Loophead Drop #4: NFT Marketplace Challenge

Byron @ Loopring
Loopring Protocol
Published in
3 min readSep 16, 2022

We have 1900 Loopheads up for grabs in this fourth Loophead NFT drop. The contest starts on September 19th 0:00:00(UTC) and finishes on November 20th 23:59:59(UTC).

Drop #4 is for the NFT collectors! Users who use any of the qualifying NFT Marketplaces built on Loopring L2 to buy or sell NFTs will have a chance to win a Loophead NFT.

Qualifying NFT Marketplaces

★ Any Loopring L2 based NFT Marketplace that collects + pays royalties to the NFT creators. As long as the buying or selling volume settles on Loopring’s L2, it will count towards the competition.

How to Win your Loophead NFT

There are two ways to win, either via Lucky Draw or by being a Top 900 NFT trader (buying and/or selling volume) during the qualifying period.

Top NFT Traders

We will distribute a Loophead to each of the Top 900 NFT Traders by volume during the qualifying period.

Rules

  • We calculate the total NFT trading volume for each address that is buying/selling NFTs on a qualifying marketplace
  • Total volumes are measured in $USD
  • We will only count trades placed on qualifying NFT marketplaces that pay out royalties to creators (even if the royalty set on an NFT is 0%)
  • Wash trading will not be counted towards the competition
  • Addresses can only win one Loophead

Lucky Draw

For those that don’t qualify into the Top 900 traders category, you can try your luck with the Lucky Draw as 1000 addresses will be selected at random to win.

Rules

This lucky draw will work on a ticketing system, where one ticket receives one entry into the lucky draw — the tickets will be rewarded as follows:

✅ Top 901–1200 NFT traders (by volume) receive 5 tickets *
✅ Top 1201–1500 NFT traders (by volume) receive 4 tickets *
✅ Top 1501–1800 NFT traders (by volume) receive 3 tickets *
✅ Top 1801–2100 NFT traders (by volume) receive 2 tickets *
✅ Top 2101+ NFT traders (by volume) receive 1 ticket *
*trade minimums apply to total (accumulative) trade volume (see below)

  • To be eligible for the lucky draw, you must place NFT trades over the entire eligibility period that accumulate to a total of at least $250 USD equivalent
  • We will only count trades placed on qualifying NFT marketplaces that pay out royalties to creators (even if the royalty set on an NFT is 0%)
  • Wash trading will not be counted towards the competition
  • Addresses can only win one Loophead

Leaderboard Tracking

Want to see where you stand? We’ve built out a leaderboard to see exactly where you are in the standings. Follow along here throughout the competition👇

➡️https://loopring.io/#/race-event/2022-09?type=nft_trading_competition_7

That’s it! Layer up to Loopring L2 and get ready for another exciting couple months of Loophead Madness💙

About Loopring

Loopring is an Ethereum Layer 2 zkRollup protocol for scalable, secure DeFi and NFT applications. Loopring builds non-custodial, high-performance products atop our L2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring L2 web app — an L2 orderbook and AMM DEX. To learn more, follow us on Medium or see Loopring.org.

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