A bunch of exciting protocol developments these past 2 weeks, including integrating a mechanism to buy/burn LRC for the fee model in 2.0, progressing on a sidechain for higher throughput, and much more. On the frontend, UP Wallet is now in the App Store, and UX continues to be refined. The final LRN airdrop has also been completed.
We have been following up with the security audit for protocol2 which is nearing its end. We also made some small modifications to help maintain compatibility between protocol releases.
The third and final LRN airdrop was completed. A total of 854 NEO addresses bound to 1039 Ethereum addresses were eligible for this airdrop with a total of 2,151,812.5 LRN distributed. Detailed information of addresses can be found on github here.
Our sidechain project with the Dora team completed its first phase of testing. Tokens can already be transferred from the mainchain to the sidechain. In our testing environment we can achieve up to 5000 TPS on the sidechain.
An integration with DutchX for fee burning is also well underway. In our new fee model any token can be used to pay fees. A part of the fee earned by wallets and miners is reserved to burn LRC (we call this the burn rate). If the fee is paid in a non-LRC token we will use the Dutch auction model provided by DutchX to buy LRC and burn it in a decentralized way.
We have started work on updating our code base to the newest truffle beta release with solidity 0.5 and web3 1.0 support. web3 1.0 is still in beta however and we are currently experiencing some stability issues running our tests which will hopefully be fixed in a future web3 release.
Meanwhile we are looking into exciting new possibilities for the next protocol release.
Lightcone (Relay 2.0)
We have redesigned the software architecture and started implementing functionalities in the past two weeks. The current progress of each component is:
- The API interface to Ethereum has been completed, including ERC20 support.
- The order matching mechanism and data storage have been completed. We have implemented restoring service from backup and benchmark tasing. They will be in production in the next week.
- We have implemented docker images, which will be used in testing and deployment in the future.
Frontend & Product
After our long-term effort, UP Wallet iOS app has passed App store review and has launched on iOS App store in US, Korea, Japan, and Hong Kong. You can download the app on Apple Store.
The most important new feature are the price and volume charts. These will help users to review open price, close price, price change and trade volume. Charts can aggregate data by day, week, and month. For better security, users will be asked to enter a password when importing a wallet using a private key. We have implemented sharing transaction to friends in the transaction detail view.
After two weeks of Android development, we have released version 1.3 and version 1.3.1. You can download at https://upwallet.io or the Google Play store. We have implemented ETH conversion in Android native development. After improving the backend service, we have implemented over-the-air updating. Users won’t need to navigate to the website to update app anymore. We are going to continue Android native development, including P2P trade. It will replace H5Dex implementation. We believe the native development will bring the best experience to users. We also have implemented the following features:
- Users can make a P2P order
- Users can share the QR code of P2P orders.
- Users can cancel a P2P order
- Users can scan a P2P order and submit the ring to Relay.
- Users can review the history of P2P orders
- Users can review the detail of a P2P orders.
Operations & Marketing
- 11/25/2018 — Loopring disclosed project information on OKEx platform, keeping users updated with important news and bi-weekly reports.
- 11/26/2018 — Loopring has been added onto Japan Digital Journal (JD).
- 11/28/2018 — Loopring released the new version of Circulr DEX for web.
- 11/30/2018 — Loopring joined Binance Info as the 36th #GoldLabel Project. Through this professional platform, Loopring will continue to provide real, informative updates to our community and token holders.
- 11/30/2018 — Loopring Weibo has reached one million views.
- 11/30/2018 — Loopring completed the third and final LRN airdrop. A total of 2,151,812.5 LRN was airdropped to 854 NEO addresses, corresponding to 1039 Ethereum addresses.
- 12/1/2018 — Loopring has been listed on Kriptomat, a great exchange for users to buy LRC with Euros.
- 12/4/2018 — Switcheo, the first decentralized exchange on the NEO blockchain, has listed LRC/ETH trading pair.
- 12/5/2018 — Loopring hosted a DEXploration meetup in Montreal to discuss all things DEX, and the Loopring landscape.
- 12/7/2018 —Coinbase is exploring listing LRC and another 30 tokens and will be working with local banks and regulators to add them in as many jurisdictions as possible.
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