Loopring Bi-Weekly Update — 06/24/2018

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Loopring Protocol

5 min readJun 24, 2018

First of all, let’s welcome Matthew Finestone to join the Loopring Foundation as Director of Business Development. Matthew is from Montreal, Canada, he has worked in investment banking for a few years, and most recently on a fixed income (bond) institutional sales and trading desk. Two years ago he got into crypto and had been providing crypto-related consulting for several companies.

Matthew is also one of the authors of Loopring’s new whitepaper. We believe Matthew’s devotion will raise Loopring’s awareness and reputation among global developer communities and accelerate Loopring’s adoption and partnership.

LRN AIRDROP

We are about to airdrop the first batch of LRN tokens to LRC token holders on July 5th (Beijing Time). We have collected 2633 bound NEO addresses. If you haven’t bound your LRN address, we urge you to do it before June 30th.

We will take the 1st airdrop snapshot on Ethereum between July 1st and July 4th (Beijing Time). Make sure you move your LRC to your own wallet.

PROTOCOL

On Ethereum

We had been focusing on the design and implementation of protocol 2.0. We have achieved the following:

The submitRings method takes only one bytes argument. Inside the method, all parameters are decoded from this byte array. We have proven that such encoding/decoding technology will significantly reduce gas usage.
We have implemented the same encoding logic in our new unit test framework.
We have also updated our testing framework so multiple rings can be submitted within one invocation of the submitRings method in uint tests.

Besides, we have also gone through another round of review of many ERC20 token smart contract code, and unregistered tokens that have a backdoor for minting more tokens.

On NEO

We’ve hit a critical milestone this week: we deployed the very first version of the Loopring Protocol on NEO test-net. Its hash is:

0xaedb65f502cc2b21a2299fd29bf1dbffad9c0b5d

This protocol, Loopring on NEO, honers LRN tokens as the matching fee, and settles any order-ring within an atomic operation. We are getting closer to facilitating all NEP5 token exchange on NEO.

BACKEND

We have made several notable improvements to our relay-cluster implementation, including:

We provided a POW-style throttling mechanism to limit the number of API invocations. Clients need to calculate a nonce to access the backend relay cluster API. When the total number of requests increases to certain levels, the difficulties will be adjusted accordingly.
For our relay-mesh liquidity sharing network, we switched from IPFS to Matrix, an open network for a secure, decentralized communication solution. Matrix provides us with a way to reduce spam, protects the network from attacks, and offers finer control of who can join the network. We expected to have something working next week.
We implemented a better way of handling Ethereum nonce value for each address.
We added new order states including “matching”, “canceling” to better describe order’s lifecycle.

We have also created docker images for relay-cluster, miner, and extractor. Related documents have also been curated for developers to deploy their own relay cluster.

FRONTEND

Loopring.js

We have released a new version 1.0.1 on npmjs.com with further optimization and new functionalities.

Loopr & Circulr DEX

We don’t have an update for Loopr。You can try it: https://loopring.io。

Circulr differs Loopr in that it doesn’t access users’ private keys. You authorize orders and transactions by scanning a QR code. We have added soft order cancellation to Circulr to reduce gas. We’ve also enabled Circulr to optionally display newly added trading pairs automatically (without wallet configuration changes). Besides, we have also enabled the price chart to display token pricing information provided by the MyWallet platform.

We have just launched a beta version for testing: https://circulr.loopring.io。

H5Dex

H5Dex is a set of embeddable HTML5 responsive web pages that can be easily integrated into website and mobile apps. We have been working on this sub-project for some and will open-source it soon. With H5Dex, engineers can turn their website and mobile apps into the decentralized exchange gateway.

H5Dex is being integrated into the Tokenest wallet and will be part of our official Loopr iOS wallet shortly. A new DEX dApp on imToken’s platform will also integrate H5Dex. We expect this type of loosely coupled integration approach will probably be more favorable for mobile app developers.

App Development

We temporarily stopped working on Loopr-iOS now to help a partner, Tokenest wallet, to integrate H5Dex into their iOS app. We are also helping them to improve the app’s UX and UI, including:

A new color theme, new icons, charts, and fonts;
More pages including creating new addresses, settings, etc.
Optimized scrolling.
Simplified gas settings.
Added animation.

Hopefully, with our help, they will launch the app in early July. After that, we will resume Loopr-iOS development with an improved UI.

One of our ecosystem partners, Loois Wallet, has also made meaningful progress in terms iOS and Android app development。They released an update on their WeChat public account (in Chinese only).

Another partner, Uone.io announced its launch of a decentralized token exchange based on the Loopring Protocol. Uone.io is one of the first functioning Loopring DEX apps.

DOCUMENTATION

We have created GitHub pages and curated more documents for most of our open-sourced projects, including:

We are going to link to these documents from within our yet-to-be-launched Developer Portal.

OPERATION & MARKETING

June 14th, 2018，Daniel attended UZen 50 Blockchain Talks -China & the US, and shared Loopring’s solution, value, and vision.
June 15th, 2018, Daniel had a live broadcast sharing the Loopring Protocol and DEX ecosystem through Blockchain World’s popular blockchain interview channel.
June 15th, 2018, Loopring, and MyToken cohosted a meetup.
June 15th, 2018, COO Johnston delivered a keynote at the Disrupt & Breakthrough blockchain summit.
June 23rd, 2018, Daniel had a live broadcast to Huolian Blockchain community.
June 24td, 2018, We held an online salon with token holders from 30 cities in China. The Loopring team also showed the process of binding addresses to receive LRN airdrop.

Summit

We are organizing the 2018 Blockchain Economic Summit on July 7th, 2018, in Shenzhen, China. Companies including PWC, Ontology, and OmegaOne will join us and share their stories and visions. If you hold LRC and want to be part of the event, please claim your free ticket on https://loopring.io. Please scan the QR code at the bottom of the photo below for details.