Loopring L2 Liquidity Mining: Round 6

L2 Liquidity Mining Round 6

1. AMM: Liquidity Mining

The following AMM pools will support liquidity mining：

• This round starts at 00:00 UTC on April 15, 2021, and lasts for 13 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 on the day after the campaigns end (Day 14).
• 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.

2. Swap Tournament

We will rank each user’s DPR/ETH trading volume between April 15, 0:00 AM (UTC) and April 22, 0:00 AM (UTC). Each of the top 10 users will win the right to purchase DPR at $0.02.We will announce the winners on April 23, please follow Loopring twitter at that time.

Rules:

1. Each winning address is eligible to purchase up to 100,000 DPR.
2. After the winners are announced, they need to transfer US$2,000 worth of LRC to the Layer2 account of earn.loopring.eth within 48 hours. If the transfer is not done in time, we will remove the user from the list.
3. DPR price: $0.02.
4. LRC price: Coinmarketcap close price on April 22.
5. For the winners who completed the transfer, we will transfer 30% of the purchased DPR (30,000DPR) to your Loopring Layer 2 account within seven days, and the remaining 70% will be distributed in installments of 7% every month for ten months.
6. The DPR/ETH swap tournament and our DPR lottery event end on the same day, and the top 10 winners of the swap tournament cannot participate in the lottery event at the same time.
7. Loopring reserves the right of final decision and interpretation of the rules of the swap tournament.

3. Orderbook: Liquidity Mining

Vesper is incentivizing the VSP-ETH & VSP-DAI orderbook pairs. An awesome experience for trading this DeFi token on orderbooks at tight spreads, low cost, and high speed.

• For VSP/ETH and VSP/DAI, the maximum spread is 1.5%.
• The max spread means that resting limit orders within that spread range is what is rewarded.
• 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.

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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