The need for speed
Introducing Amp support on the Loopring DEX, with gas-free sends, zero-fee trades, and a 2,000,000 AMP incentive pool.
Always looking to the road ahead
As Flexa continues to build infrastructure for the universal spending of digital assets, both sides of its wallet-merchant network are rapidly expanding. With the upcoming public release of the Flexa Spend SDK, the Flexa team is continuously researching practical approaches towards enabling more efficient blockchain transactions—not only for payments, but also for real-time Amp reward distributions.
The great news is that there have been substantial, tangible L2 scaling efforts in the space, exclusive of encouraging development on the ETH 2.0 base layer. For instance, Loopring has been scaling exchanges with zkRollups on Ethereum for the past 12 months. StarkWare’s Cairo is currently live with both zkRollups (on-chain) and Validium (off-chain) data functionality on its StarkEx implementation of Deversifi. Matter Labs’s zkSync has continued to progress towards generalized contract support and significant decentralization using DPoS parallel computation. Aztec is pioneering zk²Rollups with the goals of on-chain data availability and full privacy. And IDEX 2.0 was recently released (with support for AMP-ETH trading at launch), using an open-source Optimized Optimistic Rollup (O2) design that preserves on-chain data availability while achieving 100,000+ trades per second at low-millisecond latency.
Composability remains at the forefront of these discussions, but whether new standards emerge, or myriad sidechains become coupled with alternative L1 options, Flexa intends to create universal spending compatibility. To enable billions of wallets to spend digital assets worldwide, we will look to support long-term network partners in developing meaningful scaling solutions. A significant benefit to these particular options is that user privacy can be preserved, not only for consumers but also for merchants.
Amp × Loopring
To start bringing Amp to the next l̵a̵y̵e̵r̵ level, Amp can now be transferred directly onto the Loopring DEX and then sent gas-free to any registered address, with zero fees for all platform trades (using zkSNARKs). To help promote adoption, 2,000,000 AMP will be distributed as liquidity mining incentives—via the AMP/USDT pair—over the next 30 days. We think that this initiative is especially attractive for low-latency traders and market makers. Check out the Loopring blog and this Alpha DeFi post for more details on how to participate, or visit the live dashboard for a full ranking.
Beyond the current implementation, Loopring version 3.6 will introduce support for AMMs on zkRollup circuits, and enable user payments to any Ethereum address. Most exciting, the Loopring mobile wallet is publicly launching this month, and Flexa is looking forward to enabling instant retail payments for LRC as well as many other Ethereum-based assets.
The path toward trustless methods for scalable Amp reward distribution and liquidity provisioning is becoming increasingly clear, and we hope to eventually enable the entire Amp ecosystem in a purely decentralized way. To this end, Flexa will soon be introducing expanded staking incentives and plans for supporting projects across the DeFi ecosystem.
As a collateral token, Amp requires widespread liquidity and low volatility to enable more network spending capacity; we believe that integrations with innovative partners like Loopring are ideal for ensuring broader and deeper participation in the protocol for use cases like Flexa and beyond.
