PlayMining will join Loopring Holiday Trading Giveaway Campaign!

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PlayMining

6 min readDec 23, 2021

・Holiday campaign with our existing good partner in zkRollup, Loopring!

In this article, I will explain how to provide liquidity or trade on Loopring and the details of Loopring holiday trading giveaway campaign.

Overview:

I. Who is Loopring?

II. What is Layer2?

III. How can I activate Layer2 wallet?

IV. How can I provide liquidity to Loopring?

V. How can I join Liquidity provider’s incentive program?

VI. Let’s provide liquidity and earn DEP!

I. Who is Loopring?

Loopring is an Ethereum Layer-2 scaling protocol. It allows for building high-throughput, low-cost, non-custodial AMMs, orderbook exchanges, and payment applications on Ethereum by leveraging Zero-Knowledge Proofs.

We are really happy to announce that DEP is listed on Loopring and also to hold a campaign for liquidity provider’s incentive program collaborated with Loopring!

II. What is Layer2?

Layer 2 is designed to confirm small transactions more quickly as well as to reduce transaction costs on the main network. Layer 2 totals are then transmitted to Layer 1 (main network/main chain). Layer 2 blockchains, along with “sidechains” are hot topics in the crypto world because they amplify the functionality and scalability of the major blockchain networks. By using Layer2, you can experience quick transactions with quite low gas fees.

The Layer 2 for Bitcoin is known as the Lightning Network. For Ethereum, “Rollups” are well-known. For example, “Optimistic Rollups” take seven days to confirm on the main chain, during which time a transaction can be disputed. ZK Rollups (Zero-Knowledge Rollups) hold funds in a smart contract on Ethereum. After a “validity proof” has been accepted, transactions are confirmed and the funds are available. Loopring is also the main player of Layer2 that provides crypto exchange service with quick and low gas fee transactions. Loopring is spoken as the leading non-custodial trading platform built on an Ethereum zkRollup (Loopring protocol).

You can trade and provide liquidity on AMM pools or order books gas-free, at high-speeds,and securely. All you need to do is plug in your MetaMask or WalletConnect-compatible wallets.

III. How to activate Layer2 wallet and deposit DEP?

There are a few steps that should be taken to activate the Layer2 wallet.

・Access Loopring exchange

・Press your wallet icon and press “ACTIVATE LAYER-2” button

As shown on the screenshot, press “ACTIVATE LAYER-2”

・Then press #DEPOSIT TO ACTIVATE LAYER-2” button

After you agree to deposit, MetaMask or other connectable individual wallets will request to confirm the transaction. If you confirm the transaction, then your activation is complete after your transaction has been submitted and confirmed.

This is a one-time procedure so you do not have to do this process once you have activated your Layer2 wallet.

IV. How can I provide liquidity in Loopring?

Once you have activated your Layer2 wallet and unlocked to deposit your ETH and DEP into Layer2 wallet, now is the time to provide liquidity!

To provide liquidity, you will have to prepare ETH and DEP in your wallet. Access Loopring exchange mentioned above and press “Pool” button. When you press pool button, you will see the screen below.

Once you have access to this page, press “UNLOCK TO ADD LIQUIDITY” button to add liquidity. Metamask or other connectable wallets that come up will request you a signature to unlock the wallet.

You will then find a page per below.

Click the “Deposit” button to add liquidity. On the other way, if you’d like to withdraw, then you should click on “Withdraw”.

Now, this is the last step to provide liquidity! Youwill be directed to the page per screenshot when you press the “Deposit” button.

You can decide the amount to provide liquidity of ETH and DEP. After entering the amount, press “Confirm transaction” to proceed. When the transaction has been confirmed, you are all set!

When you provide liquidity, there are great benefits in addition to the liquidity provider’s incentive. Whenever a transaction occurs for the liquidity you provide, you can earn up to 0.2% of the transaction fee per the share of your liquidity. If your share is 10% in the total pool, then your transaction fee by providing liquidity will be 0.02% (equal to 1/10 of the total share) for each transaction.

V. How can I join a holiday trading giveaway?

All Loopring L2 or Smart Wallet users that trade in the $DEP/$ETH trading pairs are eligible for the trading competition. Loopring will rank the top 100 addresses in terms of volume (AMM+Orderbook) per pair, and provide them with a total of USD50k rewards amount of $DEP to the participants.

Important note: If you use the Loopring mobile Smart Wallet to trade, your volume will be weighted an extra 50% higher so be sure to use this opportunity. (i.e., Smart Wallet users will receive a 1.5x multiplier in trading volume)

There is only 1 week for the campaign, December 23 0:00AM(UTC) to December 30 0:00AM(UTC) so be sure not to miss it!

DEP/ETH, the rewards of the top 25 traders will be as follows, 1st place will be rewarded with 245,000 DEP;

The users ranked 26–100 will each be rewarded with 2,450 DEP. Rewards will be directly distributed to winners’ Layer 2 accounts before December 31. Loopring reserves the right to final decisions and interpretations of the rules of the swap tournament.

There’s no time to wait, let’s join this fantastic opportunity and earn DEP!

VI. Let’s provide liquidity and earn DEP!

Time is running out, you can join the liquidity provider’s incentive program immediately by acquiring DEP from the following exchanges. Furthermore, you can sign up for a PlayMining DEP wallet here to earn DEP by enjoying our gaming content!

VII. Our partners

Bittrex Global：https://global.bittrex.com/Market/Index?MarketName=BTC-DEP
INDODAX：https://indodax.com/market/DEPIDR
OKEx： https://www.okex.com/spot/trade/dep_usdt#type=1
Bithumb Global：https://www.bithumb.pro/en-us/spot/trade?q=DEP-USDT
Bitrue：https://www.bitrue.com/trade/dep_usdt

DigiFinex： https://www.digifinex.xyz/zh-cn/trade/USDT/DEP

Uniswap：https://app.uniswap.org/#/swap

1inch：https://app.1inch.io/

Sushi：https://sushi.com/

DeFiPie：https://defipie.com/

Loopring：https://loopring.org/#/

Anyswap：https://anyswap.exchange/swap

Wault Finance : https://app.wault.finance/bsc/#overview

Beefy Finance : https://app.beefy.finance/

CafeSwap : https://cafeswap.finance/farms