Loopring L2 AMM Liquidity Mining: Round 3
Recap of Round 2
In the past month, Loopring has launched two rounds of AMM liquidity mining activities. The total value locked on Loopring zkRollup now exceeds $200M. And the APY of many AMM pools exceeded 100% by the end of round 2.
You can expect your round 2 liquidity mining rewards to hit your Loopring L2 accounts automatically within the next day, or they may have arrived already.
The dashboard where you can see which pools have which rewards, and the corresponding APYs is: https://exchange.loopring.io/info/pairs.
If you are using the Loopring smart wallet on mobile, you can see it in the AMM liquidity page.
Trading volume of Loopring’s Layer 2 AMM DEX broke a new high, with a 24-hour trading volume exceeding 24 million USD.
You can see Loopring volume stats and much more info via on-chain data at https://duneanalytics.com/loopring.
Alternatively, via data sites like Coingecko.
If you want Loopring Exchange aggregate data like you see above, and don’t want to read from on-chain, Loopring relayer has data reporting APIs.
L2 Liquidity Mining Round 3
We’ll launch the third round of incentives at 00:00 UTC, February 11th as follows:
1. AMM Liquidity Mining & Swap Tournament
The following AMM pools will support liquidity mining and swap tournament. The first pool is powered by Loopring, and the rest are sponsored by the corresponding projects, with Loopring matching a portion of the projects’ incentives.
One thing you’ll notice is that the Loopring incentivized pool of ETH-USDT has double the reward of the pools in prior rounds. 800k LRC distributed to LPs in that pool over 14 days. 200k LRC going to the top swappers in that pool.
Liquidity Mining rewards goes to AMM pool LPs, Swap Tournament rewards go to swappers in that pool.
If you want to incentivize liquidity of a token on Loopring L2 in a future round, please fill out this form.
2. Orderbook Liquidity Mining
We’ll also continue orderbook liquidity mining for the USDC/USDT, and DAI/USDT trading pairs on our orderbook as follows:
Rules
1. AMM Liquidity Mining
- This round starts at 00:00 UTC on February 11th, 2021, and lasts for 14 days.
- We take random snapshots of the relevant AMM pools several times per day to calculate the size of reward each LP earns based on the average of all snapshot balances in the round.
- Rewards will be directly distributed to LP’s layer-2 accounts within three days of the end of the round.
- Providing liquidity is how you mine. You automatically start mining without any other user action.
- Mining does not involve locking up your funds, but the LP tokens must stay in your Loopring layer-2 account. If you withdraw LP tokens to the Ethereum mainnet, you cannot get mining rewards, because it will not be recorded in the snapshots. You can transfer part or all of your LP tokens to other accounts on layer-2, but the mining rewards will also follow.
2. Swap Tournament
- We pay only the top 25 users with the most swap volumes in a pool.
- For our flagship pool, we will pay according to the above chart. For other pools, the actual size of the reward will scale based on the total reward, but maintain the same function.
3. Orderbook Liquidity Mining
- The maximum spread is 0.1%.
- Other details follow Loopring v1 orderbook liquidity mining rules. Hourly snapshots, measured by order depth, tightness, and balance.
That’s it! Happy liquidity providing, swapping, and market making. All fast, gas-free and secured by Ethereum. Thank you for experiencing L2 early on!
Loopring Exchange on Web: https://exchange.loopring.io
Loopring Smart Wallet on mobile: https://loopring.io
Loopring API: https://docs3.loopring.io.
For any questions, feedback, or to join the community of Loopringers, feel free to join our Discord.
About Loopring
Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our Layer-2 protocol, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — L2 AMM and orderbook DEX. To learn more, you can sign up for our Monthly Update or see Loopring.org.
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