Get ready for round 4 of incentives on Loopring’s L2 AMM & Orderbook exchange, beginning at 00:00 UTC March 4th, and lasting 14 days. We’ve got some great projects helping incentivize the shift to Ethereum rollups, so if you haven’t taken the plunge yet, now is the time!
L2 Liquidity Mining Round 4
We’ll launch the fourth round of incentives at 00:00 UTC, March 4th, which lasts 14 days. You can participate on the Loopring Exchange at exchange.loopring.io, and also via the Loopring Wallet mobile app.
1. AMM: Liquidity Mining & Swap Tournament
The following AMM pools will support liquidity mining and swap tournament. Liquidity mining incentivizes LPs in the relevant pool, while swap tournament rewards the largest swappers in the relevant pool.
Rewards for AMM LPs:
Rewards for AMM swappers:
The LRC swap tournament rewards comes from Loopring itself. Note the addition of an AMM pool for swap tournament which does not have LP rewards, Vesper (that’s because Vesper is incentivizing VSP-ETH orderbooks, not AMM pool, see below!)
2. Orderbook: Liquidity Mining
Loopring incentivizes the $ stablecoin-stablecoin pairs as has been the case in past, while Vesper is incentivizing the newly launched VSP-ETH orderbook pair.
1. AMM Liquidity Mining
- This round starts at 00:00 UTC on March 4th, 2021, and lasts for 14 days.
- We 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 within three days of the end of the round.
- 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. Swap Tournament
- We reward the top 25 users with the most swap volumes in a pool.
- The actual size of the reward will scale based on the total reward mentioned, but maintain the same function seen above.
3. Orderbook Liquidity Mining
- For the USDC/USDT and DAI/USDC pairs, the maximum spread is 0.1%.
- For VSP/ETH, the maximum spread is 2%.
- The max spread means that resting limit orders within that spread range is what is rewarded.
- Other details follow Loopring v1 orderbook liquidity mining rules. Hourly snapshots, measured by order depth, tightness, and balance.
- Orderbook miners usually love doing so programmatically, so here is our API, and here is Hummingbot, market making software which connects to Loopring Exchange.
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.
That’s it! Happy liquidity providing, swapping, and market making. All fast, gas-free and secured by Ethereum. Thank you for experiencing L2 early on!
Unsure how to use the Loopring L2 Exchange? No worries, follow this step by step guide.
Loopring Exchange on Web: https://exchange.loopring.io.
Loopring Smart Wallet app on mobile: https://loopring.io.
Loopring API: https://docs3.loopring.io.
For any questions, feedback, or to join the community of Loopringers, feel free to join our Discord.
Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our Layer-2 protocol, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — L2 AMM and orderbook DEX. To learn more, you can sign up for our Monthly Update or see Loopring.org.