Loopring Bi-Weekly Update — 06/09/2019
We managed to complete the development of a new fee model and further optimize the throughput of our zero-knowledge proof-based Loopring protocol and made remarkable progress on the relayer implementation.
Research & Development
Loopring Protocol v3
We finished implementing the new fee model and ring settlement logic in protocol v3. Our previous versions already support charging any tokens as trading fees. The new fee model completely eliminates the fee token concept from the user’s experience and allows a DEX to charge a percentage of the tokens traded in matched orders. This new fee model not only allows us to closely match the user experience on centralized exchanges (taker/maker orders, market orders, etc), it also improves the throughput of the protocol: the maximum throughput with on-chain data availability increased from 160 TPS (trades per second) to 200 TPS👊👊👊, and the maximum throughput without data availability increased from 525 TPS to 660 TPS👍👍👍.
We have also added better testing for the data availability, ensuring that we can restore the exchange’s state by merely using the data published on Ethereum. We now also have JavaScript code that can sign the protocol requests, making it much easier to integrate with actual products. All tests were updated to make use of it.
We expect to reach the 3.0beta3 milestone by August 31st. 3.0beta3 will be the first version we will make available for third-party security auditing and public testing. It will include quite a few bug fixes and performance optimization.
Oedax Protocol v1
There is no update for Oedax.
Lightcone Relayer v2
Over the past two weeks, we have implemented more tests to verify various components in Lightcone for supporting Loopring v3. We have also refactored all request handling code for better performance. The most challenging parts of the system are done.
In our tests, Lightcone is now able to assemble 10,000 trades into one single Ethereum block 💪💪💪.
Products
We are working on a prototype of a DEX web app to allow people to experience Loopring 3.0beta3. We’ve made some good progress on both the UI and the JavaScript code.
Operations & Marketing
- 05/27/2019 — Loopring and TokenClub co-hosted a live AMA to Loopring Chinese community, talking about Loopring Protocol 3.0.
- 05/28/2019 — TokenMarket, the blockchain-based global investment platform, announced its partnership with Loopring to power their security token exchanges. The collaboration will accelerate security and transparency in the US$222 billion digital asset trading market.
- 05/30/2019 — LRC was made available on the DutchX trading protocol, and the dxDAO launched. Anyone can earn voting power (reputation) within the DAO by locking your LRC. Loopring participated in a big way.
- 06/03/2019 — Loopring partnered with MarsMedia, a professional media platform.
- 06/04/2019 — Loopring CEO, Daniel Wang, was interviewed by Defiprime, talking about Loopring Protocol and the future of decentralized exchanges.
- 06/04/2019 — Loopring intern, Jack Goldstein, wrote a piece about his experience at Loopring and an intro to the protocol.
- 06/05/2019 — Loopring BD Director, Matthew Finestone, spoke with Neil Hughes on the Tech Blog Writer Podcast, explaining DEXs, Loopring, and how the next batch of users may be on-boarded.
- 06/07/2019 — Matthew attended Scaling Ethereum; 3 great days of research and discussions on how Ethereum will scale at the base layer and beyond.
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