Protocol Smart Contract

  • Our engineer Kongliang successfully submitted a ring of three orders on testnet. We found that the gas used by that transaction is higher than expected. we need to reduce gas fees through optimization.
  • Conducting additional tests is our priority so we can proceed to have our code audited by third-parties. Some unit tests for the order and ring signing algorithms have already been conducted, in this process, we found and fixed several bugs related to ring-hash calculation. The test coverage is still low, we will run more tests by the end of this month.
  • We have improved smart contract migration and deployment scripts to support testnet and mainnet deployment.
  • We reached out to several people in smart contract security auditing and will continue to engage them in our conversation. Our goal is to get our smart contract audited in November.


  • We are testing the integration of miner software with the smart contract. The ring-miner can now send rings to the contract, de-serialize and store events emitted by the smart contract. We also verified miner’s code that calculates ring hash and signs orders to verify rings are consistent with the protocol smart contract.
  • Hongyu and Dylen, our main miner developers, are also simulating different rings in order to come up with a reasonable default value for the coefficient of variation threshold (`rateRatioCVSThreshold`) that will be used in the protocol.

Wallet - Looper

  • Looper ( is now our default wallet web app that will be developed with Google’s Polymer 2.0 framework. Three engineers are currently working on it. Our goal is to get the entire layout and basic interaction ready by the end of October, which is quite challenging. We abandoned our previous wallet repository so we can start from the ground up to provide better user experience, and to make the wallet look more like an exchange. Useful code from the previous git repository will be migrated to the new project. If you are good with Polymer, we can use your talents.


  • Our engineer, Xiaolu, is full speed on this project. This project is by far a weak link in our system. A draft version of JSON API is also documented; integration with Ethereum and IPFS nodes is partially done.

We had an one-week long holiday in China, so the team actually only had one week at work.

This week Daniel and Jay had the pleasure of meeting Fabio from City of Zion. We discussed how CoZ had worked out for NEO. Later the foundation decided to support our own developer community — Fellowship of the Ring (FoR) that was initiated by @supersymmetry, as we believe that a real decentralized project should also be developed in a decentralized fashion. Now more people are joining in FoR including @DirecktHit and @thomas. We look forward to a post from @supersymmetry to tell us more about his plan (and we will probably follow up with an official statement to support FoR, given that their vision and value proposition are aligned with ours.)

If you are interested in our project and want to contribute to our codebase to earn LRC as a reward, please join our slack #developers channel.

Have a good weekend.