Loopring L2 Liquidity Mining: Round 14

Get ready for round 14 of incentives on Loopring’s L2 AMM & Orderbook exchange, beginning at 00:00 UTC September 9, and lasting 28 days. During the event, the settlement cycle will be every seven days. With a total of 4 cycles, rewards will be distributed on the seventh day of each cycle.

We’ve got some amazing projects helping to incentivize the shift to Ethereum zkRollups, so if you haven’t leveled up onto layer 2 yet, now is the time.

The four cycles of this round are from September 9 to September 15, from September 16 to September 22, from September 23 to September 29, and from September 30 to October 6.

The activities are as follows:

1. L2 Trading Tournament

Rewards for traders:

• This round starts at 00:00 UTC on September 9, 2021, and lasts for 28 days.
• Settlement cycles will be every seven days, with a total of 4 cycles.
• Activities are carried out in the first six days of each settlement cycle, and the settlement ends at 00:00 UTC on the seventh day, and the next cycle starts at 00:00 UTC in the next day.
• Loopring has launched the merged liquidity of pools and orderbooks, and upgraded the trading volume calculation system. Now we calculate the trading volume as the sum of AMM and orderbook trading volume.
• In each cycle, we reward the top 25 users with the most volumes(AMM+Orderbook) per pair.
• The rewards of each cycle will be directly distributed to LP’s layer-2 accounts after the seventh day of liquidation.
• The actual size of the reward will scale based on the total reward mentioned, but maintain the same function as before.

2. Orderbook: Liquidity Mining

The following trading pairs will support orderbook liquidity mining：

An awesome experience for trading these tokens on orderbooks at tight spreads, low cost, and high speed.

• This round starts at 00:00 UTC on September 9, 2021, and lasts for 28 days.
• Settlement cycles will be every seven days, with a total of 4 cycles.
• Activities are carried out in the first six days of each settlement cycle, and the settlement ends at 00:00 UTC on the seventh day, and the next cycle starts at 00:00 UTC in the next day.
• For USDC/USDT, the maximum spread is 0.1%; for BKT/USDT, the maximum spread is 1.5%.
• The max spread means that resting limit orders within that spread range is what is rewarded.
• The rewards of each cycle will be directly distributed to LP’s layer-2 accounts after the seventh day of liquidation, but note that single-cycle rewards below $1 will not be distributed or accumulated.
• Other details follow Loopring v1 orderbook liquidity mining rules. Hourly snapshots, measured by order depth, tightness, and balance.
• While you can mine the orderbooks manually, orderbook miners usually love providing liquidity programmatically, so here is our API to do that, and here is Hummingbot, NIOX maker, and other market making software which connects to Loopring Exchange.
• Note: Blocktanium will be incentivizing this BKT/USDT pair for 12 rounds (6 months). So you can plan on adding liquidity for longer. The spread tightness may change per round.

3. AMM: Liquidity Mining

The following AMM pool will support liquidity mining：

• This round starts at 00:00 UTC on September 9, 2021, and lasts for 28 days.
• During the event, every seven days as a settlement cycle, a total of 4 cycles.
• Activities are carried out in the first six days of each settlement cycle, and the settlement ends at 00:00 UTC on the seventh day, and the next cycle starts at 00:00 UTC in the next day.
• 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.
• The rewards of each cycle will be directly distributed to LP’s layer-2 accounts after the seventh day of liquidation, but note that single-cycle rewards below $1 will not be distributed or accumulated.
• 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 L2 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 L2, but the mining rewards will also follow.

If you (as a token project or just a large token holder) want to incentivize liquidity of a token on Loopring L2 in a future round, please fill out this form.

Unsure how to use the Loopring L2 Exchange? No worries, follow this step by step tutorial.

Loopring Exchange on Web: https://exchange.loopring.io.

Loopring Smart Wallet app 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, 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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