Provide liquidity, earn DEP in Loopring!
・ Explaining how to provide liquidity or trade DEP on Loopring
In this article, I will explain how to provide liquidity or trade on Loopring and the details of liquidity provider’s incentive program.
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 cost 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 orderbooks 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 few steps should be taken to activate 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 wallets that comes up to comes up to request to confirm transaction. If you confirm the transaction, then your activation is completeafter 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 agree 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 comes up to will request you a signature to unlock the wallet.
You will then find a page per below screen shot.
Please click “Deposit” button to add liquidity. On the otherway, if you are the liquidity provider and want to withdraw from the liquidity pool, then you should click on “Withdraw”.
Now, this is the last step to provide liquidity! You can will find the page per screenshot when you press “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 liquidity provider’s incentive. Whenever a transaction occur for the liquidity you provide, you can earn up to 0.2% of transaction fee in accordance with the share of your liquidity. If your share is 10% in total pool, then your transaction fee by providing liquidity will be 0.02% (equal to 1/10 of total commission) for each transaction.
I. How can I join Liquidity provider’s incentive program?
All you have to do to join the liquidity provider’s incentive program is to be a liquidity provider! There are two benefits to be a liquidity provider. First, you can earn transaction commission fee in accordance with the share of the pool. Second, you can earn DEP as a reward to provide liquidity.
The budget of first time is 1,000,000DEP. If this program works well, DEA will consider adding additional budget for incentive! The more you provide liquidity, the more you can earn DEP!
There’s no time to wait, let’s join this fantastic opportunity and earn DEP!
II. Let’s provide liquidity and earn DEP!
Time is running out, you can join liquidity provider’s incentive program immediately by acquiring DEP from following exchanges. Furthermore, you can sign up for a PlayMining DEP wallet here to earn DEP by enjoying our gaming contents!
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 v2：https://app.uniswap.org/#/swap
1inchexchange：https://app.1inch.io/
Sushi：https://sushi.com/
DeFiPie：https://defipie.com/
Loopring：https://exchange.loopring.io/
