Loophead NFT Drop #2

Adam Browman
Loopring Protocol
Published in
3 min readMar 3, 2022


We have 980 Loopheads up for grabs in this second Loophead dynamic NFT drop. The contest starts immediately (March 3rd, 2022, 00:00 UTC) and will last the entire month.

L2 deposits are the name of the game in drop #2! Users who make an ETH, LRC, USDC, USDT, ENS, or UNI deposit onto Loopring L2 will have a chance to win a Loophead NFT.

To be eligible, users must first start with a minimum deposit of $100 USD during the specified dates and second, maintain a positive net deposit on their L2 account by the end of the round. *The minimum deposit amount and positive net deposit amount will be counted at the end of the round (not at time of deposit, see more below).

Users have a chance to win a Loophead either via Lucky Draw or by placing in the Top 300 highest net deposits.

Net deposits are calculated as inflows less outflows (outflows = withdrawals + transfers sent). Essentially, a TVL increase of $100 or more in your L2 account from the start of the month to the end of the month will qualify you for the lucky draw.

How to Deposit

You can deposit in three ways:

  1. Ethereum L1 to Loopring Layer 2
  2. Withdrawals from CEXs to Loopring L2 via LayerSwap
  3. FIAT to Loopring L2 via Ramp or Banxa

How to Win your Loophead NFT

Contest eligibility period is between March 3rd, 2022 (UTC 00:00) and April 1st (UTC 00:00).

  • Be one of 300 addresses with the highest net inflows.
  • Or try your luck as one of 680 addresses selected at random to win. Addresses that deposit a minimum of $100 USD while maintaining a positive net deposit, will be entered into this Lucky Draw. *See below for more on eligibility.

Layer on up and get ready for another exciting month of Loophead Madness!

More on Eligibility

In order to be eligible, users must deposit a minimum of $100 worth of ETH, LRC, USDC, USDT, ENS, or UNI which will only be counted at the end the round. For example, if you deposit $100 worth of ETH and the price of ETH vs. $USD drops by 1% by the time the round is over, you will no longer be eligible.
We recommend depositing more than the minimum.

Users will only be eligible for a Loophead NFT if they have net deposits of $100 or more by the end of the round. Net deposits are calculated as new deposits less withdrawals and transfers sent.

Token values will be calculated based on the token price on CoinMarketCap at the end of the round and will be measured in $USD.

11 addresses (who should have finished in the top 300 in the first drop) will automatically receive a Loophead this round. While 92 addresses (who should have been entered into the previous Lucky draw) will automatically be entered into this round’s Lucky Draw. 980 Loopheads will be up for grabs.

Wallet addresses that have already won a Loophead NFT will be excluded.

About Loopring

Loopring is an Ethereum Layer 2 zkRollup protocol for scalable, secure exchanges & payments. 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, you can sign up for our Quarterly Update or see Loopring.org.