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Loopring L2 Liquidity Mining: Round 11

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Loopring released round 11 of incentives on Loopring’s L2 AMM & Orderbook exchange, beginning at 00:00 UTC July 8, and lasting 13 days.

1. AMM: Liquidity Mining

  • This round starts at 00:00 UTC on July 8, 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. 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 LRC/USDC, the maximum spread is 1%; for ETH/USDT, the maximum spread is 0.3%; for BKT/USDT, 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.

3. 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.

If you (as a token project or just a large token holder) want to incentivize liquidity of a token on Loopring L2 in a future round, please fill out this form.

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-11-9cb9904b8607

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