Loopring L2 Liquidity Mining | Round 10
Loopring announced L2 Liquidity Mining from June 24: Round 10.
1. AMM: Liquidity Mining
- This round starts at 00:00 UTC on June 24, 2021, and lasts for 13 days.
- They take random snapshots of the relevant AMM pools several times per day to calculate the size of reward each LP earns based on the average of all snapshot balances in the round.
- Rewards will be directly distributed to LP’s layer-2 accounts on the day after the campaigns end (Day 14).
- Providing liquidity is how you mine. You automatically start mining without any other user action.
- Mining does not involve locking up your funds, but the LP tokens must stay in your Loopring L2 account. If you withdraw LP tokens to the Ethereum mainnet, you cannot get mining rewards, because it will not be recorded in the snapshots. You can transfer part or all of your LP tokens to other accounts on L2, but the mining rewards will also follow.
2.L2 Trading Tournament
- Loopring has launched the merged liquidity of pools and orderbooks, and upgraded the trading volume calculation system. Now we calculate the trading volume as the sum of AMM and orderbook trading volume.
- They reward the top 25 users with the most volumes(AMM+Orderbook) per pair.
- The actual size of the reward will scale based on the total reward mentioned, but maintain the same function as before.
3. Orderbook: Liquidity Mining
An awesome experience for trading these tokens on orderbooks at tight spreads, low cost, and high speed.
- For USDC/USDT, the maximum spread is 0.1%; for VSP/ETH and VSP/DAI, the maximum spread is 1.5%.
- The max spread means that resting limit orders within that spread range is what is rewarded.
- Rewards will be directly distributed to LP’s layer-2 accounts on the day after the campaigns end (Day 14).
- Other details follow Loopring v1 orderbook liquidity mining rules. Hourly snapshots, measured by order depth, tightness, and balance.
- While you can mine the orderbooks manually, orderbook miners usually love providing liquidity programmatically, so here is our API to do that, and here is Hummingbot, NIOX maker, and other market making software which connects to Loopring Exchange.
What is Loopring?
Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our Layer-2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — an L2 orderbook and AMM DEX.
📰 INFO:
https://medium.com/loopring-protocol/loopring-l2-liquidity-mining-round-10-4f4784d27c1e
