanges, wallets, and dApps, about the upgrade. During the upgrade period, it is necessary for many of them to suspend the deposit and withdrawal of LRC and release relevant announcements. Your favorite exchanges and apps will do what’s necessary. More than likely, it means you can just sit back, but please stay tuned for their announcements like you usually would.For normal users, we ask you to please remove any LRC you may be holding in smart contracts, and hold the LRC in your non-multisig wallet of choice. This means it is best for you to hold LRC on a normal Ethereum address, the likes of which can be accessed by Metamask, MEW, MyCrypto, Ledger, Trezor, etc. Basically, during the upgrade, it’s best to keep your LRC on an Ethereum address that you yourself hold the private keys to — no matter how you hold those keys. Your existing LRC tokens will automatically transfer over to the new LRC.The Loopring Long Term Incentive Program (LTIP) is an exception to the above — given this is something we deployed, we will do the work to map out the balances and awards in a new smart contract (LTIP2) for each user. We guarantee if you withdraw LRC before the upgrade, you will receive the same amount of new LRC; otherwise, you will be able to withdraw the same amount of new LRC from LTIP2. So it is effectively a non-factor.Reach out if any questionsIf you’re an exchange, wallet, Ethereum block explorer, or any other (d)application that supports LRC, first of all, thank you :); second of all, if you haven’t received communication from us, please reach out at foundation@loopring.org.For users, please feel free to contact us if you have any questions or concerns at all. The upgrade is two months away, and we will remind the Loopring community as the date approaches.We eagerly look forward to this small step on Loopring’s path to underpin the trustless token trading systems of the future!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Scheduled LRC Token Contract Upgrade on May 8th, 2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 06

Scheduled LRC Token Contra ...

TL;DRWe have scheduled an upgrade for the LRC token smart contract on May 8th, 2019 [00:00 to 24:00 Beijing time]. This will allow it to reflect the reduced LRC total supply in real-time as LRC tokens are burned by our new fee model introduced in Loopring Protocol 2.0.All LRC tokens held in account addresses will be programmatically mapped out; LRC held in contract addresses, including multisig addresses, will be taken care of case-by-case, but in the worst case scenario, will NOT be mapped out at all. See further below for more details.[Note: “Account addresses” are regular, non-contract addresses, sometimes referred to as ‘externally owned addresses’. “Contract addresses” are smart contracts.]We have notified as many exchanges and wallets as we can over the past two weeks. The following companies/products have confirmed support for our upgrade:https://medium.com/media/051b8ef4846f878b3c17f8dd587cb6a0/hrefIf you (as a user) hold LRC on an exchange that’s not on the list, please reach out to them to learn if they will support the upgrade or refer them to this post. If they won’t, you need to withdraw LRC to your own wallet.The current (old) LRC token’s smart contract address is 0xef68e7c694f40c8202821edf525de3782458639f(ENS:lrctoken.eth). The new LRC token will remain a verified ERC20-compliant token and its address will be announced before the upgrade in a separate post. After the upgrade, we will alter lrctoken.eth to point to the new address.Why we’re doing this (A quick recap of Loopring 2.0 fee model)At the end of 2018, we deployed Loopring Protocol 2.0 on Ethereum main net. Among the new features — such as greater settlement efficiency, more order types, more signature types, etc., — is the new fee model.The new fee model allows traders to pay fees in any ERC20 token: the token they’re buying, the token they’re selling, or some third token not involved in the trade at all.For example: I place an order to sell 1 WETH for 150 DAI. I can pay my trading fees to the DEX I’m trading on (e.g. Dolomite) from the sell token (WETH), from the buy token (DAI), or from my ‘bag’ of ZRX sitting on the sidelines.Importantly, though, it is also up to the DEX operator(s) to choose which tokens they would accept as fees, and thus allow their users to choose from. So, if a DEX doesn’t feel comfortable accepting fees in RandomCoinX (because they’ve never heard of it and it has no liquidity), then that is off limits.Loopring’s fee model is about flexibility for all parties involved.LRC, Loopring’s protocol token, fits into the equation without causing any friction, but while still offering benefits to traders and DEX operators, and while still coordinating the network and allowing for future growth and development.On each fee payment, there is a small piece of the fee that gets “taxed” and goes into a holding smart contract called Fee Holder.This smart contract will end up holding an assortment of different ERC20 tokens.These assorted ERC20 tokens will be auctioned off (sold) for LRC.The LRC that is purchased in these auctions will be burnt.To enable this new fee element, Burn Manager, the LRC token contract needs a new function: Burn.Logistical details about the LRC token contract upgradeSo, all of this means exciting things for Loopring — and a deflationary LRC — but it also means we must upgrade the LRC Token Contract.We have already communicated with many partners and supporting infrastructure such as exchanges, wallets, and dApps, about the upgrade. During the upgrade period, it is necessary for many of them to suspend the deposit and withdrawal of LRC and release relevant announcements. Your favorite exchanges and apps will do what’s necessary. More than likely, it means you can just sit back, but please stay tuned for their announcements like you usually would.For normal users, we ask you to please remove any LRC you may be holding in smart contracts, and hold the LRC in your non-multisig wallet of choice. This means it is best for you to hold LRC on a normal Ethereum address, the likes of which can be accessed by Metamask, MEW, MyCrypto, Ledger, Trezor, etc. Basically, during the upgrade, it’s best to keep your LRC on an Ethereum address that you yourself hold the private keys to — no matter how you hold those keys. Your existing LRC tokens will automatically transfer over to the new LRC.The Loopring Long Term Incentive Program (LTIP) is an exception to the above — given this is something we deployed, we will do the work to map out the balances and awards in a new smart contract (LTIP2) for each user. We guarantee if you withdraw LRC before the upgrade, you will receive the same amount of new LRC; otherwise, you will be able to withdraw the same amount of new LRC from LTIP2. So it is effectively a non-factor.Reach out if any questionsIf you’re an exchange, wallet, Ethereum block explorer, or any other (d)application that supports LRC, first of all, thank you :); second of all, if you haven’t received communication from us, please reach out at foundation@loopring.org.For users, please feel free to contact us if you have any questions or concerns at all. The upgrade is two months away, and we will remind the Loopring community as the date approaches.We eagerly look forward to this small step on Loopring’s path to underpin the trustless token trading systems of the future!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Scheduled LRC Token Contract Upgrade on May 8th, 2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 06

Loopring & Polymath Comple ...

Polymath, the securities token platform, and Loopring, the decentralized exchange protocol, announce a successful peer-to-peer test trade of ST-20 “security” tokens through Loopring protocol smart contracts.Polymath and Loopring demonstrated that an authorized trade of ST-20 security tokens was able to execute, while an unauthorized trade of ST-20 security tokens was not able to execute.Here, we can see an authorized transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0xfc48d28f50781b9931ee3b7a0682b5fbd58168acda96ef851ff75701d6fdaadb#eventlogAnd here, we can see an unauthorized, failed transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0x802505de2052fcb8766e4218f77a3135ab4984c0923b43c63bdb61d9b8b6a375#eventlogST-20 tokens can only be held and traded if certain criteria are met. To hold ST-20 tokens, wallet addresses must be added to a “whitelist” controlled by the token issuer, and tokens can only be traded if the protocol determines there are no restrictions currently in place (buy or sell lockups, for example). ST-20 security tokens created through Polymath are therefore able to maintain regulatory compliance even when traded peer-to-peer utilizing a decentralized exchange protocol such as Loopring.Additional context and technical details:One of the promises of a tokenized future is the ability for counterparties to connect and efficiently exchange all types of value — such as money, digital resources, and securities. Blockchain-based securities enable a foundational shift in the life-cycle of traditional financial assets, as well as a completely new design space for blockchain-native securities.Of the many benefits tokenization offers, the Loopring team feels that two of the most exciting are:1) Asset Interoperability — assets being able to speak with/flow across the entire Ethereum ecosystem, and2) Programmability — being able to code bespoke securities logic and jurisdictional considerations.Ultimately, these benefits filter down into more liquid markets for issuers and investors.With this in mind, platforms like Polymath aim to enable the creation of trillions of dollars worth of securities on the blockchain, while Loopring seeks to allow these securities to move fluidly in a non-custodial, global, and perfectly auditable manner.ST-20 StandardWhereas utility tokens most often take form as ERC20 compliant tokens, the community has been working towards security token standards built specifically to handle the extra logic and considerations required for securities. The ST-20 standard, which is Polymath’s implementation of ERC1400, The Security Token Standard, is one such example. Loopring also supports ERC1400, the more generalized standard, with an explanation found here.Every time an ST-20 token is traded, certain checks are made to ensure validity. The “Transfer Manager” checks to ensure that the seller (the wallet address sending ST-20 tokens) is able to sell, and the buyer (the wallet address receiving ST-20 tokens) is able to buy. When both those criteria are met, the transfer occurs. If both those criteria are not met, the transfer fails. The Transfer Manager in conjunction with the “whitelist”, which contains Ethereum wallet addresses and information associated with those wallet addresses such as buy and sell lockup restrictions and KYC/AML refresh dates, allow issuers to navigate appropriate regulations.The trading tests conducted by Polymath and Loopring were between Wrapped ETH (WETH) and Cammazol, a token compliant to the ST-20 standard. The trade occurred by accessing the Loopring Protocol 2.1 smart contracts directly. ST-20 is 100% compatible with the Loopring 2.1 smart contracts interface/order data — no need to set the token type, as the smart contract checks if the extra verifyTransfer() function exists. For this test token, there is only a single TransferManager module attached, so the only transfer restrictions are based on whether an address is whitelisted or not. Similar logic is enforced for Loopring ERC1400 support.We performed two trades. In the invalid trade, we detect with verifyTransfer that the destination address isn’t whitelisted, and throw an InvalidRing event without failing the transaction. This means that if there were other rings in the transaction they would still settle.This capability of settling multiple rings per transaction was added in Loopring protocol 2.0. A ring contains 2 to 8 orders which are matched in circular, combinatorial fashion. This allows DEXs to more efficiently match orders, as the protocol can batch all kinds of things like token transfers, state updates, etc. We make sure that all token transfers for a ring will be successful by checking available balances, and also checking with verifyTransfer for ST-20 tokens. If a ring cannot be settled for any reason, we emit an InvalidRing event and skip the ring.Other reasons for a potential Invalid transfer besides addresses not being whitelisted are if the transfer would result in more investors holding the token than is allowed according to the security’s structure.This programmable logic is an important improvement for the current private securities stack, especially as it pertains to secondary trading. With the ST-20 standard, the burden of manually and constantly handling compliance is removed.Looking ForwardWhile the ability to trade security tokens across non-custodial exchanges is exciting, the greatest possibilities may come from those combining Polymath issuance and Loopring trading into one platform or product — a full-suite service capable of handling the entire tokenized securities lifecycle. Decentralized exchanges such as Dolomite may be able to further enhance their trading and portfolio management tools by offering users a security token portal as well — subject to appropriate regulatory licensing.From this portal, asset owners and issuers can compliantly organize, launch, and manage their offerings, while having a built-in venue to engage investors and facilitate trade. Investors, on the other hand, would be able to easily access the extra information surrounding their security tokens, such as any rights or restrictions, and be able to trade directly from their wallet.About PolymathPolymath is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchainAbout LoopringLoopring is a decentralized exchange protocol allowing anyone to build DEXs or otherwise incorporate non-custodial exchange functionality. Orders are communicated off-chain with settlement occurring on-chain. Loopring also enables Matching-as-a-Service between wallets and ring-miners.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring & Polymath Completed ST-20 Security Token Trading Tests was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 04

Loopring & Polymath Comple ...

Polymath, the securities token platform, and Loopring, the decentralized exchange protocol, announce a successful peer-to-peer test trade of ST-20 “security” tokens through Loopring protocol smart contracts.Polymath and Loopring demonstrated that an authorized trade of ST-20 security tokens was able to execute, while an unauthorized trade of ST-20 security tokens was not able to execute.Here, we can see an authorized transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0xfc48d28f50781b9931ee3b7a0682b5fbd58168acda96ef851ff75701d6fdaadb#eventlogAnd here, we can see an unauthorized, failed transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0x802505de2052fcb8766e4218f77a3135ab4984c0923b43c63bdb61d9b8b6a375#eventlogST-20 tokens can only be held and traded if certain criteria are met. To hold ST-20 tokens, wallet addresses must be added to a “whitelist” controlled by the token issuer, and tokens can only be traded if the protocol determines there are no restrictions currently in place (buy or sell lockups, for example). ST-20 security tokens created through Polymath are therefore able to maintain regulatory compliance even when traded peer-to-peer utilizing a decentralized exchange protocol such as Loopring.Additional context and technical details:One of the promises of a tokenized future is the ability for counterparties to connect and efficiently exchange all types of value — such as money, digital resources, and securities. Blockchain-based securities enable a foundational shift in the life-cycle of traditional financial assets, as well as a completely new design space for blockchain-native securities.Of the many benefits tokenization offers, the Loopring team feels that two of the most exciting are:1) Asset Interoperability — assets being able to speak with/flow across the entire Ethereum ecosystem, and2) Programmability — being able to code bespoke securities logic and jurisdictional considerations.Ultimately, these benefits filter down into more liquid markets for issuers and investors.With this in mind, platforms like Polymath aim to enable the creation of trillions of dollars worth of securities on the blockchain, while Loopring seeks to allow these securities to move fluidly in a non-custodial, global, and perfectly auditable manner.ST-20 StandardWhereas utility tokens most often take form as ERC20 compliant tokens, the community has been working towards security token standards built specifically to handle the extra logic and considerations required for securities. The ST-20 standard, which is Polymath’s implementation of ERC1400, The Security Token Standard, is one such example. Loopring also supports ERC1400, the more generalized standard, with an explanation found here.Every time an ST-20 token is traded, certain checks are made to ensure validity. The “Transfer Manager” checks to ensure that the seller (the wallet address sending ST-20 tokens) is able to sell, and the buyer (the wallet address receiving ST-20 tokens) is able to buy. When both those criteria are met, the transfer occurs. If both those criteria are not met, the transfer fails. The Transfer Manager in conjunction with the “whitelist”, which contains Ethereum wallet addresses and information associated with those wallet addresses such as buy and sell lockup restrictions and KYC/AML refresh dates, allow issuers to navigate appropriate regulations.The trading tests conducted by Polymath and Loopring were between Wrapped ETH (WETH) and Cammazol, a token compliant to the ST-20 standard. The trade occurred by accessing the Loopring Protocol 2.1 smart contracts directly. ST-20 is 100% compatible with the Loopring 2.1 smart contracts interface/order data — no need to set the token type, as the smart contract checks if the extra verifyTransfer() function exists. For this test token, there is only a single TransferManager module attached, so the only transfer restrictions are based on whether an address is whitelisted or not. Similar logic is enforced for Loopring ERC1400 support.We performed two trades. In the invalid trade, we detect with verifyTransfer that the destination address isn’t whitelisted, and throw an InvalidRing event without failing the transaction. This means that if there were other rings in the transaction they would still settle.This capability of settling multiple rings per transaction was added in Loopring protocol 2.0. A ring contains 2 to 8 orders which are matched in circular, combinatorial fashion. This allows DEXs to more efficiently match orders, as the protocol can batch all kinds of things like token transfers, state updates, etc. We make sure that all token transfers for a ring will be successful by checking available balances, and also checking with verifyTransfer for ST-20 tokens. If a ring cannot be settled for any reason, we emit an InvalidRing event and skip the ring.Other reasons for a potential Invalid transfer besides addresses not being whitelisted are if the transfer would result in more investors holding the token than is allowed according to the security’s structure.This programmable logic is an important improvement for the current private securities stack, especially as it pertains to secondary trading. With the ST-20 standard, the burden of manually and constantly handling compliance is removed.Looking ForwardWhile the ability to trade security tokens across non-custodial exchanges is exciting, the greatest possibilities may come from those combining Polymath issuance and Loopring trading into one platform or product — a full-suite service capable of handling the entire tokenized securities lifecycle. Decentralized exchanges such as Dolomite may be able to further enhance their trading and portfolio management tools by offering users a security token portal as well — subject to appropriate regulatory licensing.From this portal, asset owners and issuers can compliantly organize, launch, and manage their offerings, while having a built-in venue to engage investors and facilitate trade. Investors, on the other hand, would be able to easily access the extra information surrounding their security tokens, such as any rights or restrictions, and be able to trade directly from their wallet.About PolymathPolymath is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchainAbout LoopringLoopring is a decentralized exchange protocol allowing anyone to build DEXs or otherwise incorporate non-custodial exchange functionality. Orders are communicated off-chain with settlement occurring on-chain. Loopring also enables Matching-as-a-Service between wallets and ring-miners.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring & Polymath Completed ST-20 Security Token Trading Tests was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 04

Loopring & Polymath Comple ...

Polymath, the securities token platform, and Loopring, the decentralized exchange protocol, announce a successful peer-to-peer test trade of ST-20 “security” tokens through Loopring protocol smart contracts.Polymath and Loopring demonstrated that an authorized trade of ST-20 security tokens was able to execute, while an unauthorized trade of ST-20 security tokens was not able to execute.Here, we can see an authorized transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0xfc48d28f50781b9931ee3b7a0682b5fbd58168acda96ef851ff75701d6fdaadb#eventlogAnd here, we can see an unauthorized, failed transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0x802505de2052fcb8766e4218f77a3135ab4984c0923b43c63bdb61d9b8b6a375#eventlogST-20 tokens can only be held and traded if certain criteria are met. To hold ST-20 tokens, wallet addresses must be added to a “whitelist” controlled by the token issuer, and tokens can only be traded if the protocol determines there are no restrictions currently in place (buy or sell lockups, for example). ST-20 security tokens created through Polymath are therefore able to maintain regulatory compliance even when traded peer-to-peer utilizing a decentralized exchange protocol such as Loopring.Additional context and technical details:One of the promises of a tokenized future is the ability for counterparties to connect and efficiently exchange all types of value — such as money, digital resources, and securities. Blockchain-based securities enable a foundational shift in the life-cycle of traditional financial assets, as well as a completely new design space for blockchain-native securities.Of the many benefits tokenization offers, the Loopring team feels that two of the most exciting are:1) Asset Interoperability — assets being able to speak with/flow across the entire Ethereum ecosystem, and2) Programmability — being able to code bespoke securities logic and jurisdictional considerations.Ultimately, these benefits filter down into more liquid markets for issuers and investors.With this in mind, platforms like Polymath aim to enable the creation of trillions of dollars worth of securities on the blockchain, while Loopring seeks to allow these securities to move fluidly in a non-custodial, global, and perfectly auditable manner.ST-20 StandardWhereas utility tokens most often take form as ERC20 compliant tokens, the community has been working towards security token standards built specifically to handle the extra logic and considerations required for securities. The ST-20 standard, which is Polymath’s implementation of ERC1400, The Security Token Standard, is one such example. Loopring also supports ERC1400, the more generalized standard, with an explanation found here.Every time an ST-20 token is traded, certain checks are made to ensure validity. The “Transfer Manager” checks to ensure that the seller (the wallet address sending ST-20 tokens) is able to sell, and the buyer (the wallet address receiving ST-20 tokens) is able to buy. When both those criteria are met, the transfer occurs. If both those criteria are not met, the transfer fails. The Transfer Manager in conjunction with the “whitelist”, which contains Ethereum wallet addresses and information associated with those wallet addresses such as buy and sell lockup restrictions and KYC/AML refresh dates, allow issuers to navigate appropriate regulations.The trading tests conducted by Polymath and Loopring were between Wrapped ETH (WETH) and Cammazol, a token compliant to the ST-20 standard. The trade occurred by accessing the Loopring Protocol 2.1 smart contracts directly. ST-20 is 100% compatible with the Loopring 2.1 smart contracts interface/order data — no need to set the token type, as the smart contract checks if the extra verifyTransfer() function exists. For this test token, there is only a single TransferManager module attached, so the only transfer restrictions are based on whether an address is whitelisted or not. Similar logic is enforced for Loopring ERC1400 support.We performed two trades. In the invalid trade, we detect with verifyTransfer that the destination address isn’t whitelisted, and throw an InvalidRing event without failing the transaction. This means that if there were other rings in the transaction they would still settle.This capability of settling multiple rings per transaction was added in Loopring protocol 2.0. A ring contains 2 to 8 orders which are matched in circular, combinatorial fashion. This allows DEXs to more efficiently match orders, as the protocol can batch all kinds of things like token transfers, state updates, etc. We make sure that all token transfers for a ring will be successful by checking available balances, and also checking with verifyTransfer for ST-20 tokens. If a ring cannot be settled for any reason, we emit an InvalidRing event and skip the ring.Other reasons for a potential Invalid transfer besides addresses not being whitelisted are if the transfer would result in more investors holding the token than is allowed according to the security’s structure.This programmable logic is an important improvement for the current private securities stack, especially as it pertains to secondary trading. With the ST-20 standard, the burden of manually and constantly handling compliance is removed.Looking ForwardWhile the ability to trade security tokens across non-custodial exchanges is exciting, the greatest possibilities may come from those combining Polymath issuance and Loopring trading into one platform or product — a full-suite service capable of handling the entire tokenized securities lifecycle. Decentralized exchanges such as Dolomite may be able to further enhance their trading and portfolio management tools by offering users a security token portal as well — subject to appropriate regulatory licensing.From this portal, asset owners and issuers can compliantly organize, launch, and manage their offerings, while having a built-in venue to engage investors and facilitate trade. Investors, on the other hand, would be able to easily access the extra information surrounding their security tokens, such as any rights or restrictions, and be able to trade directly from their wallet.About PolymathPolymath is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchainAbout LoopringLoopring is a decentralized exchange protocol allowing anyone to build DEXs or otherwise incorporate non-custodial exchange functionality. Orders are communicated off-chain with settlement occurring on-chain. Loopring also enables Matching-as-a-Service between wallets and ring-miners.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring & Polymath Completed ST-20 Security Token Trading Tests was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 04

Loopring & Polymath Comple ...

Polymath, the securities token platform, and Loopring, the decentralized exchange protocol, announce a successful peer-to-peer test trade of ST-20 “security” tokens through Loopring protocol smart contracts.Polymath and Loopring demonstrated that an authorized trade of ST-20 security tokens was able to execute, while an unauthorized trade of ST-20 security tokens was not able to execute.Here, we can see an authorized transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0xfc48d28f50781b9931ee3b7a0682b5fbd58168acda96ef851ff75701d6fdaadb#eventlogAnd here, we can see an unauthorized, failed transfer of the ST-20 token named “Cammazol”: https://etherscan.io/tx/0x802505de2052fcb8766e4218f77a3135ab4984c0923b43c63bdb61d9b8b6a375#eventlogST-20 tokens can only be held and traded if certain criteria are met. To hold ST-20 tokens, wallet addresses must be added to a “whitelist” controlled by the token issuer, and tokens can only be traded if the protocol determines there are no restrictions currently in place (buy or sell lockups, for example). ST-20 security tokens created through Polymath are therefore able to maintain regulatory compliance even when traded peer-to-peer utilizing a decentralized exchange protocol such as Loopring.Additional context and technical details:One of the promises of a tokenized future is the ability for counterparties to connect and efficiently exchange all types of value — such as money, digital resources, and securities. Blockchain-based securities enable a foundational shift in the life-cycle of traditional financial assets, as well as a completely new design space for blockchain-native securities.Of the many benefits tokenization offers, the Loopring team feels that two of the most exciting are:1) Asset Interoperability — assets being able to speak with/flow across the entire Ethereum ecosystem, and2) Programmability — being able to code bespoke securities logic and jurisdictional considerations.Ultimately, these benefits filter down into more liquid markets for issuers and investors.With this in mind, platforms like Polymath aim to enable the creation of trillions of dollars worth of securities on the blockchain, while Loopring seeks to allow these securities to move fluidly in a non-custodial, global, and perfectly auditable manner.ST-20 StandardWhereas utility tokens most often take form as ERC20 compliant tokens, the community has been working towards security token standards built specifically to handle the extra logic and considerations required for securities. The ST-20 standard, which is Polymath’s implementation of ERC1400, The Security Token Standard, is one such example. Loopring also supports ERC1400, the more generalized standard, with an explanation found here.Every time an ST-20 token is traded, certain checks are made to ensure validity. The “Transfer Manager” checks to ensure that the seller (the wallet address sending ST-20 tokens) is able to sell, and the buyer (the wallet address receiving ST-20 tokens) is able to buy. When both those criteria are met, the transfer occurs. If both those criteria are not met, the transfer fails. The Transfer Manager in conjunction with the “whitelist”, which contains Ethereum wallet addresses and information associated with those wallet addresses such as buy and sell lockup restrictions and KYC/AML refresh dates, allow issuers to navigate appropriate regulations.The trading tests conducted by Polymath and Loopring were between Wrapped ETH (WETH) and Cammazol, a token compliant to the ST-20 standard. The trade occurred by accessing the Loopring Protocol 2.1 smart contracts directly. ST-20 is 100% compatible with the Loopring 2.1 smart contracts interface/order data — no need to set the token type, as the smart contract checks if the extra verifyTransfer() function exists. For this test token, there is only a single TransferManager module attached, so the only transfer restrictions are based on whether an address is whitelisted or not. Similar logic is enforced for Loopring ERC1400 support.We performed two trades. In the invalid trade, we detect with verifyTransfer that the destination address isn’t whitelisted, and throw an InvalidRing event without failing the transaction. This means that if there were other rings in the transaction they would still settle.This capability of settling multiple rings per transaction was added in Loopring protocol 2.0. A ring contains 2 to 8 orders which are matched in circular, combinatorial fashion. This allows DEXs to more efficiently match orders, as the protocol can batch all kinds of things like token transfers, state updates, etc. We make sure that all token transfers for a ring will be successful by checking available balances, and also checking with verifyTransfer for ST-20 tokens. If a ring cannot be settled for any reason, we emit an InvalidRing event and skip the ring.Other reasons for a potential Invalid transfer besides addresses not being whitelisted are if the transfer would result in more investors holding the token than is allowed according to the security’s structure.This programmable logic is an important improvement for the current private securities stack, especially as it pertains to secondary trading. With the ST-20 standard, the burden of manually and constantly handling compliance is removed.Looking ForwardWhile the ability to trade security tokens across non-custodial exchanges is exciting, the greatest possibilities may come from those combining Polymath issuance and Loopring trading into one platform or product — a full-suite service capable of handling the entire tokenized securities lifecycle. Decentralized exchanges such as Dolomite may be able to further enhance their trading and portfolio management tools by offering users a security token portal as well — subject to appropriate regulatory licensing.From this portal, asset owners and issuers can compliantly organize, launch, and manage their offerings, while having a built-in venue to engage investors and facilitate trade. Investors, on the other hand, would be able to easily access the extra information surrounding their security tokens, such as any rights or restrictions, and be able to trade directly from their wallet.About PolymathPolymath is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchainAbout LoopringLoopring is a decentralized exchange protocol allowing anyone to build DEXs or otherwise incorporate non-custodial exchange functionality. Orders are communicated off-chain with settlement occurring on-chain. Loopring also enables Matching-as-a-Service between wallets and ring-miners.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring & Polymath Completed ST-20 Security Token Trading Tests was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 04

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 03/02/2019After some time off for the Lunar New Year holiday, the Loopring team returned in full force in mid-February. Now we are back in action and ready to rock. A talented and experienced UI/UX designer has joined us last week. Our global community hosted a few meetups in Australia and North America. We’ve made great Protocol and Relay progress, had a few deep dive interviews, and Polymath successfully trialed peer-to-peer trading of security tokens over the Loopring protocol.Protocol 2.0The Protocol team has been working with the Relay team on integration testing in the past two weeks. We have completed testing for order parameters processing, encoding, and decoding, signing transactions, order matching, and event logs.Having previously implemented support for the ST20 token standard, Polymath’s implementation of the ERC1400 security token standard, we have now successfully completed test trades. Whitelisted addresses were able to settle trades over the Loopring protocol, while non-whitelisted addresses failed. Coindesk writeup here.RelayLightcone (Relay 2.0)We have completed most of the functionalities for Relay 2.0, so we have started reviewing those functionalities and workflows to ensure the quality and the stability of the system.Completed optimizations for wallet account management and updating order status.Implemented processing of Ethereum fork.Implemented web socket API, including monitoring pending trade.Completed logging, deployment and system monitoring.We have also written basic code for integration testing, preparing for more testings in the future.Finally, we are working on refactoring event logs, wallet account activities and others.Frontend & ProductiOS & AndroidWe have released version 1.6.2 and 1.6.3 of both iOS and Android apps. In Android development, we have fixed several bugs and re-launched app on Baidu App Store. In iOS development, we have updated the app enterprise certificates, allowing users to continue using the enterprise iOS app. In addition, we have updated the trade order form to be closer to the UI of centralized exchanges. It makes it easier for new users to learn how to use our apps. At the same time, we have started researching wallet backup methods on third-party cloud platforms. We have investigated Google Drive, iCloud, Dropbox and other cloud platforms. We believe this feature will simplify workflows and we will continue the development.We are happy to welcome a new designer to the team, Dennis Ge. Through our discussion, it’s clear he is super familiar with the main value proposition of our apps and many others in the space. We have been focusing on the core value of wallets, but also on the visual aesthetics and additional, interactive features. We have started designing an exciting new UI. In the next steps, we will present an initial plan, work with the team to make the new design goal and improve the products gradually. He will definitely make a significant contribution and impact on our products.Operations & Marketing02/06/2019 — LRC is listed on Freewallet.02/12/2019 — Loopring published a comprehensive 29-page Stablecoin Report with PwC. Full report here, synopsis here.02/14/2019 — Ethfinex listed LRC on their platform and organized the Loopring AMA on the Ethfinex Telegram.02/15/2019 — Loopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.02/15/2019 — Loopring co-hosts a DEX meetup in Sydney with HaymarketHQ and Next Genius Community to discuss all things DEX, and the Loopring landscape.02/15/2019 — Dolomite Bi-Weekly Update02/19/2019 — Loopring (LRC) is now on ZILLA Wallet. ZILLA makes it easy to get blockchain event tickets with LRC and manage crypto assets all in one App.02/22/2019 — The Loopring Long Term Incentive Program begins the allowed withdrawal phase.02/27/2019 — Loopring BD director, Matthew, is interviewed by Elastum, a gateway to enter the crypto market with fiat, and shares thoughts regarding Loopring’s past, present, and future.02/27/2019 — Loopring continues to work with Polymath to further peer-to-peer trading of security tokens on a decentralized exchange.Coming up this month, you can find Loopring around Hong Kong Blockchain Week, EthCC, ETHParis, and ETHUofT (University of Toronto). Reach out if you’re around! We will sponsor ETHUofT hackathon on March 8–10. Stay tuned for our imminent project request and prize!Kriptomat will host a live video AMA with Loopring’s Matthew Finestone on March 7th.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 03/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 02

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 03/02/2019After some time off for the Lunar New Year holiday, the Loopring team returned in full force in mid-February. Now we are back in action and ready to rock. A talented and experienced UI/UX designer has joined us last week. Our global community hosted a few meetups in Australia and North America. We’ve made great Protocol and Relay progress, had a few deep dive interviews, and Polymath successfully trialed peer-to-peer trading of security tokens over the Loopring protocol.Protocol 2.0The Protocol team has been working with the Relay team on integration testing in the past two weeks. We have completed testing for order parameters processing, encoding, and decoding, signing transactions, order matching, and event logs.Having previously implemented support for the ST20 token standard, Polymath’s implementation of the ERC1400 security token standard, we have now successfully completed test trades. Whitelisted addresses were able to settle trades over the Loopring protocol, while non-whitelisted addresses failed. Coindesk writeup here.RelayLightcone (Relay 2.0)We have completed most of the functionalities for Relay 2.0, so we have started reviewing those functionalities and workflows to ensure the quality and the stability of the system.Completed optimizations for wallet account management and updating order status.Implemented processing of Ethereum fork.Implemented web socket API, including monitoring pending trade.Completed logging, deployment and system monitoring.We have also written basic code for integration testing, preparing for more testings in the future.Finally, we are working on refactoring event logs, wallet account activities and others.Frontend & ProductiOS & AndroidWe have released version 1.6.2 and 1.6.3 of both iOS and Android apps. In Android development, we have fixed several bugs and re-launched app on Baidu App Store. In iOS development, we have updated the app enterprise certificates, allowing users to continue using the enterprise iOS app. In addition, we have updated the trade order form to be closer to the UI of centralized exchanges. It makes it easier for new users to learn how to use our apps. At the same time, we have started researching wallet backup methods on third-party cloud platforms. We have investigated Google Drive, iCloud, Dropbox and other cloud platforms. We believe this feature will simplify workflows and we will continue the development.We are happy to welcome a new designer to the team, Dennis Ge. Through our discussion, it’s clear he is super familiar with the main value proposition of our apps and many others in the space. We have been focusing on the core value of wallets, but also on the visual aesthetics and additional, interactive features. We have started designing an exciting new UI. In the next steps, we will present an initial plan, work with the team to make the new design goal and improve the products gradually. He will definitely make a significant contribution and impact on our products.Operations & Marketing02/06/2019 — LRC is listed on Freewallet.02/12/2019 — Loopring published a comprehensive 29-page Stablecoin Report with PwC. Full report here, synopsis here.02/14/2019 — Ethfinex listed LRC on their platform and organized the Loopring AMA on the Ethfinex Telegram.02/15/2019 — Loopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.02/15/2019 — Loopring co-hosts a DEX meetup in Sydney with HaymarketHQ and Next Genius Community to discuss all things DEX, and the Loopring landscape.02/15/2019 — Dolomite Bi-Weekly Update02/19/2019 — Loopring (LRC) is now on ZILLA Wallet. ZILLA makes it easy to get blockchain event tickets with LRC and manage crypto assets all in one App.02/22/2019 — The Loopring Long Term Incentive Program begins the allowed withdrawal phase.02/27/2019 — Loopring BD director, Matthew, is interviewed by Elastum, a gateway to enter the crypto market with fiat, and shares thoughts regarding Loopring’s past, present, and future.02/27/2019 — Loopring continues to work with Polymath to further peer-to-peer trading of security tokens on a decentralized exchange.Coming up this month, you can find Loopring around Hong Kong Blockchain Week, EthCC, ETHParis, and ETHUofT (University of Toronto). Reach out if you’re around! We will sponsor ETHUofT hackathon on March 8–10. Stay tuned for our imminent project request and prize!Kriptomat will host a live video AMA with Loopring’s Matthew Finestone on March 7th.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 03/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 02

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 03/02/2019After some time off for the Lunar New Year holiday, the Loopring team returned in full force in mid-February. Now we are back in action and ready to rock. A talented and experienced UI/UX designer has joined us last week. Our global community hosted a few meetups in Australia and North America. We’ve made great Protocol and Relay progress, had a few deep dive interviews, and Polymath successfully trialed peer-to-peer trading of security tokens over the Loopring protocol.Protocol 2.0The Protocol team has been working with the Relay team on integration testing in the past two weeks. We have completed testing for order parameters processing, encoding, and decoding, signing transactions, order matching, and event logs.Having previously implemented support for the ST20 token standard, Polymath’s implementation of the ERC1400 security token standard, we have now successfully completed test trades. Whitelisted addresses were able to settle trades over the Loopring protocol, while non-whitelisted addresses failed. Coindesk writeup here.RelayLightcone (Relay 2.0)We have completed most of the functionalities for Relay 2.0, so we have started reviewing those functionalities and workflows to ensure the quality and the stability of the system.Completed optimizations for wallet account management and updating order status.Implemented processing of Ethereum fork.Implemented web socket API, including monitoring pending trade.Completed logging, deployment and system monitoring.We have also written basic code for integration testing, preparing for more testings in the future.Finally, we are working on refactoring event logs, wallet account activities and others.Frontend & ProductiOS & AndroidWe have released version 1.6.2 and 1.6.3 of both iOS and Android apps. In Android development, we have fixed several bugs and re-launched app on Baidu App Store. In iOS development, we have updated the app enterprise certificates, allowing users to continue using the enterprise iOS app. In addition, we have updated the trade order form to be closer to the UI of centralized exchanges. It makes it easier for new users to learn how to use our apps. At the same time, we have started researching wallet backup methods on third-party cloud platforms. We have investigated Google Drive, iCloud, Dropbox and other cloud platforms. We believe this feature will simplify workflows and we will continue the development.We are happy to welcome a new designer to the team, Dennis Ge. Through our discussion, it’s clear he is super familiar with the main value proposition of our apps and many others in the space. We have been focusing on the core value of wallets, but also on the visual aesthetics and additional, interactive features. We have started designing an exciting new UI. In the next steps, we will present an initial plan, work with the team to make the new design goal and improve the products gradually. He will definitely make a significant contribution and impact on our products.Operations & Marketing02/06/2019 — LRC is listed on Freewallet.02/12/2019 — Loopring published a comprehensive 29-page Stablecoin Report with PwC. Full report here, synopsis here.02/14/2019 — Ethfinex listed LRC on their platform and organized the Loopring AMA on the Ethfinex Telegram.02/15/2019 — Loopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.02/15/2019 — Loopring co-hosts a DEX meetup in Sydney with HaymarketHQ and Next Genius Community to discuss all things DEX, and the Loopring landscape.02/15/2019 — Dolomite Bi-Weekly Update02/19/2019 — Loopring (LRC) is now on ZILLA Wallet. ZILLA makes it easy to get blockchain event tickets with LRC and manage crypto assets all in one App.02/22/2019 — The Loopring Long Term Incentive Program begins the allowed withdrawal phase.02/27/2019 — Loopring BD director, Matthew, is interviewed by Elastum, a gateway to enter the crypto market with fiat, and shares thoughts regarding Loopring’s past, present, and future.02/27/2019 — Loopring continues to work with Polymath to further peer-to-peer trading of security tokens on a decentralized exchange.Coming up this month, you can find Loopring around Hong Kong Blockchain Week, EthCC, ETHParis, and ETHUofT (University of Toronto). Reach out if you’re around! We will sponsor ETHUofT hackathon on March 8–10. Stay tuned for our imminent project request and prize!Kriptomat will host a live video AMA with Loopring’s Matthew Finestone on March 7th.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 03/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 02

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 03/02/2019After some time off for the Lunar New Year holiday, the Loopring team returned in full force in mid-February. Now we are back in action and ready to rock. A talented and experienced UI/UX designer has joined us last week. Our global community hosted a few meetups in Australia and North America. We’ve made great Protocol and Relay progress, had a few deep dive interviews, and Polymath successfully trialed peer-to-peer trading of security tokens over the Loopring protocol.Protocol 2.0The Protocol team has been working with the Relay team on integration testing in the past two weeks. We have completed testing for order parameters processing, encoding, and decoding, signing transactions, order matching, and event logs.Having previously implemented support for the ST20 token standard, Polymath’s implementation of the ERC1400 security token standard, we have now successfully completed test trades. Whitelisted addresses were able to settle trades over the Loopring protocol, while non-whitelisted addresses failed. Coindesk writeup here.RelayLightcone (Relay 2.0)We have completed most of the functionalities for Relay 2.0, so we have started reviewing those functionalities and workflows to ensure the quality and the stability of the system.Completed optimizations for wallet account management and updating order status.Implemented processing of Ethereum fork.Implemented web socket API, including monitoring pending trade.Completed logging, deployment and system monitoring.We have also written basic code for integration testing, preparing for more testings in the future.Finally, we are working on refactoring event logs, wallet account activities and others.Frontend & ProductiOS & AndroidWe have released version 1.6.2 and 1.6.3 of both iOS and Android apps. In Android development, we have fixed several bugs and re-launched app on Baidu App Store. In iOS development, we have updated the app enterprise certificates, allowing users to continue using the enterprise iOS app. In addition, we have updated the trade order form to be closer to the UI of centralized exchanges. It makes it easier for new users to learn how to use our apps. At the same time, we have started researching wallet backup methods on third-party cloud platforms. We have investigated Google Drive, iCloud, Dropbox and other cloud platforms. We believe this feature will simplify workflows and we will continue the development.We are happy to welcome a new designer to the team, Dennis Ge. Through our discussion, it’s clear he is super familiar with the main value proposition of our apps and many others in the space. We have been focusing on the core value of wallets, but also on the visual aesthetics and additional, interactive features. We have started designing an exciting new UI. In the next steps, we will present an initial plan, work with the team to make the new design goal and improve the products gradually. He will definitely make a significant contribution and impact on our products.Operations & Marketing02/06/2019 — LRC is listed on Freewallet.02/12/2019 — Loopring published a comprehensive 29-page Stablecoin Report with PwC. Full report here, synopsis here.02/14/2019 — Ethfinex listed LRC on their platform and organized the Loopring AMA on the Ethfinex Telegram.02/15/2019 — Loopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.02/15/2019 — Loopring co-hosts a DEX meetup in Sydney with HaymarketHQ and Next Genius Community to discuss all things DEX, and the Loopring landscape.02/15/2019 — Dolomite Bi-Weekly Update02/19/2019 — Loopring (LRC) is now on ZILLA Wallet. ZILLA makes it easy to get blockchain event tickets with LRC and manage crypto assets all in one App.02/22/2019 — The Loopring Long Term Incentive Program begins the allowed withdrawal phase.02/27/2019 — Loopring BD director, Matthew, is interviewed by Elastum, a gateway to enter the crypto market with fiat, and shares thoughts regarding Loopring’s past, present, and future.02/27/2019 — Loopring continues to work with Polymath to further peer-to-peer trading of security tokens on a decentralized exchange.Coming up this month, you can find Loopring around Hong Kong Blockchain Week, EthCC, ETHParis, and ETHUofT (University of Toronto). Reach out if you’re around! We will sponsor ETHUofT hackathon on March 8–10. Stay tuned for our imminent project request and prize!Kriptomat will host a live video AMA with Loopring’s Matthew Finestone on March 7th.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 03/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 03. 02

Loopring Sydney Meetup Recap

Loopring co-hosted a DEX meetup in Sydney with HaymarketHQ and NextGenius to discuss all things DEX, and the Loopring landscape.Haymarket HQ and Next Genius Community jointly held the Loopring meetup to discuss the current exchange landscape and decentralized solutions on the Loopring Protocol.The crowd consisted of blockchain developers, entrepreneurs, and crypto enthusiasts. Loopring CMO, Jay Zhou, shared with the community the open source protocol providing fundamental building block for crypto exchanges, which can be integrated into other blockchain applications that may need to manage multiple tokens.Jay presented that the three primary risks of centralized exchanges are: 1) Lack of security, 2) Lack of transparency, and 3) Lack of liquidity. Decentralized exchanges differ from centralized exchanges in part because users maintain control of their private-keys (assets) by performing trades directly on the underlying blockchain. By leveraging the trustless technology of cryptocurrencies themselves, they successfully mitigate risks of security and transparency. However, liquidity often remains an issue as users must search for counterparties across disparate liquidity pools and standards.Loopring uses a combination of off-chain order messaging and on-chain settlement to ensure users maintain custody of their tokens. Loopring is also working on their protocol-specific Ethereum side-chain for faster and cheaper settlement to power massive adoption of decentralized exchanges.About Haymarket HQHaymarket HQ is Australia’s first startup hub supporting entrepreneurs to connect to Asia. They offer access to co-working space, mentors and investors, and a huge network of like-minded entrepreneurs across Asia-Pacific. Their role is to raise awareness about the opportunities and developments in Asia and support entrepreneurs to capitalise on them.About Next Genius CommunityNext Genius Community is the largest Chinese programmers community based in Sydney, easy to share with other members the most advanced techniques, help each other. They can provide the maximum support for all start-ups. As a member, you can get inspiration from blockchain meetups and learn new technology such as smart contract development.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Sydney Meetup Recap was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 20

Loopring Sydney Meetup Recap

Loopring co-hosted a DEX meetup in Sydney with HaymarketHQ and NextGenius to discuss all things DEX, and the Loopring landscape.Haymarket HQ and Next Genius Community jointly held the Loopring meetup to discuss the current exchange landscape and decentralized solutions on the Loopring Protocol.The crowd consisted of blockchain developers, entrepreneurs, and crypto enthusiasts. Loopring CMO, Jay Zhou, shared with the community the open source protocol providing fundamental building block for crypto exchanges, which can be integrated into other blockchain applications that may need to manage multiple tokens.Jay presented that the three primary risks of centralized exchanges are: 1) Lack of security, 2) Lack of transparency, and 3) Lack of liquidity. Decentralized exchanges differ from centralized exchanges in part because users maintain control of their private-keys (assets) by performing trades directly on the underlying blockchain. By leveraging the trustless technology of cryptocurrencies themselves, they successfully mitigate risks of security and transparency. However, liquidity often remains an issue as users must search for counterparties across disparate liquidity pools and standards.Loopring uses a combination of off-chain order messaging and on-chain settlement to ensure users maintain custody of their tokens. Loopring is also working on their protocol-specific Ethereum side-chain for faster and cheaper settlement to power massive adoption of decentralized exchanges.About Haymarket HQHaymarket HQ is Australia’s first startup hub supporting entrepreneurs to connect to Asia. They offer access to co-working space, mentors and investors, and a huge network of like-minded entrepreneurs across Asia-Pacific. Their role is to raise awareness about the opportunities and developments in Asia and support entrepreneurs to capitalise on them.About Next Genius CommunityNext Genius Community is the largest Chinese programmers community based in Sydney, easy to share with other members the most advanced techniques, help each other. They can provide the maximum support for all start-ups. As a member, you can get inspiration from blockchain meetups and learn new technology such as smart contract development.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Sydney Meetup Recap was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 20

Loopring Sydney Meetup Recap

Loopring co-hosted a DEX meetup in Sydney with HaymarketHQ and NextGenius to discuss all things DEX, and the Loopring landscape.Haymarket HQ and Next Genius Community jointly held the Loopring meetup to discuss the current exchange landscape and decentralized solutions on the Loopring Protocol.The crowd consisted of blockchain developers, entrepreneurs, and crypto enthusiasts. Loopring CMO, Jay Zhou, shared with the community the open source protocol providing fundamental building block for crypto exchanges, which can be integrated into other blockchain applications that may need to manage multiple tokens.Jay presented that the three primary risks of centralized exchanges are: 1) Lack of security, 2) Lack of transparency, and 3) Lack of liquidity. Decentralized exchanges differ from centralized exchanges in part because users maintain control of their private-keys (assets) by performing trades directly on the underlying blockchain. By leveraging the trustless technology of cryptocurrencies themselves, they successfully mitigate risks of security and transparency. However, liquidity often remains an issue as users must search for counterparties across disparate liquidity pools and standards.Loopring uses a combination of off-chain order messaging and on-chain settlement to ensure users maintain custody of their tokens. Loopring is also working on their protocol-specific Ethereum side-chain for faster and cheaper settlement to power massive adoption of decentralized exchanges.About Haymarket HQHaymarket HQ is Australia’s first startup hub supporting entrepreneurs to connect to Asia. They offer access to co-working space, mentors and investors, and a huge network of like-minded entrepreneurs across Asia-Pacific. Their role is to raise awareness about the opportunities and developments in Asia and support entrepreneurs to capitalise on them.About Next Genius CommunityNext Genius Community is the largest Chinese programmers community based in Sydney, easy to share with other members the most advanced techniques, help each other. They can provide the maximum support for all start-ups. As a member, you can get inspiration from blockchain meetups and learn new technology such as smart contract development.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Sydney Meetup Recap was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 20

Loopring Sydney Meetup Recap

Loopring co-hosted a DEX meetup in Sydney with HaymarketHQ and NextGenius to discuss all things DEX, and the Loopring landscape.Haymarket HQ and Next Genius Community jointly held the Loopring meetup to discuss the current exchange landscape and decentralized solutions on the Loopring Protocol.The crowd consisted of blockchain developers, entrepreneurs, and crypto enthusiasts. Loopring CMO, Jay Zhou, shared with the community the open source protocol providing fundamental building block for crypto exchanges, which can be integrated into other blockchain applications that may need to manage multiple tokens.Jay presented that the three primary risks of centralized exchanges are: 1) Lack of security, 2) Lack of transparency, and 3) Lack of liquidity. Decentralized exchanges differ from centralized exchanges in part because users maintain control of their private-keys (assets) by performing trades directly on the underlying blockchain. By leveraging the trustless technology of cryptocurrencies themselves, they successfully mitigate risks of security and transparency. However, liquidity often remains an issue as users must search for counterparties across disparate liquidity pools and standards.Loopring uses a combination of off-chain order messaging and on-chain settlement to ensure users maintain custody of their tokens. Loopring is also working on their protocol-specific Ethereum side-chain for faster and cheaper settlement to power massive adoption of decentralized exchanges.About Haymarket HQHaymarket HQ is Australia’s first startup hub supporting entrepreneurs to connect to Asia. They offer access to co-working space, mentors and investors, and a huge network of like-minded entrepreneurs across Asia-Pacific. Their role is to raise awareness about the opportunities and developments in Asia and support entrepreneurs to capitalise on them.About Next Genius CommunityNext Genius Community is the largest Chinese programmers community based in Sydney, easy to share with other members the most advanced techniques, help each other. They can provide the maximum support for all start-ups. As a member, you can get inspiration from blockchain meetups and learn new technology such as smart contract development.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us at:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Sydney Meetup Recap was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 20

Ethfinex Telegram AMA with ...

We appreciate Ethfinex for listing LRC on their platform and organizing the Loopring AMA on the Ethfinex Telegram on Thursday, Feb 14th, 2019. This post sums up the questions and answers.1. An introduction would be great, perhaps we can kick things off with by telling us a bit about the Loopring genesis story; how you guys came to be and what key problems you are solving?Daniel: Alright, good idea. First of all, English is not my native language, forgive my typos please. I used to work for Google and in 2014 I founded a startup to offer centralized exchange service to help people to buy/sell BTC/LTC/XRP etc. The business didn’t go well so I closed it and joined an insurance company and secretly built a similar product, but still focusing on digital asset trading.The idea of Loopring came up to me while I’m with my previous employer, but I’m obsessed with it, so I quit and did an ICO. The ICO is very successfully but ended up refunding most ether raised (close to 100K) to participants due to the regulation in China. We decided to go with what left with us to continue the development though. The Loopring protocol adapts the idea of “managing, sharing, and matching orders off chain and settling trade on chain”, the on-chain part is the protocol, the off-chain part is the relayer, which is very similar to the 0x protocol.The differences from other trading protocol is the following, and I believe some of them are our advantages:Loopring protocol is order-based. I personal believe most of the values are generated by order-based trading because that’s what most people are used to.Loopring features “ring matching”. Each loopring’s order is modelled as <giving-out-X-tokenS-for-Y-tokenB>, or <X tokenS->Y tokenB> for short ,regardless whether the order is a sell or a buy. With such an unidirectional order modelling, we can enable <10 X->10Y> <10Y->10Z> and <10Z->10X> order to trade in one transaction. This cannot be done using other protocols and is a built in arbitrage mechanism.Loopring can prevent orders to be stolen by any middleman or Ethereum miners, which is what 0x is lack of and will be suffering.But the most existing thing about Loopring 2.0 is the fact that relayers can accept any token as the fee token, not LRC. When a relayer get 1000 GTO as fee, for example, 200 GTO will be “taxed” into a fee contract, and those 200 GTO and other tokens, will be auctioned off for LRC, those purchased LRC will be burned automatically. For GTO, the “burn rate” can be 10%, but if relayers accept LRC as fee, the rate is only 5 percentage. This guarantees LRC’s total supply will decrease over time.2. Hi Daniel, thanks for being here to answer questions today, much appreciated! I’ve been a holder of LRC but, aside from general market conditions, I feel underwhelmed by the growth of LRC. For a project that seems to tick a lot of boxes, the interest feels low. Do you have any plans to ham up your outreach efforts to try build some hype around it?Daniel: We are mostly engineers, actually only 4 people are not engineers. We want to focus on coding and delivering the protocol and a new relayer implementation, we don’t do a lot of marketing as of now. But this may change in the future — once we deployed the new relayer backend and get liquidity, we’ll do more promotions. The plan is to deploy the relayer in about 2 months. We are close to code complete but need to do a lot of testing internally.3. Hi Daniel! I’m interested in your liquidity strategy as your model seems to be dependent on having high volume. Are you engaging market makers?Daniel: We’ll open our relayer backend API for people to make marketing on our relayer. But you are right, given the current Ethereum throughput, it is hard to generate comparable trading volumes on DEX. We are also working on a new protocol upgrade, v3, to migrate some on-chain verification logic off-chain to reduce gas cost and can potentially settle about 100 trades per Ethereum TX. This is helpful for liquidity generation, but it has some other drawbacks we are trying to mitigate.4. I heard elsewhere that you are introducing a new token (LRX) resulting in two Loopring tokens. Whats the point of this? How will it work? And will it impact the price of LRC?Daniel: There are LRC (for Ethereum) and LRN (for NEO). NO more LRx Tokens. We are working with the Dora team to build a cross chain solution, on the up-coming DEX-chain, LRN will be used as the native coin, and people who hold LRN can transfer their LRN from NEO to the DEX-chain and even convert to WLRN on Ethereum. The DEX chain will host only DEX protocols and DApp. LRN will be used as the fee token and governance token. We’ll release more details regarding the DEX chain and LRN in Q2.5. Any limitations to the orders people can execute? Is it only limit orders or will there be functionality for market orders and possibly even margin?Daniel: Currently we still focus on limit price orders. The limited price order guarantees once traded, the price meets the owner’s expectation. But the issues is the order may never be filled; we have a new (a pretty innovative ) trading model to be released in about a month, witch guarantees the settlement but not price, similar to Dutch Auction.6. Have you considered communal pooled liquidity similar to Uniswap to bootstrap 1) a community 2) liquidity?Daniel: We did. But as I said, pooled liquidity mechanism is not the silver bullet, we believe that order-based trading will still prevail. Don’t take me wrong. I like Uniswap, but I cannot image a crypto-world without a well designed order-based trading protocol. Loopring wants to be the protocol.7. I am thinking more so adding on that feature along with ring matching. Both benefits can be had. DEX’s are plagued with liquidity issues. How is LRC fixing this? the LRC protocol is great in a world where there is at least $15m in total liquidity. How will it get to that point?Daniel: There is no easy fix for the lack of liquidity, even for CEX. What Loopring can help DEX is sharing of orders across multiple DEXs. This will certainly be helpful. For tokens of very small total supply, pooled liquidity may help, but don’t forget that a certainly amount of those tokens will be kept in a smart contract in order to make the pooled liquidity works, which is bad for the token as its supply is small already.Order-based protocols are best for tokens of larger supplies or market cap and a lot of holders. For smaller tokens, our new model, mentioned above, called “Oedax” will help.8. How about a Totle like approach. Creating a contract that aggregates Kyber, 0x, Uniswap orders INTO Loopring. Have LRC be the dex aggregator?Daniel: We don’t want to be an aggregator, we want to be one of those fundamentally important protocols.9. It makes sense to create a smart contract that pools ETH/ERC20’s. The liquidity pool can then be used to market make, the benefit for liquidity providers will be 20% of fees from trades using the liquidity pool. I don’t see how this isn’t a win win?Daniel: Those numbers above is for illustration purpose only, the actual burn rates are different. We also support WETH as fee as you can imagine. It depends on how the pool is implemented. Ideally it should not be just one pool, it should be many of them and anyone can create a new one or join an existing one.10. Loopring is a protocol that works well at scale, we both agree there. Where we disagree is that liquidity will just come into DEX’s. You must understand that this can take 5+ years. What is the strategy to get more liquidity — if there is one?Daniel: Or if it is the only one, decentralized governance should be applied. I don’t think I disagree. Getting liquidity to DEX is hard and it’s not going to happen over night.11. Will you stay on the Ethereum network or do you have plans to migrate to your own mainnet?Daniel: We focus on the protocol layer, which means we can move to other networks. But for the near term, we’ll stick to Ethereum as I see it as the best ecosystem for dApps. The DEX chain we mentioned is NOT a Loopring mainnet, we co-develop it with another team, we focus on protocol, they focus on cross-chain. There will never be a Loopring mainnet.BTW, I don’t think any existing DEX protocols are good enough for large scale adoption. Counting on the underlying blockchain to scale up is a bad idea. Here at Loopring, we are trying to scale the protocol using other means. We plan to go to Paris to attend a couple of Ethereum Dev Conference to show some of our work in March and April. So stay tuned.— Thanks for the questions everyone and to Ethfinex!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Ethfinex Telegram AMA with Loopring’s Daniel Wang was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 16

Ethfinex Telegram AMA with ...

We appreciate Ethfinex for listing LRC on their platform and organizing the Loopring AMA on the Ethfinex Telegram on Thursday, Feb 14th, 2019. This post sums up the questions and answers.1. An introduction would be great, perhaps we can kick things off with by telling us a bit about the Loopring genesis story; how you guys came to be and what key problems you are solving?Daniel: Alright, good idea. First of all, English is not my native language, forgive my typos please. I used to work for Google and in 2014 I founded a startup to offer centralized exchange service to help people to buy/sell BTC/LTC/XRP etc. The business didn’t go well so I closed it and joined an insurance company and secretly built a similar product, but still focusing on digital asset trading.The idea of Loopring came up to me while I’m with my previous employer, but I’m obsessed with it, so I quit and did an ICO. The ICO is very successfully but ended up refunding most ether raised (close to 100K) to participants due to the regulation in China. We decided to go with what left with us to continue the development though. The Loopring protocol adapts the idea of “managing, sharing, and matching orders off chain and settling trade on chain”, the on-chain part is the protocol, the off-chain part is the relayer, which is very similar to the 0x protocol.The differences from other trading protocol is the following, and I believe some of them are our advantages:Loopring protocol is order-based. I personal believe most of the values are generated by order-based trading because that’s what most people are used to.Loopring features “ring matching”. Each loopring’s order is modelled as <giving-out-X-tokenS-for-Y-tokenB>, or <X tokenS->Y tokenB> for short ,regardless whether the order is a sell or a buy. With such an unidirectional order modelling, we can enable <10 X->10Y> <10Y->10Z> and <10Z->10X> order to trade in one transaction. This cannot be done using other protocols and is a built in arbitrage mechanism.Loopring can prevent orders to be stolen by any middleman or Ethereum miners, which is what 0x is lack of and will be suffering.But the most existing thing about Loopring 2.0 is the fact that relayers can accept any token as the fee token, not LRC. When a relayer get 1000 GTO as fee, for example, 200 GTO will be “taxed” into a fee contract, and those 200 GTO and other tokens, will be auctioned off for LRC, those purchased LRC will be burned automatically. For GTO, the “burn rate” can be 10%, but if relayers accept LRC as fee, the rate is only 5 percentage. This guarantees LRC’s total supply will decrease over time.2. Hi Daniel, thanks for being here to answer questions today, much appreciated! I’ve been a holder of LRC but, aside from general market conditions, I feel underwhelmed by the growth of LRC. For a project that seems to tick a lot of boxes, the interest feels low. Do you have any plans to ham up your outreach efforts to try build some hype around it?Daniel: We are mostly engineers, actually only 4 people are not engineers. We want to focus on coding and delivering the protocol and a new relayer implementation, we don’t do a lot of marketing as of now. But this may change in the future — once we deployed the new relayer backend and get liquidity, we’ll do more promotions. The plan is to deploy the relayer in about 2 months. We are close to code complete but need to do a lot of testing internally.3. Hi Daniel! I’m interested in your liquidity strategy as your model seems to be dependent on having high volume. Are you engaging market makers?Daniel: We’ll open our relayer backend API for people to make marketing on our relayer. But you are right, given the current Ethereum throughput, it is hard to generate comparable trading volumes on DEX. We are also working on a new protocol upgrade, v3, to migrate some on-chain verification logic off-chain to reduce gas cost and can potentially settle about 100 trades per Ethereum TX. This is helpful for liquidity generation, but it has some other drawbacks we are trying to mitigate.4. I heard elsewhere that you are introducing a new token (LRX) resulting in two Loopring tokens. Whats the point of this? How will it work? And will it impact the price of LRC?Daniel: There are LRC (for Ethereum) and LRN (for NEO). NO more LRx Tokens. We are working with the Dora team to build a cross chain solution, on the up-coming DEX-chain, LRN will be used as the native coin, and people who hold LRN can transfer their LRN from NEO to the DEX-chain and even convert to WLRN on Ethereum. The DEX chain will host only DEX protocols and DApp. LRN will be used as the fee token and governance token. We’ll release more details regarding the DEX chain and LRN in Q2.5. Any limitations to the orders people can execute? Is it only limit orders or will there be functionality for market orders and possibly even margin?Daniel: Currently we still focus on limit price orders. The limited price order guarantees once traded, the price meets the owner’s expectation. But the issues is the order may never be filled; we have a new (a pretty innovative ) trading model to be released in about a month, witch guarantees the settlement but not price, similar to Dutch Auction.6. Have you considered communal pooled liquidity similar to Uniswap to bootstrap 1) a community 2) liquidity?Daniel: We did. But as I said, pooled liquidity mechanism is not the silver bullet, we believe that order-based trading will still prevail. Don’t take me wrong. I like Uniswap, but I cannot image a crypto-world without a well designed order-based trading protocol. Loopring wants to be the protocol.7. I am thinking more so adding on that feature along with ring matching. Both benefits can be had. DEX’s are plagued with liquidity issues. How is LRC fixing this? the LRC protocol is great in a world where there is at least $15m in total liquidity. How will it get to that point?Daniel: There is no easy fix for the lack of liquidity, even for CEX. What Loopring can help DEX is sharing of orders across multiple DEXs. This will certainly be helpful. For tokens of very small total supply, pooled liquidity may help, but don’t forget that a certainly amount of those tokens will be kept in a smart contract in order to make the pooled liquidity works, which is bad for the token as its supply is small already.Order-based protocols are best for tokens of larger supplies or market cap and a lot of holders. For smaller tokens, our new model, mentioned above, called “Oedax” will help.8. How about a Totle like approach. Creating a contract that aggregates Kyber, 0x, Uniswap orders INTO Loopring. Have LRC be the dex aggregator?Daniel: We don’t want to be an aggregator, we want to be one of those fundamentally important protocols.9. It makes sense to create a smart contract that pools ETH/ERC20’s. The liquidity pool can then be used to market make, the benefit for liquidity providers will be 20% of fees from trades using the liquidity pool. I don’t see how this isn’t a win win?Daniel: Those numbers above is for illustration purpose only, the actual burn rates are different. We also support WETH as fee as you can imagine. It depends on how the pool is implemented. Ideally it should not be just one pool, it should be many of them and anyone can create a new one or join an existing one.10. Loopring is a protocol that works well at scale, we both agree there. Where we disagree is that liquidity will just come into DEX’s. You must understand that this can take 5+ years. What is the strategy to get more liquidity — if there is one?Daniel: Or if it is the only one, decentralized governance should be applied. I don’t think I disagree. Getting liquidity to DEX is hard and it’s not going to happen over night.11. Will you stay on the Ethereum network or do you have plans to migrate to your own mainnet?Daniel: We focus on the protocol layer, which means we can move to other networks. But for the near term, we’ll stick to Ethereum as I see it as the best ecosystem for dApps. The DEX chain we mentioned is NOT a Loopring mainnet, we co-develop it with another team, we focus on protocol, they focus on cross-chain. There will never be a Loopring mainnet.BTW, I don’t think any existing DEX protocols are good enough for large scale adoption. Counting on the underlying blockchain to scale up is a bad idea. Here at Loopring, we are trying to scale the protocol using other means. We plan to go to Paris to attend a couple of Ethereum Dev Conference to show some of our work in March and April. So stay tuned.— Thanks for the questions everyone and to Ethfinex!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Ethfinex Telegram AMA with Loopring’s Daniel Wang was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 16

Ethfinex Telegram AMA with ...

We appreciate Ethfinex for listing LRC on their platform and organizing the Loopring AMA on the Ethfinex Telegram on Thursday, Feb 14th, 2019. This post sums up the questions and answers.1. An introduction would be great, perhaps we can kick things off with by telling us a bit about the Loopring genesis story; how you guys came to be and what key problems you are solving?Daniel: Alright, good idea. First of all, English is not my native language, forgive my typos please. I used to work for Google and in 2014 I founded a startup to offer centralized exchange service to help people to buy/sell BTC/LTC/XRP etc. The business didn’t go well so I closed it and joined an insurance company and secretly built a similar product, but still focusing on digital asset trading.The idea of Loopring came up to me while I’m with my previous employer, but I’m obsessed with it, so I quit and did an ICO. The ICO is very successfully but ended up refunding most ether raised (close to 100K) to participants due to the regulation in China. We decided to go with what left with us to continue the development though. The Loopring protocol adapts the idea of “managing, sharing, and matching orders off chain and settling trade on chain”, the on-chain part is the protocol, the off-chain part is the relayer, which is very similar to the 0x protocol.The differences from other trading protocol is the following, and I believe some of them are our advantages:Loopring protocol is order-based. I personal believe most of the values are generated by order-based trading because that’s what most people are used to.Loopring features “ring matching”. Each loopring’s order is modelled as <giving-out-X-tokenS-for-Y-tokenB>, or <X tokenS->Y tokenB> for short ,regardless whether the order is a sell or a buy. With such an unidirectional order modelling, we can enable <10 X->10Y> <10Y->10Z> and <10Z->10X> order to trade in one transaction. This cannot be done using other protocols and is a built in arbitrage mechanism.Loopring can prevent orders to be stolen by any middleman or Ethereum miners, which is what 0x is lack of and will be suffering.But the most existing thing about Loopring 2.0 is the fact that relayers can accept any token as the fee token, not LRC. When a relayer get 1000 GTO as fee, for example, 200 GTO will be “taxed” into a fee contract, and those 200 GTO and other tokens, will be auctioned off for LRC, those purchased LRC will be burned automatically. For GTO, the “burn rate” can be 10%, but if relayers accept LRC as fee, the rate is only 5 percentage. This guarantees LRC’s total supply will decrease over time.2. Hi Daniel, thanks for being here to answer questions today, much appreciated! I’ve been a holder of LRC but, aside from general market conditions, I feel underwhelmed by the growth of LRC. For a project that seems to tick a lot of boxes, the interest feels low. Do you have any plans to ham up your outreach efforts to try build some hype around it?Daniel: We are mostly engineers, actually only 4 people are not engineers. We want to focus on coding and delivering the protocol and a new relayer implementation, we don’t do a lot of marketing as of now. But this may change in the future — once we deployed the new relayer backend and get liquidity, we’ll do more promotions. The plan is to deploy the relayer in about 2 months. We are close to code complete but need to do a lot of testing internally.3. Hi Daniel! I’m interested in your liquidity strategy as your model seems to be dependent on having high volume. Are you engaging market makers?Daniel: We’ll open our relayer backend API for people to make marketing on our relayer. But you are right, given the current Ethereum throughput, it is hard to generate comparable trading volumes on DEX. We are also working on a new protocol upgrade, v3, to migrate some on-chain verification logic off-chain to reduce gas cost and can potentially settle about 100 trades per Ethereum TX. This is helpful for liquidity generation, but it has some other drawbacks we are trying to mitigate.4. I heard elsewhere that you are introducing a new token (LRX) resulting in two Loopring tokens. Whats the point of this? How will it work? And will it impact the price of LRC?Daniel: There are LRC (for Ethereum) and LRN (for NEO). NO more LRx Tokens. We are working with the Dora team to build a cross chain solution, on the up-coming DEX-chain, LRN will be used as the native coin, and people who hold LRN can transfer their LRN from NEO to the DEX-chain and even convert to WLRN on Ethereum. The DEX chain will host only DEX protocols and DApp. LRN will be used as the fee token and governance token. We’ll release more details regarding the DEX chain and LRN in Q2.5. Any limitations to the orders people can execute? Is it only limit orders or will there be functionality for market orders and possibly even margin?Daniel: Currently we still focus on limit price orders. The limited price order guarantees once traded, the price meets the owner’s expectation. But the issues is the order may never be filled; we have a new (a pretty innovative ) trading model to be released in about a month, witch guarantees the settlement but not price, similar to Dutch Auction.6. Have you considered communal pooled liquidity similar to Uniswap to bootstrap 1) a community 2) liquidity?Daniel: We did. But as I said, pooled liquidity mechanism is not the silver bullet, we believe that order-based trading will still prevail. Don’t take me wrong. I like Uniswap, but I cannot image a crypto-world without a well designed order-based trading protocol. Loopring wants to be the protocol.7. I am thinking more so adding on that feature along with ring matching. Both benefits can be had. DEX’s are plagued with liquidity issues. How is LRC fixing this? the LRC protocol is great in a world where there is at least $15m in total liquidity. How will it get to that point?Daniel: There is no easy fix for the lack of liquidity, even for CEX. What Loopring can help DEX is sharing of orders across multiple DEXs. This will certainly be helpful. For tokens of very small total supply, pooled liquidity may help, but don’t forget that a certainly amount of those tokens will be kept in a smart contract in order to make the pooled liquidity works, which is bad for the token as its supply is small already.Order-based protocols are best for tokens of larger supplies or market cap and a lot of holders. For smaller tokens, our new model, mentioned above, called “Oedax” will help.8. How about a Totle like approach. Creating a contract that aggregates Kyber, 0x, Uniswap orders INTO Loopring. Have LRC be the dex aggregator?Daniel: We don’t want to be an aggregator, we want to be one of those fundamentally important protocols.9. It makes sense to create a smart contract that pools ETH/ERC20’s. The liquidity pool can then be used to market make, the benefit for liquidity providers will be 20% of fees from trades using the liquidity pool. I don’t see how this isn’t a win win?Daniel: Those numbers above is for illustration purpose only, the actual burn rates are different. We also support WETH as fee as you can imagine. It depends on how the pool is implemented. Ideally it should not be just one pool, it should be many of them and anyone can create a new one or join an existing one.10. Loopring is a protocol that works well at scale, we both agree there. Where we disagree is that liquidity will just come into DEX’s. You must understand that this can take 5+ years. What is the strategy to get more liquidity — if there is one?Daniel: Or if it is the only one, decentralized governance should be applied. I don’t think I disagree. Getting liquidity to DEX is hard and it’s not going to happen over night.11. Will you stay on the Ethereum network or do you have plans to migrate to your own mainnet?Daniel: We focus on the protocol layer, which means we can move to other networks. But for the near term, we’ll stick to Ethereum as I see it as the best ecosystem for dApps. The DEX chain we mentioned is NOT a Loopring mainnet, we co-develop it with another team, we focus on protocol, they focus on cross-chain. There will never be a Loopring mainnet.BTW, I don’t think any existing DEX protocols are good enough for large scale adoption. Counting on the underlying blockchain to scale up is a bad idea. Here at Loopring, we are trying to scale the protocol using other means. We plan to go to Paris to attend a couple of Ethereum Dev Conference to show some of our work in March and April. So stay tuned.— Thanks for the questions everyone and to Ethfinex!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Ethfinex Telegram AMA with Loopring’s Daniel Wang was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 16

Ethfinex Telegram AMA with ...

We appreciate Ethfinex for listing LRC on their platform and organizing the Loopring AMA on the Ethfinex Telegram on Thursday, Feb 14th, 2019. This post sums up the questions and answers.1. An introduction would be great, perhaps we can kick things off with by telling us a bit about the Loopring genesis story; how you guys came to be and what key problems you are solving?Daniel: Alright, good idea. First of all, English is not my native language, forgive my typos please. I used to work for Google and in 2014 I founded a startup to offer centralized exchange service to help people to buy/sell BTC/LTC/XRP etc. The business didn’t go well so I closed it and joined an insurance company and secretly built a similar product, but still focusing on digital asset trading.The idea of Loopring came up to me while I’m with my previous employer, but I’m obsessed with it, so I quit and did an ICO. The ICO is very successfully but ended up refunding most ether raised (close to 100K) to participants due to the regulation in China. We decided to go with what left with us to continue the development though. The Loopring protocol adapts the idea of “managing, sharing, and matching orders off chain and settling trade on chain”, the on-chain part is the protocol, the off-chain part is the relayer, which is very similar to the 0x protocol.The differences from other trading protocol is the following, and I believe some of them are our advantages:Loopring protocol is order-based. I personal believe most of the values are generated by order-based trading because that’s what most people are used to.Loopring features “ring matching”. Each loopring’s order is modelled as <giving-out-X-tokenS-for-Y-tokenB>, or <X tokenS->Y tokenB> for short ,regardless whether the order is a sell or a buy. With such an unidirectional order modelling, we can enable <10 X->10Y> <10Y->10Z> and <10Z->10X> order to trade in one transaction. This cannot be done using other protocols and is a built in arbitrage mechanism.Loopring can prevent orders to be stolen by any middleman or Ethereum miners, which is what 0x is lack of and will be suffering.But the most existing thing about Loopring 2.0 is the fact that relayers can accept any token as the fee token, not LRC. When a relayer get 1000 GTO as fee, for example, 200 GTO will be “taxed” into a fee contract, and those 200 GTO and other tokens, will be auctioned off for LRC, those purchased LRC will be burned automatically. For GTO, the “burn rate” can be 10%, but if relayers accept LRC as fee, the rate is only 5 percentage. This guarantees LRC’s total supply will decrease over time.2. Hi Daniel, thanks for being here to answer questions today, much appreciated! I’ve been a holder of LRC but, aside from general market conditions, I feel underwhelmed by the growth of LRC. For a project that seems to tick a lot of boxes, the interest feels low. Do you have any plans to ham up your outreach efforts to try build some hype around it?Daniel: We are mostly engineers, actually only 4 people are not engineers. We want to focus on coding and delivering the protocol and a new relayer implementation, we don’t do a lot of marketing as of now. But this may change in the future — once we deployed the new relayer backend and get liquidity, we’ll do more promotions. The plan is to deploy the relayer in about 2 months. We are close to code complete but need to do a lot of testing internally.3. Hi Daniel! I’m interested in your liquidity strategy as your model seems to be dependent on having high volume. Are you engaging market makers?Daniel: We’ll open our relayer backend API for people to make marketing on our relayer. But you are right, given the current Ethereum throughput, it is hard to generate comparable trading volumes on DEX. We are also working on a new protocol upgrade, v3, to migrate some on-chain verification logic off-chain to reduce gas cost and can potentially settle about 100 trades per Ethereum TX. This is helpful for liquidity generation, but it has some other drawbacks we are trying to mitigate.4. I heard elsewhere that you are introducing a new token (LRX) resulting in two Loopring tokens. Whats the point of this? How will it work? And will it impact the price of LRC?Daniel: There are LRC (for Ethereum) and LRN (for NEO). NO more LRx Tokens. We are working with the Dora team to build a cross chain solution, on the up-coming DEX-chain, LRN will be used as the native coin, and people who hold LRN can transfer their LRN from NEO to the DEX-chain and even convert to WLRN on Ethereum. The DEX chain will host only DEX protocols and DApp. LRN will be used as the fee token and governance token. We’ll release more details regarding the DEX chain and LRN in Q2.5. Any limitations to the orders people can execute? Is it only limit orders or will there be functionality for market orders and possibly even margin?Daniel: Currently we still focus on limit price orders. The limited price order guarantees once traded, the price meets the owner’s expectation. But the issues is the order may never be filled; we have a new (a pretty innovative ) trading model to be released in about a month, witch guarantees the settlement but not price, similar to Dutch Auction.6. Have you considered communal pooled liquidity similar to Uniswap to bootstrap 1) a community 2) liquidity?Daniel: We did. But as I said, pooled liquidity mechanism is not the silver bullet, we believe that order-based trading will still prevail. Don’t take me wrong. I like Uniswap, but I cannot image a crypto-world without a well designed order-based trading protocol. Loopring wants to be the protocol.7. I am thinking more so adding on that feature along with ring matching. Both benefits can be had. DEX’s are plagued with liquidity issues. How is LRC fixing this? the LRC protocol is great in a world where there is at least $15m in total liquidity. How will it get to that point?Daniel: There is no easy fix for the lack of liquidity, even for CEX. What Loopring can help DEX is sharing of orders across multiple DEXs. This will certainly be helpful. For tokens of very small total supply, pooled liquidity may help, but don’t forget that a certainly amount of those tokens will be kept in a smart contract in order to make the pooled liquidity works, which is bad for the token as its supply is small already.Order-based protocols are best for tokens of larger supplies or market cap and a lot of holders. For smaller tokens, our new model, mentioned above, called “Oedax” will help.8. How about a Totle like approach. Creating a contract that aggregates Kyber, 0x, Uniswap orders INTO Loopring. Have LRC be the dex aggregator?Daniel: We don’t want to be an aggregator, we want to be one of those fundamentally important protocols.9. It makes sense to create a smart contract that pools ETH/ERC20’s. The liquidity pool can then be used to market make, the benefit for liquidity providers will be 20% of fees from trades using the liquidity pool. I don’t see how this isn’t a win win?Daniel: Those numbers above is for illustration purpose only, the actual burn rates are different. We also support WETH as fee as you can imagine. It depends on how the pool is implemented. Ideally it should not be just one pool, it should be many of them and anyone can create a new one or join an existing one.10. Loopring is a protocol that works well at scale, we both agree there. Where we disagree is that liquidity will just come into DEX’s. You must understand that this can take 5+ years. What is the strategy to get more liquidity — if there is one?Daniel: Or if it is the only one, decentralized governance should be applied. I don’t think I disagree. Getting liquidity to DEX is hard and it’s not going to happen over night.11. Will you stay on the Ethereum network or do you have plans to migrate to your own mainnet?Daniel: We focus on the protocol layer, which means we can move to other networks. But for the near term, we’ll stick to Ethereum as I see it as the best ecosystem for dApps. The DEX chain we mentioned is NOT a Loopring mainnet, we co-develop it with another team, we focus on protocol, they focus on cross-chain. There will never be a Loopring mainnet.BTW, I don’t think any existing DEX protocols are good enough for large scale adoption. Counting on the underlying blockchain to scale up is a bad idea. Here at Loopring, we are trying to scale the protocol using other means. We plan to go to Paris to attend a couple of Ethereum Dev Conference to show some of our work in March and April. So stay tuned.— Thanks for the questions everyone and to Ethfinex!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Ethfinex Telegram AMA with Loopring’s Daniel Wang was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 16

Loopring Announced New Par ...

Loopring Collaboration with Bitfwd CommunityLoopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.Loopring has established a joint research initiative with bitfwd community in Sydney, powered by Founders 10x Accelerator. Founders 10x Accelerator is tailored for high-potential University of New South Wales startups who want to strengthen their entrepreneurship skills and accelerate their ventures to be investor-ready.The initiative is tasked with building open source, free, products to support the blockchain community. Loopring looks forward to bringing decentralized trading experiences and expanding its DEX ecosystem to Australia.Daniel Bar, chairman and co-founder of bitfwd commented:“Australia has managed to create a very favourable environment for companies operating within the blockchain and broader fintech ecosystem. Loopring recently visited Australia and has developed strong relations with Bitfwd and some top Australian universities. We look forward to expanding our operations to Australia with the Loopring team.”About bitfwdbitfwd is a grassroots community of cypherpunks, blockchain developers, entrepreneurs, and crypto enthusiasts. We bring together resources, content and educational activities. They organize blockathons, but they also run workshops, developer sessions, publish content, and contribute open source codebase through community initiatives. They currently have a network of blockchain developers communities that is spread between Australia, New Zealand, Singapore, and China.@Founders 10x accelerator UNSWPlease reach out to jay@loopring.org for more information. Thank you!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Announced New Partnership with Bitfwd ! was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 14

Loopring Announced New Par ...

Loopring Collaboration with Bitfwd CommunityLoopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.Loopring has established a joint research initiative with bitfwd community in Sydney, powered by Founders 10x Accelerator. Founders 10x Accelerator is tailored for high-potential University of New South Wales startups who want to strengthen their entrepreneurship skills and accelerate their ventures to be investor-ready.The initiative is tasked with building open source, free, products to support the blockchain community. Loopring looks forward to bringing decentralized trading experiences and expanding its DEX ecosystem to Australia.Daniel Bar, chairman and co-founder of bitfwd commented:“Australia has managed to create a very favourable environment for companies operating within the blockchain and broader fintech ecosystem. Loopring recently visited Australia and has developed strong relations with Bitfwd and some top Australian universities. We look forward to expanding our operations to Australia with the Loopring team.”About bitfwdbitfwd is a grassroots community of cypherpunks, blockchain developers, entrepreneurs, and crypto enthusiasts. We bring together resources, content and educational activities. They organize blockathons, but they also run workshops, developer sessions, publish content, and contribute open source codebase through community initiatives. They currently have a network of blockchain developers communities that is spread between Australia, New Zealand, Singapore, and China.@Founders 10x accelerator UNSWPlease reach out to jay@loopring.org for more information. Thank you!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Announced New Partnership with Bitfwd ! was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 14

Loopring Announced New Par ...

Loopring Collaboration with Bitfwd CommunityLoopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.Loopring has established a joint research initiative with bitfwd community in Sydney, powered by Founders 10x Accelerator. Founders 10x Accelerator is tailored for high-potential University of New South Wales startups who want to strengthen their entrepreneurship skills and accelerate their ventures to be investor-ready.The initiative is tasked with building open source, free, products to support the blockchain community. Loopring looks forward to bringing decentralized trading experiences and expanding its DEX ecosystem to Australia.Daniel Bar, chairman and co-founder of bitfwd commented:“Australia has managed to create a very favourable environment for companies operating within the blockchain and broader fintech ecosystem. Loopring recently visited Australia and has developed strong relations with Bitfwd and some top Australian universities. We look forward to expanding our operations to Australia with the Loopring team.”About bitfwdbitfwd is a grassroots community of cypherpunks, blockchain developers, entrepreneurs, and crypto enthusiasts. We bring together resources, content and educational activities. They organize blockathons, but they also run workshops, developer sessions, publish content, and contribute open source codebase through community initiatives. They currently have a network of blockchain developers communities that is spread between Australia, New Zealand, Singapore, and China.@Founders 10x accelerator UNSWPlease reach out to jay@loopring.org for more information. Thank you!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Announced New Partnership with Bitfwd ! was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 14

Loopring Announced New Par ...

Loopring Collaboration with Bitfwd CommunityLoopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.Loopring has established a joint research initiative with bitfwd community in Sydney, powered by Founders 10x Accelerator. Founders 10x Accelerator is tailored for high-potential University of New South Wales startups who want to strengthen their entrepreneurship skills and accelerate their ventures to be investor-ready.The initiative is tasked with building open source, free, products to support the blockchain community. Loopring looks forward to bringing decentralized trading experiences and expanding its DEX ecosystem to Australia.Daniel Bar, chairman and co-founder of bitfwd commented:“Australia has managed to create a very favourable environment for companies operating within the blockchain and broader fintech ecosystem. Loopring recently visited Australia and has developed strong relations with Bitfwd and some top Australian universities. We look forward to expanding our operations to Australia with the Loopring team.”About bitfwdbitfwd is a grassroots community of cypherpunks, blockchain developers, entrepreneurs, and crypto enthusiasts. We bring together resources, content and educational activities. They organize blockathons, but they also run workshops, developer sessions, publish content, and contribute open source codebase through community initiatives. They currently have a network of blockchain developers communities that is spread between Australia, New Zealand, Singapore, and China.@Founders 10x accelerator UNSWPlease reach out to jay@loopring.org for more information. Thank you!To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Announced New Partnership with Bitfwd ! was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 14

PwC & Loopring: Stablecoin ...

Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed VersionsA few months ago, the Loopring Foundation and PwC China began working together to explore some of the greatest opportunities and challenges facing the blockchain and cryptocurrency ecosystem, as well as traditional corporations who are navigating its effects on their industries.Our first order of business was to dig deep on the topic of stablecoins — one of the most active areas of 2018, and potentially 2019.We are pleased to release this comprehensive 29 page report which should provide a most thorough overview of the matter, with a particular focus on use cases, usage, and the regulatory considerations facing compliant fiat-backed models. We also present a ‘Trust Framework’ for fiat-backed coins.You can read or download the full report here: https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfBottom Left: Our ‘Trust Framework’ for fiatcoinsFor something that is designed to be stable (and to some, ‘boring’), it is truly a broad and exciting topic. We’ve seen so many themes occur even in the past few months: from a flood of regulated fiatcoins challenging Tether’s dominance (albeit slowly), to MakerDAO’s DAI becoming so foundational to Ethereum’s decentralized financial movement with seemingly nothing able to escape its gravitational pull (now holding 2% of all ETH in CDPs), to Basis shutting down and the algorithmic model remaining ever so elusive — stablecoins are surprisingly riveting!Left: As at end of December 2018It is our view that stablecoins are complementary to ‘normal’ (non- pegged) cryptocurrencies, at least — or especially — in the short to medium term. With reduced volatility, much of the latent demand and use cases have the opportunity to engage with a new tokenised economy, and see firsthand the benefits afforded.In the long term, normal cryptocurrencies — specifically the ‘payment’ variety such as BTC — seek to become an alternate monetary asset in parallel — or in lieu of — fiat currencies. For that goal, pegging price to fiat currency, or any value index, would defeat the purpose. To reach that reality, however — where new forms of money may proliferate — price-stable cryptocurrencies may represent the single best hope, bridge and educational tool.Moving forward, we’ll monitor how these themes continue to play out, how crypto and traditional businesses may use them as strategic tools, and how the stablecoin may very well be the first mass adopted blockchain ‘product’.We’ll end with the paper’s conclusion, which provides a bit of insight into how we have come to view this part of the ecosystem following our research.The currencies we care about are the ones we see all around us — the ones that denominate our lives. Our affinity for any currency depends on its relative stability to however we buy, earn, and save. This, in turn, is derived from our peers, nation, and society at large feeling similarly confident and comfortable in the same.Currency is the quantifier of our wealth and its purchasing power, and, crucially, rests on the reasonable expectation that tomorrow will not be too different than today. Failing to satisfy this credible commitment to straightforwardness simply precludes people from making rational decisions and long-term investment.In some sense, stable currencies are the equivalent of a commonly spoken language; compulsory for coordination and cooperation.What should be clear is that no matter the mechanism, confidence is the key ingredient in maintaining stability. The underlying means are of course important, but from a theoretical perspective, everyone’s belief that a stablecoin should be worth 1 USD — and their subsequent willingness to buy/sell/convert for 1 USD — is a sufficiently self- perpetuating phenomenon to keep it stable. In fact, confidence is what keeps fiat currencies ‘stable’ in the first place: confidence in monetary policy, or at least confidence in the credible commitment to pursue the policy that a central bank has signalled.For fiatcoins, the confidence is most basically a testament that there is limited counterparty risk from the issuer (or the issuer’s banks). For the on-chain and algorithmic methods, it is mostly a testament to faith in the smart contracts and to users’ rationality and self-interest.No matter the mechanism, it’s exceedingly important for these issuers or developers to take their roles and stablecoins seriously; these assets may hold users’ savings, not an allocation to long-shot speculation. Failure — be it fiduciary, legal, technical — could have catastrophic repercussions for token holders and the cryptoasset industry at large.To some, there is a sentiment of saturation in the stablecoin market. It’s fair to question the point of another coin worth USD$1 or HK$1. However, we believe there are useful reasons for why more can be expected, and why that’s a good thing.Chief among them is that more coins likely means reaching more people. Issuers have idiosyncrasies in pegs, geographies, platforms, compliance and marketing. Any onboarding of users into a blockchain-based world is unambiguously good for the ecosystem, especially considering the comprehension barrier. It may also mean reaching the people who need it most.The market will also likely see many more fiatcoins in particular, for the simple reason that it makes business- sense for their issuers. Given that fiatcoins have zero or negligible fees for creation/redemption, the real value it provides issuers is the ability to aggregate users, amass data, and feed them into an ecosystem of ancillary products/services such as wallets, exchanges, etc. Just like in Web2.0, aggregation theory, for better or worse, may still be a winning strategy[94]. With this in mind, we may see a different sort of centralised issuer in 2019; already pervasively popular platforms, such as Facebook or Amazon[95].Secondly — pertaining only to the decentralised varieties — given its difficulty, a trustless stablecoin has near mythical meaning. Designing decentralised price-stable cryptocurrencies are hard problems, and there is no reason to believe that we will get it right the first or fiftieth time; the likelihood of any solution’s mid-to-long term success is probabilistically low[96].Finally, the greatest argument for more stablecoins is the same argument for more of anything related to building on blockchains: experimentation, especially with new forms of money. The unknown unknowns are plentiful, but the design space is much more fertile with stable units of value.https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfbody[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}We present you: Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed Versions - a joint study by @PwC_China and @loopringorg. You can download the paper now https://t.co/Qdi4snVHcA #PwC #Loopring #stablecoin $LRC — @loopringorgfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}We welcome and appreciate all feedback; please reach out to any of us on the Loopring or PwC China teams. Contact info can be seen above. Thank you.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)PwC & Loopring: Stablecoin Report was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 13

PwC & Loopring: Stablecoin ...

Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed VersionsA few months ago, the Loopring Foundation and PwC China began working together to explore some of the greatest opportunities and challenges facing the blockchain and cryptocurrency ecosystem, as well as traditional corporations who are navigating its effects on their industries.Our first order of business was to dig deep on the topic of stablecoins — one of the most active areas of 2018, and potentially 2019.We are pleased to release this comprehensive 29 page report which should provide a most thorough overview of the matter, with a particular focus on use cases, usage, and the regulatory considerations facing compliant fiat-backed models. We also present a ‘Trust Framework’ for fiat-backed coins.You can read or download the full report here: https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfBottom Left: Our ‘Trust Framework’ for fiatcoinsFor something that is designed to be stable (and to some, ‘boring’), it is truly a broad and exciting topic. We’ve seen so many themes occur even in the past few months: from a flood of regulated fiatcoins challenging Tether’s dominance (albeit slowly), to MakerDAO’s DAI becoming so foundational to Ethereum’s decentralized financial movement with seemingly nothing able to escape its gravitational pull (now holding 2% of all ETH in CDPs), to Basis shutting down and the algorithmic model remaining ever so elusive — stablecoins are surprisingly riveting!Left: As at end of December 2018It is our view that stablecoins are complementary to ‘normal’ (non- pegged) cryptocurrencies, at least — or especially — in the short to medium term. With reduced volatility, much of the latent demand and use cases have the opportunity to engage with a new tokenised economy, and see firsthand the benefits afforded.In the long term, normal cryptocurrencies — specifically the ‘payment’ variety such as BTC — seek to become an alternate monetary asset in parallel — or in lieu of — fiat currencies. For that goal, pegging price to fiat currency, or any value index, would defeat the purpose. To reach that reality, however — where new forms of money may proliferate — price-stable cryptocurrencies may represent the single best hope, bridge and educational tool.Moving forward, we’ll monitor how these themes continue to play out, how crypto and traditional businesses may use them as strategic tools, and how the stablecoin may very well be the first mass adopted blockchain ‘product’.We’ll end with the paper’s conclusion, which provides a bit of insight into how we have come to view this part of the ecosystem following our research.The currencies we care about are the ones we see all around us — the ones that denominate our lives. Our affinity for any currency depends on its relative stability to however we buy, earn, and save. This, in turn, is derived from our peers, nation, and society at large feeling similarly confident and comfortable in the same.Currency is the quantifier of our wealth and its purchasing power, and, crucially, rests on the reasonable expectation that tomorrow will not be too different than today. Failing to satisfy this credible commitment to straightforwardness simply precludes people from making rational decisions and long-term investment.In some sense, stable currencies are the equivalent of a commonly spoken language; compulsory for coordination and cooperation.What should be clear is that no matter the mechanism, confidence is the key ingredient in maintaining stability. The underlying means are of course important, but from a theoretical perspective, everyone’s belief that a stablecoin should be worth 1 USD — and their subsequent willingness to buy/sell/convert for 1 USD — is a sufficiently self- perpetuating phenomenon to keep it stable. In fact, confidence is what keeps fiat currencies ‘stable’ in the first place: confidence in monetary policy, or at least confidence in the credible commitment to pursue the policy that a central bank has signalled.For fiatcoins, the confidence is most basically a testament that there is limited counterparty risk from the issuer (or the issuer’s banks). For the on-chain and algorithmic methods, it is mostly a testament to faith in the smart contracts and to users’ rationality and self-interest.No matter the mechanism, it’s exceedingly important for these issuers or developers to take their roles and stablecoins seriously; these assets may hold users’ savings, not an allocation to long-shot speculation. Failure — be it fiduciary, legal, technical — could have catastrophic repercussions for token holders and the cryptoasset industry at large.To some, there is a sentiment of saturation in the stablecoin market. It’s fair to question the point of another coin worth USD$1 or HK$1. However, we believe there are useful reasons for why more can be expected, and why that’s a good thing.Chief among them is that more coins likely means reaching more people. Issuers have idiosyncrasies in pegs, geographies, platforms, compliance and marketing. Any onboarding of users into a blockchain-based world is unambiguously good for the ecosystem, especially considering the comprehension barrier. It may also mean reaching the people who need it most.The market will also likely see many more fiatcoins in particular, for the simple reason that it makes business- sense for their issuers. Given that fiatcoins have zero or negligible fees for creation/redemption, the real value it provides issuers is the ability to aggregate users, amass data, and feed them into an ecosystem of ancillary products/services such as wallets, exchanges, etc. Just like in Web2.0, aggregation theory, for better or worse, may still be a winning strategy[94]. With this in mind, we may see a different sort of centralised issuer in 2019; already pervasively popular platforms, such as Facebook or Amazon[95].Secondly — pertaining only to the decentralised varieties — given its difficulty, a trustless stablecoin has near mythical meaning. Designing decentralised price-stable cryptocurrencies are hard problems, and there is no reason to believe that we will get it right the first or fiftieth time; the likelihood of any solution’s mid-to-long term success is probabilistically low[96].Finally, the greatest argument for more stablecoins is the same argument for more of anything related to building on blockchains: experimentation, especially with new forms of money. The unknown unknowns are plentiful, but the design space is much more fertile with stable units of value.https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfbody[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}We present you: Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed Versions - a joint study by @PwC_China and @loopringorg. You can download the paper now https://t.co/Qdi4snVHcA #PwC #Loopring #stablecoin $LRC — @loopringorgfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}We welcome and appreciate all feedback; please reach out to any of us on the Loopring or PwC China teams. Contact info can be seen above. Thank you.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)PwC & Loopring: Stablecoin Report was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 13

PwC & Loopring: Stablecoin ...

Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed VersionsA few months ago, the Loopring Foundation and PwC China began working together to explore some of the greatest opportunities and challenges facing the blockchain and cryptocurrency ecosystem, as well as traditional corporations who are navigating its effects on their industries.Our first order of business was to dig deep on the topic of stablecoins — one of the most active areas of 2018, and potentially 2019.We are pleased to release this comprehensive 29 page report which should provide a most thorough overview of the matter, with a particular focus on use cases, usage, and the regulatory considerations facing compliant fiat-backed models. We also present a ‘Trust Framework’ for fiat-backed coins.You can read or download the full report here: https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfBottom Left: Our ‘Trust Framework’ for fiatcoinsFor something that is designed to be stable (and to some, ‘boring’), it is truly a broad and exciting topic. We’ve seen so many themes occur even in the past few months: from a flood of regulated fiatcoins challenging Tether’s dominance (albeit slowly), to MakerDAO’s DAI becoming so foundational to Ethereum’s decentralized financial movement with seemingly nothing able to escape its gravitational pull (now holding 2% of all ETH in CDPs), to Basis shutting down and the algorithmic model remaining ever so elusive — stablecoins are surprisingly riveting!Left: As at end of December 2018It is our view that stablecoins are complementary to ‘normal’ (non- pegged) cryptocurrencies, at least — or especially — in the short to medium term. With reduced volatility, much of the latent demand and use cases have the opportunity to engage with a new tokenised economy, and see firsthand the benefits afforded.In the long term, normal cryptocurrencies — specifically the ‘payment’ variety such as BTC — seek to become an alternate monetary asset in parallel — or in lieu of — fiat currencies. For that goal, pegging price to fiat currency, or any value index, would defeat the purpose. To reach that reality, however — where new forms of money may proliferate — price-stable cryptocurrencies may represent the single best hope, bridge and educational tool.Moving forward, we’ll monitor how these themes continue to play out, how crypto and traditional businesses may use them as strategic tools, and how the stablecoin may very well be the first mass adopted blockchain ‘product’.We’ll end with the paper’s conclusion, which provides a bit of insight into how we have come to view this part of the ecosystem following our research.The currencies we care about are the ones we see all around us — the ones that denominate our lives. Our affinity for any currency depends on its relative stability to however we buy, earn, and save. This, in turn, is derived from our peers, nation, and society at large feeling similarly confident and comfortable in the same.Currency is the quantifier of our wealth and its purchasing power, and, crucially, rests on the reasonable expectation that tomorrow will not be too different than today. Failing to satisfy this credible commitment to straightforwardness simply precludes people from making rational decisions and long-term investment.In some sense, stable currencies are the equivalent of a commonly spoken language; compulsory for coordination and cooperation.What should be clear is that no matter the mechanism, confidence is the key ingredient in maintaining stability. The underlying means are of course important, but from a theoretical perspective, everyone’s belief that a stablecoin should be worth 1 USD — and their subsequent willingness to buy/sell/convert for 1 USD — is a sufficiently self- perpetuating phenomenon to keep it stable. In fact, confidence is what keeps fiat currencies ‘stable’ in the first place: confidence in monetary policy, or at least confidence in the credible commitment to pursue the policy that a central bank has signalled.For fiatcoins, the confidence is most basically a testament that there is limited counterparty risk from the issuer (or the issuer’s banks). For the on-chain and algorithmic methods, it is mostly a testament to faith in the smart contracts and to users’ rationality and self-interest.No matter the mechanism, it’s exceedingly important for these issuers or developers to take their roles and stablecoins seriously; these assets may hold users’ savings, not an allocation to long-shot speculation. Failure — be it fiduciary, legal, technical — could have catastrophic repercussions for token holders and the cryptoasset industry at large.To some, there is a sentiment of saturation in the stablecoin market. It’s fair to question the point of another coin worth USD$1 or HK$1. However, we believe there are useful reasons for why more can be expected, and why that’s a good thing.Chief among them is that more coins likely means reaching more people. Issuers have idiosyncrasies in pegs, geographies, platforms, compliance and marketing. Any onboarding of users into a blockchain-based world is unambiguously good for the ecosystem, especially considering the comprehension barrier. It may also mean reaching the people who need it most.The market will also likely see many more fiatcoins in particular, for the simple reason that it makes business- sense for their issuers. Given that fiatcoins have zero or negligible fees for creation/redemption, the real value it provides issuers is the ability to aggregate users, amass data, and feed them into an ecosystem of ancillary products/services such as wallets, exchanges, etc. Just like in Web2.0, aggregation theory, for better or worse, may still be a winning strategy[94]. With this in mind, we may see a different sort of centralised issuer in 2019; already pervasively popular platforms, such as Facebook or Amazon[95].Secondly — pertaining only to the decentralised varieties — given its difficulty, a trustless stablecoin has near mythical meaning. Designing decentralised price-stable cryptocurrencies are hard problems, and there is no reason to believe that we will get it right the first or fiftieth time; the likelihood of any solution’s mid-to-long term success is probabilistically low[96].Finally, the greatest argument for more stablecoins is the same argument for more of anything related to building on blockchains: experimentation, especially with new forms of money. The unknown unknowns are plentiful, but the design space is much more fertile with stable units of value.https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfbody[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}We present you: Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed Versions - a joint study by @PwC_China and @loopringorg. You can download the paper now https://t.co/Qdi4snVHcA #PwC #Loopring #stablecoin $LRC — @loopringorgfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}We welcome and appreciate all feedback; please reach out to any of us on the Loopring or PwC China teams. Contact info can be seen above. Thank you.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)PwC & Loopring: Stablecoin Report was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 13

PwC & Loopring: Stablecoin ...

Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed VersionsA few months ago, the Loopring Foundation and PwC China began working together to explore some of the greatest opportunities and challenges facing the blockchain and cryptocurrency ecosystem, as well as traditional corporations who are navigating its effects on their industries.Our first order of business was to dig deep on the topic of stablecoins — one of the most active areas of 2018, and potentially 2019.We are pleased to release this comprehensive 29 page report which should provide a most thorough overview of the matter, with a particular focus on use cases, usage, and the regulatory considerations facing compliant fiat-backed models. We also present a ‘Trust Framework’ for fiat-backed coins.You can read or download the full report here: https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfBottom Left: Our ‘Trust Framework’ for fiatcoinsFor something that is designed to be stable (and to some, ‘boring’), it is truly a broad and exciting topic. We’ve seen so many themes occur even in the past few months: from a flood of regulated fiatcoins challenging Tether’s dominance (albeit slowly), to MakerDAO’s DAI becoming so foundational to Ethereum’s decentralized financial movement with seemingly nothing able to escape its gravitational pull (now holding 2% of all ETH in CDPs), to Basis shutting down and the algorithmic model remaining ever so elusive — stablecoins are surprisingly riveting!Left: As at end of December 2018It is our view that stablecoins are complementary to ‘normal’ (non- pegged) cryptocurrencies, at least — or especially — in the short to medium term. With reduced volatility, much of the latent demand and use cases have the opportunity to engage with a new tokenised economy, and see firsthand the benefits afforded.In the long term, normal cryptocurrencies — specifically the ‘payment’ variety such as BTC — seek to become an alternate monetary asset in parallel — or in lieu of — fiat currencies. For that goal, pegging price to fiat currency, or any value index, would defeat the purpose. To reach that reality, however — where new forms of money may proliferate — price-stable cryptocurrencies may represent the single best hope, bridge and educational tool.Moving forward, we’ll monitor how these themes continue to play out, how crypto and traditional businesses may use them as strategic tools, and how the stablecoin may very well be the first mass adopted blockchain ‘product’.We’ll end with the paper’s conclusion, which provides a bit of insight into how we have come to view this part of the ecosystem following our research.The currencies we care about are the ones we see all around us — the ones that denominate our lives. Our affinity for any currency depends on its relative stability to however we buy, earn, and save. This, in turn, is derived from our peers, nation, and society at large feeling similarly confident and comfortable in the same.Currency is the quantifier of our wealth and its purchasing power, and, crucially, rests on the reasonable expectation that tomorrow will not be too different than today. Failing to satisfy this credible commitment to straightforwardness simply precludes people from making rational decisions and long-term investment.In some sense, stable currencies are the equivalent of a commonly spoken language; compulsory for coordination and cooperation.What should be clear is that no matter the mechanism, confidence is the key ingredient in maintaining stability. The underlying means are of course important, but from a theoretical perspective, everyone’s belief that a stablecoin should be worth 1 USD — and their subsequent willingness to buy/sell/convert for 1 USD — is a sufficiently self- perpetuating phenomenon to keep it stable. In fact, confidence is what keeps fiat currencies ‘stable’ in the first place: confidence in monetary policy, or at least confidence in the credible commitment to pursue the policy that a central bank has signalled.For fiatcoins, the confidence is most basically a testament that there is limited counterparty risk from the issuer (or the issuer’s banks). For the on-chain and algorithmic methods, it is mostly a testament to faith in the smart contracts and to users’ rationality and self-interest.No matter the mechanism, it’s exceedingly important for these issuers or developers to take their roles and stablecoins seriously; these assets may hold users’ savings, not an allocation to long-shot speculation. Failure — be it fiduciary, legal, technical — could have catastrophic repercussions for token holders and the cryptoasset industry at large.To some, there is a sentiment of saturation in the stablecoin market. It’s fair to question the point of another coin worth USD$1 or HK$1. However, we believe there are useful reasons for why more can be expected, and why that’s a good thing.Chief among them is that more coins likely means reaching more people. Issuers have idiosyncrasies in pegs, geographies, platforms, compliance and marketing. Any onboarding of users into a blockchain-based world is unambiguously good for the ecosystem, especially considering the comprehension barrier. It may also mean reaching the people who need it most.The market will also likely see many more fiatcoins in particular, for the simple reason that it makes business- sense for their issuers. Given that fiatcoins have zero or negligible fees for creation/redemption, the real value it provides issuers is the ability to aggregate users, amass data, and feed them into an ecosystem of ancillary products/services such as wallets, exchanges, etc. Just like in Web2.0, aggregation theory, for better or worse, may still be a winning strategy[94]. With this in mind, we may see a different sort of centralised issuer in 2019; already pervasively popular platforms, such as Facebook or Amazon[95].Secondly — pertaining only to the decentralised varieties — given its difficulty, a trustless stablecoin has near mythical meaning. Designing decentralised price-stable cryptocurrencies are hard problems, and there is no reason to believe that we will get it right the first or fiftieth time; the likelihood of any solution’s mid-to-long term success is probabilistically low[96].Finally, the greatest argument for more stablecoins is the same argument for more of anything related to building on blockchains: experimentation, especially with new forms of money. The unknown unknowns are plentiful, but the design space is much more fertile with stable units of value.https://loopring.org/resources/pwc-loopring-stablecoin-paper.pdfbody[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}We present you: Emergence of Stable Value Coins and A Trust Framework For Fiat-Backed Versions - a joint study by @PwC_China and @loopringorg. You can download the paper now https://t.co/Qdi4snVHcA #PwC #Loopring #stablecoin $LRC — @loopringorgfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}We welcome and appreciate all feedback; please reach out to any of us on the Loopring or PwC China teams. Contact info can be seen above. Thank you.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)PwC & Loopring: Stablecoin Report was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 13

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 02/02/2019Due to the Chinese New Year holidays, our next bi-weekly update will be released on March 3rd. Happy and healthy holidays to all celebrating!Protocol 2.0In Protocol development, we have implemented, deployed and tested the ST20 security token standard, that of Polymath, on Ethereum mainnet. It’s a relatively simple version of a security token, and a precursor to the ERC1400 standard which we have also implemented support for.Besides that, we have continued working with the Dora team on order matching on our application-specific sidechain and integration tests.We have also further specified Protocol 3.0, and begun development. We will share more information with the community on this as soon as possible. It has us extremely excited!RelayLightcone (Relay 2.0)During the last two weeks, we have continued optimizations for Relay 2.0. We have implemented line charts, customized token, trade history, order cancellation and so on. To improve the system stability, we are going to review all functionalities and workflows. We have completed review for order submission and order recovery. In addition, we have implemented test environment deployment, logging, monitoring and alerts. We have written API documents for new API endpoints. We believe that we are going to launch the Relay in production environment very soon.Frontend & ProductiOS & AndroidUP Wallet has released version 1.6.1 and 1.6.2, which focuses on optimizations for the cryptocurrency news feed section. You can now read cryptocurrency news by tokens now. At the same time, we have improved UI and updated icons in many pages. We have fixed bugs in the DEX component in the Android app, improving the app stability. Check out iOS and Android.Operations & Marketing01/19/2019 — LRC is available to trade with zero maker fees on Ethfinex, a full-featured hybrid Ethereum exchange platform.01/22/2019 — Bithumb re-opens LRC deposit and withdrawal, great news for Loopring Korean Community.01/22/2019 — LRC is available on the eo.finance wallet. Send, receive and store LRC on their mobile, web, or browser extension wallet.01/25/2019 — LRC is available for direct euro swapping at Elastum, a simple, non-order book exchange portal.01/26/2019 — Loopring Protocol founder, Daniel Wang, hosts a Reddit AMA to answer the community’s questions.01/28/2019 — Loopring CMO Jay was invited by Ernst & Young to join a EYTech Blockchain learn and share workshop with Microsoft Startups.01/28/2019 — Loopring publishes “Update on Loopring’s Long-Term Incentive Program”, describing how to maximize earnings in the lock-up period and how to withdraw LRC tokens.01/28/2019 — Loopring CMO, Jay Zhou, and Crypto Koala hosts a video AMA to discuss the Loopring project.01/29/2019 — Loopring BD director, Matthew, attended an Ethereum Meetup in Montreal where Louis Cleroux, CEO of Timechain, showed progress on their mobile wallet, including Loopring integration.Louis of Timechain showing Loopring mobile native DEX integration01/30/2019 — Loopring COO Johnston is interviewed by Jinse Finance, a Chinese media outlet, and shares thoughts regarding the trends of technology development.01/30/2019 — WBTC is officially live on Ethereum. Loopring is excited to be in the DAO, works amongst strong peers, and help advance the DeFi ecosystem.02/01/2019 — Adam and Corey, co-founders of Loopring-based DEX, Dolomite, go on the Daily Exchange talk show to talk about Dolomite, the state of DEXs, and the Loopring Protocol. Dolomite then announces the release of their Slate Market API. Check it out!https://medium.com/media/adfa9c510bb5a713e75cd5bab106e168/hrefLoopring CEO and founder, Daniel Wang, has made a Chinese New Year greeting video to the Loopring community. Click to watch.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 02/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 02

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 02/02/2019Due to the Chinese New Year holidays, our next bi-weekly update will be released on March 3rd. Happy and healthy holidays to all celebrating!Protocol 2.0In Protocol development, we have implemented, deployed and tested the ST20 security token standard, that of Polymath, on Ethereum mainnet. It’s a relatively simple version of a security token, and a precursor to the ERC1400 standard which we have also implemented support for.Besides that, we have continued working with the Dora team on order matching on our application-specific sidechain and integration tests.We have also further specified Protocol 3.0, and begun development. We will share more information with the community on this as soon as possible. It has us extremely excited!RelayLightcone (Relay 2.0)During the last two weeks, we have continued optimizations for Relay 2.0. We have implemented line charts, customized token, trade history, order cancellation and so on. To improve the system stability, we are going to review all functionalities and workflows. We have completed review for order submission and order recovery. In addition, we have implemented test environment deployment, logging, monitoring and alerts. We have written API documents for new API endpoints. We believe that we are going to launch the Relay in production environment very soon.Frontend & ProductiOS & AndroidUP Wallet has released version 1.6.1 and 1.6.2, which focuses on optimizations for the cryptocurrency news feed section. You can now read cryptocurrency news by tokens now. At the same time, we have improved UI and updated icons in many pages. We have fixed bugs in the DEX component in the Android app, improving the app stability. Check out iOS and Android.Operations & Marketing01/19/2019 — LRC is available to trade with zero maker fees on Ethfinex, a full-featured hybrid Ethereum exchange platform.01/22/2019 — Bithumb re-opens LRC deposit and withdrawal, great news for Loopring Korean Community.01/22/2019 — LRC is available on the eo.finance wallet. Send, receive and store LRC on their mobile, web, or browser extension wallet.01/25/2019 — LRC is available for direct euro swapping at Elastum, a simple, non-order book exchange portal.01/26/2019 — Loopring Protocol founder, Daniel Wang, hosts a Reddit AMA to answer the community’s questions.01/28/2019 — Loopring CMO Jay was invited by Ernst & Young to join a EYTech Blockchain learn and share workshop with Microsoft Startups.01/28/2019 — Loopring publishes “Update on Loopring’s Long-Term Incentive Program”, describing how to maximize earnings in the lock-up period and how to withdraw LRC tokens.01/28/2019 — Loopring CMO, Jay Zhou, and Crypto Koala hosts a video AMA to discuss the Loopring project.01/29/2019 — Loopring BD director, Matthew, attended an Ethereum Meetup in Montreal where Louis Cleroux, CEO of Timechain, showed progress on their mobile wallet, including Loopring integration.Louis of Timechain showing Loopring mobile native DEX integration01/30/2019 — Loopring COO Johnston is interviewed by Jinse Finance, a Chinese media outlet, and shares thoughts regarding the trends of technology development.01/30/2019 — WBTC is officially live on Ethereum. Loopring is excited to be in the DAO, works amongst strong peers, and help advance the DeFi ecosystem.02/01/2019 — Adam and Corey, co-founders of Loopring-based DEX, Dolomite, go on the Daily Exchange talk show to talk about Dolomite, the state of DEXs, and the Loopring Protocol. Dolomite then announces the release of their Slate Market API. Check it out!https://medium.com/media/adfa9c510bb5a713e75cd5bab106e168/hrefLoopring CEO and founder, Daniel Wang, has made a Chinese New Year greeting video to the Loopring community. Click to watch.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 02/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 02

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 02/02/2019Due to the Chinese New Year holidays, our next bi-weekly update will be released on March 3rd. Happy and healthy holidays to all celebrating!Protocol 2.0In Protocol development, we have implemented, deployed and tested the ST20 security token standard, that of Polymath, on Ethereum mainnet. It’s a relatively simple version of a security token, and a precursor to the ERC1400 standard which we have also implemented support for.Besides that, we have continued working with the Dora team on order matching on our application-specific sidechain and integration tests.We have also further specified Protocol 3.0, and begun development. We will share more information with the community on this as soon as possible. It has us extremely excited!RelayLightcone (Relay 2.0)During the last two weeks, we have continued optimizations for Relay 2.0. We have implemented line charts, customized token, trade history, order cancellation and so on. To improve the system stability, we are going to review all functionalities and workflows. We have completed review for order submission and order recovery. In addition, we have implemented test environment deployment, logging, monitoring and alerts. We have written API documents for new API endpoints. We believe that we are going to launch the Relay in production environment very soon.Frontend & ProductiOS & AndroidUP Wallet has released version 1.6.1 and 1.6.2, which focuses on optimizations for the cryptocurrency news feed section. You can now read cryptocurrency news by tokens now. At the same time, we have improved UI and updated icons in many pages. We have fixed bugs in the DEX component in the Android app, improving the app stability. Check out iOS and Android.Operations & Marketing01/19/2019 — LRC is available to trade with zero maker fees on Ethfinex, a full-featured hybrid Ethereum exchange platform.01/22/2019 — Bithumb re-opens LRC deposit and withdrawal, great news for Loopring Korean Community.01/22/2019 — LRC is available on the eo.finance wallet. Send, receive and store LRC on their mobile, web, or browser extension wallet.01/25/2019 — LRC is available for direct euro swapping at Elastum, a simple, non-order book exchange portal.01/26/2019 — Loopring Protocol founder, Daniel Wang, hosts a Reddit AMA to answer the community’s questions.01/28/2019 — Loopring CMO Jay was invited by Ernst & Young to join a EYTech Blockchain learn and share workshop with Microsoft Startups.01/28/2019 — Loopring publishes “Update on Loopring’s Long-Term Incentive Program”, describing how to maximize earnings in the lock-up period and how to withdraw LRC tokens.01/28/2019 — Loopring CMO, Jay Zhou, and Crypto Koala hosts a video AMA to discuss the Loopring project.01/29/2019 — Loopring BD director, Matthew, attended an Ethereum Meetup in Montreal where Louis Cleroux, CEO of Timechain, showed progress on their mobile wallet, including Loopring integration.Louis of Timechain showing Loopring mobile native DEX integration01/30/2019 — Loopring COO Johnston is interviewed by Jinse Finance, a Chinese media outlet, and shares thoughts regarding the trends of technology development.01/30/2019 — WBTC is officially live on Ethereum. Loopring is excited to be in the DAO, works amongst strong peers, and help advance the DeFi ecosystem.02/01/2019 — Adam and Corey, co-founders of Loopring-based DEX, Dolomite, go on the Daily Exchange talk show to talk about Dolomite, the state of DEXs, and the Loopring Protocol. Dolomite then announces the release of their Slate Market API. Check it out!https://medium.com/media/adfa9c510bb5a713e75cd5bab106e168/hrefLoopring CEO and founder, Daniel Wang, has made a Chinese New Year greeting video to the Loopring community. Click to watch.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 02/02/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 02. 02

On Loopring’s Long-Term In ...

Update on Loopring’s Long-Term Incentive ProgramFollowing our token generation event on August 30, 2017, Loopring Foundation kicked off a ‘long-term incentive program’ to motivate long-term supporters in our community. This was implemented at the following smart contract: https://etherscan.io/address/longterm.lrctoken.eth. The initial post describing the program launch can be found here.The program allowed LRC token holders to deposit their LRC tokens into an open-source Ethereum smart contract, with the tokens being locked for 18 months after participation. The participation period lasted for 2 months. The first participant will be able to withdraw his/her tokens on February 22, 2019. This post will describe how to maximize earnings in the lock-up period and how to withdraw LRC tokens.Rate of returnParticipants can claim a total of 50,177,628 LRC in rewards from Loopring’s long-term incentive program: 50 million LRC having been offered by the Loopring Foundation and 177,628 LRC contributed by the community. Investors initially locked up a total of 65,144,894 LRC tokens, meaning there is a total of 115,322,522 LRC in the contract, with an average rate of return of 177%.It’s worth noting that the actual rate of return for any participant will depend on the timing of their withdrawal. The earlier you withdraw LRC tokens, the lower the rate of return you will receive; the later you withdraw the tokens, the higher the rate of return.For example, suppose that participants withdraw LRC in increments of 10,000, the rate of return of the first 10 and the last 10 are as follows:ROI per 10,000 LRC withdrawalsIt can be seen that the last person to withdraw 10,000 LRC will receive over 850% rate of return. If investors withdraw LRC tokens in units of 1000, the comparison of the rate of return of the first 10 and the last 10 will be more noticeable, and the last person will receive a rate of return of ~20x.ROI per 1,000 LRC withdrawalsROI distribution per 10,000 LRC withdrawalsThus, if you withdraw LRC tokens later, the rate of return will be much higher. If investors choose to withdraw tokens when there is a remaining 10,890,000 LRC in the contract, the user’s rate of return will be greater than the average rate of return of 177%.Participants have access to https://etherscan.io/address/longterm.lrctoken.eth#readContract, and at any time you can use the input box (depicted below) to view the actual rate of return you would receive when withdrawing the specific amount of LRC at that moment in time. For example, currently, you can receive 2,346.73 LRC reward (extra) when withdrawing 5,678 LRC. [Note: You must add 18 zeros to the end of the number of tokens when inputting the value.]Query your actual returnHow to withdraw?To withdraw the full amount of LRC tokens you deposited, simply send “0” ETH to longterm.lrctoken.eth (or the smart contract address 0x239dE3a0D6ca5f21601f83327eA2174225eB7156).Upon completing the transaction, the program will send your wallet address the original deposited tokens + any additional tokens earned through interest.You must send the transaction from your wallet address that initially entered the program.Note: We recommend that you use a Gas Limit of at least “90000” to ensure your transaction will be processed successfully. You must have some Ether in your wallet to pay for the Gas fee or your transfer will not be processed.Partial Token WithdrawalIf you want to withdraw a partial amount of tokens, such as “N” LRC, you will need to send a calculated amount of Ether to the smart contract address. Specifically, you will need to send N/10,000,000ETH to the smart contract address.To calculate the amount of Ether required for a partial withdrawal, use the formula below:ExampleIf you originally deposited 1,000,000 tokens into the long-term program, but only wanted to withdraw 100,000 of them after 18 months, you would calculate [100,000/10,000,000 = .01] and send .01 ETH to the smart contract.The program will send your wallet address .01 ETH + 100,000 LRC + any additional LRC earned through interest.A piece of advice:In general: withdraw only when you want to sell LRC immediately.Otherwise, you can withdraw tokens later than others and you will receive a higher rate of return.If you only want to sell a partial amount, then choose to withdraw a partial amount of tokens from the contract, and continue to earn on the rest.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)On Loopring’s Long-Term Incentive Program was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 01. 29

On Loopring’s Long-Term In ...

Update on Loopring’s Long-Term Incentive ProgramFollowing our token generation event on August 30, 2017, Loopring Foundation kicked off a ‘long-term incentive program’ to motivate long-term supporters in our community. This was implemented at the following smart contract: https://etherscan.io/address/longterm.lrctoken.eth. The initial post describing the program launch can be found here.The program allowed LRC token holders to deposit their LRC tokens into an open-source Ethereum smart contract, with the tokens being locked for 18 months after participation. The participation period lasted for 2 months. The first participant will be able to withdraw his/her tokens on February 22, 2019. This post will describe how to maximize earnings in the lock-up period and how to withdraw LRC tokens.Rate of returnParticipants can claim a total of 50,177,628 LRC in rewards from Loopring’s long-term incentive program: 50 million LRC having been offered by the Loopring Foundation and 177,628 LRC contributed by the community. Investors initially locked up a total of 65,144,894 LRC tokens, meaning there is a total of 115,322,522 LRC in the contract, with an average rate of return of 177%.It’s worth noting that the actual rate of return for any participant will depend on the timing of their withdrawal. The earlier you withdraw LRC tokens, the lower the rate of return you will receive; the later you withdraw the tokens, the higher the rate of return.For example, suppose that participants withdraw LRC in increments of 10,000, the rate of return of the first 10 and the last 10 are as follows:ROI per 10,000 LRC withdrawalsIt can be seen that the last person to withdraw 10,000 LRC will receive over 850% rate of return. If investors withdraw LRC tokens in units of 1000, the comparison of the rate of return of the first 10 and the last 10 will be more noticeable, and the last person will receive a rate of return of ~20x.ROI per 1,000 LRC withdrawalsROI distribution per 10,000 LRC withdrawalsThus, if you withdraw LRC tokens later, the rate of return will be much higher. If investors choose to withdraw tokens when there is a remaining 10,890,000 LRC in the contract, the user’s rate of return will be greater than the average rate of return of 177%.Participants have access to https://etherscan.io/address/longterm.lrctoken.eth#readContract, and at any time you can use the input box (depicted below) to view the actual rate of return you would receive when withdrawing the specific amount of LRC at that moment in time. For example, currently, you can receive 2,346.73 LRC reward (extra) when withdrawing 5,678 LRC. [Note: You must add 18 zeros to the end of the number of tokens when inputting the value.]Query your actual returnHow to withdraw?To withdraw the full amount of LRC tokens you deposited, simply send “0” ETH to longterm.lrctoken.eth (or the smart contract address 0x239dE3a0D6ca5f21601f83327eA2174225eB7156).Upon completing the transaction, the program will send your wallet address the original deposited tokens + any additional tokens earned through interest.You must send the transaction from your wallet address that initially entered the program.Note: We recommend that you use a Gas Limit of at least “90000” to ensure your transaction will be processed successfully. You must have some Ether in your wallet to pay for the Gas fee or your transfer will not be processed.Partial Token WithdrawalIf you want to withdraw a partial amount of tokens, such as “N” LRC, you will need to send a calculated amount of Ether to the smart contract address. Specifically, you will need to send N/10,000,000ETH to the smart contract address.To calculate the amount of Ether required for a partial withdrawal, use the formula below:ExampleIf you originally deposited 1,000,000 tokens into the long-term program, but only wanted to withdraw 100,000 of them after 18 months, you would calculate [100,000/10,000,000 = .01] and send .01 ETH to the smart contract.The program will send your wallet address .01 ETH + 100,000 LRC + any additional LRC earned through interest.A piece of advice:In general: withdraw only when you want to sell LRC immediately.Otherwise, you can withdraw tokens later than others and you will receive a higher rate of return.If you only want to sell a partial amount, then choose to withdraw a partial amount of tokens from the contract, and continue to earn on the rest.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)On Loopring’s Long-Term Incentive Program was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 01. 29

Reddit AMA with Daniel Wang

Loopring Protocol founder, Daniel Wang, hosted a Reddit AMA to answer the community’s questions on Saturday, Jan 26th, 2019. This post sums up the questions and answers.1. Binance, the world’s largest crypto exchange by daily trading volume, is set to launch a beta version of its decentralized exchange (DEX) by early 2019. Binance has more users, if that happens, how could Loopring compete?There isn’t much information regarding the design, consensus, and governance of the upcoming Binance Chain. I expected it to be a sidechain with some POS (DPOS)-like consensus with an onchain order book and match engine, which should be similar to EtherDelta.​I like the one-app-per-side-chain idea, but the security of such a side-chain should be evaluated before swapping a large amount of asset from the main-chain to the sidechain. Now, most people have gained the knowledge that blockchain technology itself doesn’t guarantee security, it is the consensus algorithms, the distribution of block-mining power, and the decentralized governance that collectively decides how security it can be. The same blockchain codebase can create very different blockchain ecosystems, one may be very distributed and security and others can be very weak in security guarantees.We’ll see how Binance distributes the mining power and yield control to others. If this is not done right, such side-chain based DEXs are just another form of CEXs to fool people. I hope Binance can do it well.​Loopring is also working on our side-chain based DEX solution, we will work with Dora team to make sure the chain is sufficiently decentralized. The other major difference from the Binance chain is that our DEX side-chain will apply the same “off-chain order relay and on-chain settlement” principle. As we believe even sidechains can greatly improve throughput and lower gas cost, it cannot sustain if all orders are put onchain.2. Hey Daniel, Loopring Protocol 2.0 has launched and I really appreciate that Loopring focuses on developing the technology. Now DEX is lack of liquidity and it is hard to use DEX to fill the order. Could you please share your thoughts about the future trends of DEX and how can UP Wallet improve liquidity?All DEX projects face a common set of challenges, and one of them is the lack of liquidity. This is caused by the following (at least, not limited to): 1) there are still many people who don’t care about security and are quick OK with their CEX of choice. Some told me the volatility of crypto assets is a bigger risk for investors than the security of their exchange platform. If they can live with the volatility of crypto assets they can live with using CEXs. 2) Many people are not comfortable with managing their own keys (private keys). 3) DEX has a terrible user experience. 4) In many countries such as China, most people don’t value privacy and anonymity which are extra benefit you can get from DEX.​Noe of the DEX and protocols we see on the market is going to survive in the long run as none of them is good enough. DEXs must resolve the throughput issue but not relying on the underlying blockchain to scale up first — a public blockchain with well-distributed mining power may never scale up to a level that can support high frequent trading. Some tier-2 approach must be found and taken. With the Loopring Protocol 3 initiative, we are trying different approaches to scale up our DEX protocol and enhance the privacy of trading.3. It has been a while since LRN tokens have been released however roadmap of LRN slightly foggy. Can you please elaborate on the roadmap for LRN also LRN suffers greatly due to low liquidity is this issue goin to be resolved within the near future?Later this year, we introduce to the community the Loopring DEX sidechain. A great part of the LRN tokens we hold will be locked in a smart contract and be gradually ‘mined’ by block miners. LRN will also be used as the government token in the sidechain. LRN will no longer be the Loopring fee token on NEO.4. It’s clear to me that without well vetted stable coins, (Vetted in regard to their auditability and compliance with government regulations.) Dapps will struggle to provide the autonomous utility that I believe is envisioned for a next generation smart economy. The amount of regulatory and IT overhead in the financial space that cryptocurrencies can alleviate is astounding.Does loopring have plans to use a stable coin to on board enterprise level Dapps? Is this part of the roadmap?What are the plans to get corporations to integrate a protocol like loopring as token settlement and liquidity solution or is the target a p2p or both?Stablecoins, especially the local currency (fiat) backed ones, are very essential for crypto assets to be adopted by the mass — most people would feel comfortable to convert their fiat 1-to-1 to a crypto-form, then do the inter-crypto trading.We have worked with PwC Hong Kong on a stablecoin study and will issue the final paper in about a week (please follow our twitter account: loopringorg for update). Loopring as a protocol supports all ERC20 stablecoins regardless of their issuers. Our protocol no longer requires tokens to be whitelisted by us, relayers in our ecosystem can solely decide which ERC20 tokens they support in terms of token listing. We empower them by giving up the control which makes the Loopring Protocol further decentralized. In 2019, we’ll deliver a new relayer implementation and make it accessible to all partners (including enterprise) to bootstrap adoption, and stablecoin support is definitely a part of it.5. Governments across the world start to regulate the trading of cryptocurrencies . Does Loopring plan to add the functionality of KYC in your smart contract? If users should do the KYC, is it become more centralized instead of decentralized?We will not add KYC components to our protocol smart contracts. A DEX operator/relayer should fulfill his KYC duty and whitelist KYC’d addresses off-chain or on-chain (or with a hybrid approach). The KYC process and results should be verifiable by the regulators while DEX protocols don’t need to access that information.​In other words, DEX operators need to be regulated, the protocol which is for verifying matching result and performing settlements should not (the protocol should be audited though).​KYC can be decentralized to a certain degree, but some information (such as driver’s license) was generated by a central party, so to verify that kind of information, the KYC process has to access to the party’s database. Therefore it is quite hard to get KYC fully decentralized.​I don’t expect KYC to be as decentralized as the crypto asset itself. KYC is a transfer of credit from one party to another, regulators need to find someone to blame and fine if something bad happens.6. Daniel, a large amount of investors prefer to use centralized exchanges to trade now. Loopring is a protocol for DEX and how can you guys do the promotion about the products building on top of Loopring Protocol, e.g., UP Wallet? Do you have any idea about the user education?It takes time to make disruptive changes. My father still doesn’t know how to make a WeChat video call even though everybody around him is using the app on an hourly basis. I think he will never get used to this new type of communication, WeChat is just not his thing. This is the same in crypto, DEX will seem more natural for younger people. I believe one day when we approach them with the idea of centralized exchanges, they must feel we were such fools to trust those exchange operators who don’t even have a track record.7. Is Dolomite a part of Loopring? Looking forward to the launch, but it’s not clear if it’s a different company or not?Dolomite is a US-based startup and their DEX is being built on top of the Loopring Protocol.8. How’s the collaboration with UpWallet? In their communication the UpWallet team mentioned a few times 0x and Kyber as their (protocol) partners, but they talked never about Loopring…The UpWallet is developed using Loopring’s opensource, noncustodial wallet app codebase. Currently, the only DEX inside UpWallet is also integrated with our relayer, not 0x or Kyber’s. The company behind UpWallet, Up Blockchain Limited, is a Hong Kong-based company and is one of our strategic partners.9. Did you guys had already contact with the big wallet companys (Ledger, Trezor, MEW,…) to present the Loopring protocol?We didn’t eagerly approach them but I think they should have known of us, but they might not have learned the features and advantages of our protocol.10. Wouldn’t it be good to try (also) to integrate the Loopring protocol to the big CEX companys? So you can try to bridge the gap between CEX and DEX. Loopring could take profit from the liquidity of the CEX and the CEX could have extra trades / volume via the Loopring protocol (win/win?). So by integrating the Loopring protocol the CEX could become a “hybride CEX” :-)Not sure what they think, but our next relayer implementation will definitely connect to many CEX to source liquidity.11. Could it be useful to create a “DEX protocol alliance” and work together with for example 0x to create bigger liquidity?I’m not a fan of the alliance idea as I believe it is still too early. Most DEX protocols and apps are still trying to resolve technical issues, it is not the time to focus on the operation. One year later, you’ll probably find that most products built on top of the current DEX techstack vanished.12. Is there a connection / collaboration between LRN and NEX (Nash)? At the time LRN was launched, there were rumors the LRN protocol would be used in the NEX system… Will the Loopring protocol / LRN be involved in the NEX exchange?Not at all. I wonder if NEX is still around. If they are, we should ask them how they bypass those issues caused by NEO’s fee model.13. What DEX’s and CEX’s are gonna be owning and mining LRC ?LRC is an ERC20 token and has been fully issued, not minable. But you can purchase it from many exchanges.14. When can we expect to see a legitimate campaign to bootstrap liquidity?Mid-201915. In terms of promotion of the Loopring Protocol, is there any action that allows some traditional large financial institutions to adopt the protocol, is it possible to implement it?We have not yet started promoting too much to traditional financial institutions. I learned a little bit about this in my past entrepreneurship: making inroads in these types of businesses in China is very time consuming. There are many reasons for this, not to go through them all here.16. Is the Loopring Protocol active in countries where regulation of digital currency is friendly, such as Singapore, have you considered launching a fiat currency trading pair? In addition, how does the protocol connect the closed-loop transactions between the fiat currency and its own decentralized exchanges, and what actions and plans are there in this regard?The Loopring Foundation is a non-profit organization, but we will support partners in the ecosystem to provide support for legal, fiat currency transactions, especially for fiat-pegged stablecoin transactions.17. Although the Loopring Protocol has introduced version 2.0 and has a good idea, the current user traffic of the Upwallet wallet is still insufficient. Is there any way to solve this problem and the future planning in this area?At present, there is no rush to do traffic, and our focus is on developing better-used protocols. If the protocol is not designed well enough, all the research and development and operations on it may be for naught. One similar example is with virtual currency payment companies: currently, this type of company is very difficult to operate. One of the main factors is that the virtual currency itself is not friendly enough to pay (far less than Alipay and WeChat), so products based on this technology have difficulty succeeding. We hope that in the middle of 2019, our relays may start to have better trading volume.To stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Reddit AMA with Daniel Wang was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 01. 28

Loopring Bi-Weekly Update  ...

Loopring Bi-Weekly Update — 01/19/2019A busy few weeks, filled with integration work of protocol 2.0 with relay 2.0, continued research, and a few conferences in Asia and North America. We’d like to note that on Saturday, January 26th, I (Daniel) will answer a Reddit AMA. Please ask your questions now!ProtocolDuring the last two weeks, we’ve been focusing on Protocol 2.0 and Relay 2.0 integration. Combined, this represents the comprehensive Loopring 2.0 system.Besides that, we continued working with the Wanchain team and deployed the Loopring protocol smart contracts on Wanchain, allowing their community of devs to use Loopring to build cross-chain DEXs. The details of deployment can be seen on Wanscan and are:Creator: 0x2902f430199397f9B320157021478016Da0F4876WLRC: 0x0f2e7C0E904a525A24FF6f658053f6bA5Ce7A209WETH: 0x28362cD634646620Ef2290058744f9244Bb90ED9BrokerRegistry: 0xEaF0dF9A65e6B97548E2a8fcCC58cC7304Ed68f0BurnRateTable: 0x58c85c107734E40Cf815A134B95318818274E8faOrderBook: 0x1db0422ba1E0dc146c7468E94f4cADaa5e6cE160OrderRegistry: 0x2472365dD57a9Ef927cadafCDE39A9009A7FC1DETradeDelegate: 0xC7D59c551A8d5A937A0D5B5F1E1d7d92b81e309ETradeHistory: 0x7D9A78a8d9F3c6BeE71079eB6d58aCeb0C863318FeeHolder: 0x235D48e9f00A13FE9fC0bc77D203B7375d1F6AA8BurnManager: 0x8Eb00a9F8211e0d157C5aB2a51f254de502f5259OrderCanceller: 0xD6a133Dc18edA0974DEd37207d289Db9BeA8532eRingSubmitter: 0x8a0fa3d2b2f2a80cdfaf8ad1348946417a09ec1bWe have also continued the sidechain development with the Dora team. The project has entered the final stage of development.RelayLightcone (Relay 2.0)We have completed encoding, storage and processing for Ethereum event logs. We have implemented data services for tokens and market information. We have completed optimizations for testing framework, preparing for the next integration testing.We have completed all basic features. In the next step, we will work on Relay deployment and integration testing. After completion of this — some time after the Chinese new year, mid/late Feb— the combined 2.0 experience will be complete, and some focus will shift towards more commercial facing efforts, and, importantly, liquidity provision and market making.Frontend & ProductiOS & AndroidIn iOS and Android development, we have completed optimizations for the cryptocurrency news feed section over the past two weeks. We have redesigned and implemented a UI to navigate to the news section from the home view. We have updated the layout of news list view, added news thumbnail photos, font adjustment and others.Besides the news section, we have completed the market view using native Android SDK. The market view includes market list view, line chart, orderbook, order submission and order cancellation.All of these features will be included in version 1.6.Operations & Marketing01/07/2019 — LRC is listed on stealthex.io, an anonymous crypto exchange (non-order book model).01/09/2019 — Community video submitted, Talking Loopring Cryptocurrency, by SmashingBloke.01/10/2019 — Loopring, as one of the WBTC DAO members, shares our Ethereum address in the WBTC DAO: 0xd8056194369F71A98b82799132F71f34084F7660.01/11/2019 — Loopring attends World Blockchain Forum (WBF) in Shenzhen. An aggregation of many of Asia’s Blockchain experts and enthusiasts to discuss the trending topics of the blockchain industry.Loopring @ WBF01/11/2019 — Loopring COO Johnston is interviewed by Milin Finance, a Chinese media outlet, and shares ring-matching concept.01/14/2019 — Loopring publishes the preview of Trust Framework for Fiat-Backed Stablecoin with PwC. The study focuses on the current state of stablecoins, their uses, and potential impact on the cryptocurrency and adjacent industries. Full report to be released this week.Trust Framework For Fiat Backed Stablecoins01/14/2019 — Loopring CMO, Jay Zhou, attends the Asian Financial Forum 2019 in Hong Kong.Loopring @ Asia Financial Forum01/15/2019 — Loopring is featured as a Top 3 protocol on Ethereum by Dapp.com 2018 Dapp Market Report.Dapp Market Report01/17/2019 — Loopring CEO, Daniel Wang, speaks about Loopring 2.0 and 2019 Development Roadmap in a livestream on the TokenClub app.Daniel livestream on TokenClub01/17/2019: Loopring Director of Business Development, Matt Finestone, attends the North American Bitcoin Conference in Miami, catching up with many of our friends such as Polymath, Decred, Qtum, and Quiknode.Loopring @ TNABCTo stay up-to-date with Loopring, please sign up for Loopring’s Bi-Weekly Update, and find us here:⭑ Twitter: twitter.com/loopringorg⭑ Reddit: reddit.com/r/loopringorg⭑ Telegram: t.me/loopring_en & t.me/loopringfans (Chinese)⭑ Discord: discord.gg/KkYccYp⭑ StackOverflow: stackoverflow.com/c/loopring⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)Loopring Bi-Weekly Update — 01/19/2019 was originally published in Loopring Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Loopring

19. 01. 20

거래소
거래소 마켓 시세 거래량 주소
Binance 추후 제공 추후 제공 추후 제공 바로 가기
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Information
Platform ERC20
Accepting
Hard cap -
Audit -
Stage -
Location -
주요 코인 시세 *2019년 03월 27 기준

비트코인

BTC

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이더리움

ETH

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라이트코인

LTC

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