Loopring Bi-Weekly Update — 03/16/2019
We published the design of a new auction-based trading protocol, scheduled an LRC token contract upgrade, and made substantial progress in Loopring Protocol 3.0.
Research & Development
Protocols
We have made significant progress in Loopring Protocol 3.0’s development. The current plan is to open source our GitHub repository by the end of April with a whitepaper dedicated to this new major upgrade.
We have also published an auction-based protocol design called Oedax (Open-End Dutch Auction Exchange). Oedax is complementary to order-based trading protocols including Loopring and will be used by the Loopring Protocol 2.0 to automate the fee-burning feature. Oedax will be open-sourced in Q2, 2019. If you are interested in developing Oedax on infrastructures other than Ethereum, please reach out to us.
We have prepared and scheduled an upgrade to our current LRC token smart contract on May 8th, 2019. After the upgrade, LRC’s total/max supply will gradually decrease according to network usage.
In the near future, the fee-burning design in v2, the Oedax protocol, and the new LRC token contract will seamlessly work together and fundamentally change Loopring. Loopring Protocol 3.0 will open a new door for scaling DEXs.
Relayer
The Lightcone relayer backend is code-complete. We are performing integration testing and refactoring some unit tests. The testing will last for as long as it requires, but we are trying our very best to launch a beta internally in one month. In the meanwhile, we are also documenting the new APIs for our ecosystem partners.
The Lightcone relayer will be open sourced to select partners and will be available as cloud-based API services for DEXs, wallets, and market makers. It will effectively be Matching-as-a-Service for any non-custodial trading needs. If you are interested to get early access to Lightcone, please contact our operation team at service@loopring.org.
Products
We have started to integrate UpWallet with Lightcone relayer. In the meanwhile, we are planning to redesign UpWallet to provide a much better user experience and make it more stylish. If you are experienced in crypto wallet app UX/UI design and are enthusiastic in decentralized exchange or DeFi in general, please reach out to us — we are looking for talented part-time designers.
Operations & Marketing
- 03/05/2019 — Loopring protocol developer, Brecht Devos, was in Paris for EthCC. Brecht is leading the development of the very promising Loopring Protocol 3.0.
- 03/06/2019 — Loopring’s Matthew Finestone attended Fintech Cadence’s Ascension accelerator to help mentor fintech startups on blockchain day.
- 03/07/2019 — Kriptomat hosts a live video AMA with Matthew speaking about all things DEX.
- 03/08/2019 — Loopring sponsored the ETH UofT hackathon at University of Toronto. Our main prize went to Ryan and Daniel of team PeerRing for their Android P2P trading app.
- 03/13/2019 — LRC was listed on BC Bitcoin, where users can buy and sell LRC with multiple fiat currencies.
- 03/15/2019 — Loopring partnered with Changelly, to open LRC to USD/EUR purchasing channels. Users can use their credit cards to purchase LRC directly through Changelly.
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