Loopring + Taiko: Ready Layer 3

We are excited to announce that we will be rolling out the first implementation of Loopring Layer 3 on top of Taiko, an Ethereum Type-1 zkEVM, as well as integrating their new A3 testnet into our Loopring Smart Wallet — users can now complete tasks + get rewarded with participation NFTs.

With the recent announcement from Taiko about their new testnet, Grímsvötn, we wanted to make it as simple as possible for any users around the world to interact with this testnet, complete tasks, and earn NFT rewards.

Depending on the lifecycle of this testnet, we will be readying our new Layer 3 implementation to deploy on top of it in the coming weeks. Loopring L3 will go live on Taiko testnet A3 or one of the following testnets to showcase what is possible by deploying a highly optimized, application-specific zkRollup on top of a generalizable L2.

This is an exciting time as we believe it is another big step forward in Ethereum scaling and represents the potential future of application design for the space.

Ready Layer 3

Vitalik first started theorizing about the possibility of L3’s on Ethereum here last year, and we couldn’t be more excited to turn this vision into reality by introducing the first ever L3 implementation of our highly optimized, application-specific zkRollup on top of Taiko.

At Loopring, we love to push the limits of what is possible. We introduced the first ever zkRollup on Ethereum in 2019, the first ever Smart Wallet with zkRollup baked in back in 2021, and now we want to be one of the first L3s on Etheruem. We will be using this test environment to deploy new features and gather feedback from the community to work out any bugs and see how far we can take this new level of scale.

Once live on mainnet, L3 will allow us to further decrease costs for our end users (by factors of up to 100x with EIP 4844 on Ethereum also), which will bring the scale and minimal costs necessary to help onboard many more users and use-cases to Ethereum.

Stay tuned to our socials, Twitter, Discord and Reddit, for upcoming announcements on L3 and all it will offer — but for now, start interacting with the Taiko testnet yourself with your very own Taiko L2 account within the Loopring Smart Wallet to begin checking off tasks on your way to earning a participation NFT👇

Want to start using the Taiko testnet today? — All you have to do is:

• download the Loopring Smart Wallet from your mobile App Store
• create a Taiko A3 testnet wallet
• complete the tasks in the checklist
• get rewarded!

Taiko Testnet task checklists are Live!

Simply follow the task checklist to ensure you will be rewarded with participation NFTs in the Taiko testnet.

(NOTE: this feature is now rolled out on iOS + android)

The above tasks will be available to complete immediately on the Taiko test network, and we will continue to add more tasks in the coming weeks — so keep checking in!

We will automatically airdrop 0.1 test ETH to all new activated Taiko wallets so that you have funds available to complete tasks 💙

NFT participation rewards

We will be distributing participation NFTs to users of all of the Taiko testnets who are completing the task lists within the Loopring Smart Wallet.

Users who complete all tasks will be rewarded with a participation NFT sometime before Taiko officially goes to mainnet. Participation NFTs will be minted and distributed on Loopring L2 to ensure they remain available all the way through to mainnet. Be sure to activate a corresponding Loopring L2 wallet within your app to be ready to claim your NFT.

We will announce more details on the participation NFTs as soon as we have the details worked out — follow along in the app and on our socials for official updates. More tasks will also be added to the checklist as the testnets progress, so keep checking in!

New Testnet, New Wallet Address

One big change with this new Taiko alpha 3 testnet is that new wallets created will now be able to persist with the same address moving forward.

If you had previously set up a Taiko A2 wallet, you will have to follow the steps to delete this wallet and set up a new Taiko A3 wallet.

However, to ensure NFT rewards stay with you all the way to mainnet, we will be minting and transferring all rewards from all testnets to the Loopring L2 wallet within your same app as the Taiko testnet wallet.

Be sure to bind your Loopring L2 wallet to your new Taiko wallet to ensure you receive the NFT rewards!

Don’t worry if you haven’t set up your Loopring L2 wallet just yet, it can be activated and bound any time in the future, just don’t delete your Loopring Smart Wallet, as it securely stores your private key for all associated wallets locally on your device for you!

Stay tuned to our Twitter, Discord and Reddit for upcoming announcements regarding the NFT airdrops.

More networks coming

Taiko is the first network integration as part of our new multi-network strategy with Loopring Smart Wallet, with more to follow.

We want to take the security of the Loopring Smart Wallet, with social recovery, and introduce it to millions of other users across other networks as well — it’s time every crypto user gets access to the future of crypto wallets with Ethereum’s best social recovery smart wallet!

About Loopring

Loopring is an Ethereum Layer 2 zkRollup protocol for scalable, secure DeFi and NFT applications. Loopring builds non-custodial, high-performance products atop our L2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring L2 web app — an L2 orderbook and AMM DEX. To learn more, follow us on Medium or see Loopring.org.

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