L2 Liquidity Mining Round 7
1. AMM: Liquidity Mining
The following AMM pools will support liquidity mining：
- This round starts at 00:00 UTC on April 29, 2021, and lasts for 13 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.
- RAI/ETH rewards will distributed by FLX project and other 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. Swap Tournament
Rewards for AMM swappers:
- 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 below.
3. Orderbook: Liquidity Mining
Vesper is incentivizing the VSP-ETH & VSP-DAI orderbook pairs. An awesome experience for trading this DeFi token on orderbooks at tight spreads, low cost, and high speed.
- For VSP/ETH and VSP/DAI, the maximum spread is 1.5%;for FLX/ETH and RAI/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.
- 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.
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.
Unsure how to use the Loopring L2 Exchange? No worries, follow this step by step tutorial.
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, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — an L2 orderbook and AMM DEX. To learn more, you can sign up for our Quarterly Update or see Loopring.org.
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