Loopring announces a collaboration with DAOSquare and an exclusive lucky draw for Loopring Smart Wallet users!

Loopring Smart Wallet has recently launched exciting new features, opening up a new era on Ethereum Layer 2. To thank Loopring Smart Wallet users for their support, Loopring will resell some of the new project tokens held by Loopring at a price lower than the opening price of the AMM pool, and distribute them directly through layer 2, allowing users to participate in subsequent trading competitions and liquidity mining activities directly and with low cost.

DAOSquare and Loopring will conduct a red-packet event to bring exclusive discounts to Loopring Smart Wallet users. During this event, Loopring Smart Wallet Users have the opportunity to participate in 2 different activities to win or secure a fixed proportion of the super-large allocation pool of RICE.

Activity Time:

May 21, 2021, 12:00 -May 22, 2021, 12:00 (UTC)

Token Allocation:

200,000 RICE

Activity Rules:

Activity 1: Create a love red packet and win 5000 RICE redemption rights at a fixed preferential rate!

1. The event is limited to Loopring smart wallet addresses to participate;
2. Users who register Loopring Smart Wallet only need to send out a 5.20 LRC public Lucky red packet during the event period, the count amount (quantity of people that can receive) of which is not less than 2, and the red packet is collected during the event period, they can have a fixed ratio to exchange for 5000 RICE rights, eligibility for the lottery is limited to 10 winning users;
3. We will take the 12491024 blocks of the Ethereum main network as the initial lottery block number. This block is expected to occur around May 23, 2021, at 12:00 (UTC). Click on the link to view the specific lottery rules.
4. We will announce the winners list on May 23, 2021. Please follow the official blog at that time.
5. RICE exchange price: $0.8;
6. LRC exchange price: Coinmarketcap close price on May 22;
7. After the winners’ list is announced, winners need to transfer the equivalent LRC to the layer 2 account of earn.loopring.eth through Loopring’s layer 2 transfer within 24 hours of the announcement of the list; if the transfer exceeds the time, it will be deemed to automatically give up the exchange rights;
8. We will uniformly distribute RICE to your Loopring Wallet layer 2 accounts before RICE opens;
9. Loopring reserves the right of final decision and interpretation of the exchange rules.

Activity 2: Register Loopring Smart Wallet to participate in the share of 150,000 RICE rights

1. The event is limited to Loopring smart wallet addresses to participate;
2. On May 21, 2021, 12:00 -May 22, 2021, 12:00 (UTC), you only need to make a layer-2 transfer 2000 LRC to the layer 2 account of earn.loopring.eth through Loopring Smart Wallet. All participating users will evenly share the 150,000 RICE redemption quota at a fixed preferential rate;
3. Participating users can only redeem RICE equivalent of 2000 LRC at most, and the LRC that has not been redeemed will be transferred back to your layer 2 accounts;
4. RICE exchange price: $0.8;
5. LRC exchange price: Coinmarketcap close price on May 22;
6. We will uniformly distribute RICE to your Loopring Wallet layer 2 accounts before opening the RICE trading pair;
7. To avoid too many participating users resulting in too little RICE per capita, if the number of participants exceeds 888, only the first 888 users who transfer 2000 LRC are eligible to share 150,000 RICE；
8. Loopring reserves the right of final decision and interpretation of the activity rules.

How to participate:

1. Register Loopring Smart Wallet, here is a guide to install the Loopring wallet.
2. Loopring Smart Wallet’s red-packet and layer-2 transfers all happen on layer 2. You need to ensure that there are enough assets on your Loopring wallet’s layer 2 account. If you transfer assets from an exchange or other decentralized wallet (such as imtoken) to Loopring Smart Wallet, the assets first arrive at the wallet’s layer 1, and you need to move to the wallet’s layer 2. Check the tutorial for more details.
3. A guide to create a Loopring red packet. For Activity #1, please use the ‘Lucky’ red packet feature.

Notes:

This activity is a marketing concession activity for Loopring or its platform partners to resell the project tokens purchased with their own funds to Loopring smart wallet users at a purchase price or lower than the purchase price. The decentralized technology of Loopring Smart Wallet allows users to fully control the assets in the wallet. The activity is based on the principle of free trading in the secondary market and does not involve investment, financing, and asset management; let alone the initial pricing and sale of the project’s primary market tokens. The current market is volatile, so please be aware of the risks.

About DAOSquare

DAOSquare is building an incubator belonging to the Web3 era. It has completed two rounds of financing. It is an innovative project favored by capital, including Hashkey, Alameda, and more than 30 well-known capital institutions worldwide. At the same time, DAOSquare is also incubating the current popular NFT project. They are committed to building a resource network to benefit all participants.

To allow every participant in the DAOSquare network to better obtain and drive rights, they designed $RICE. Any $RICE holder can stake $RICE to become a member of DAOSquare Governance and participate in DAOSquare’s incubation decision-making governance. At the same time, $RICE holders also have the opportunity to participate in the DAOSquare incubation project quota subscription.

About Loopring

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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