Vesper Liquidity Mining on Loopring [Layer 2 Dex]

We are excited to announce that, as of today, the Vesper community will be able to participate in the VSP-ETH liquidity mining on Loopring’s Layer 2 DEX.

The VSP-ETH trading pair is available on the Loopring L2 limit order book, as well as via the Loopring AMM. Over the next three months, community members that contribute VSP-ETH liquidity will receive VSP rewards.

As a Layer 2 DEX, users can take advantage of gas-less swaps and orders for VSP. Vesper is L2-enthusiastic, so this is a great opportunity to introduce our community to this technology in anticipation for more Vesper buildouts to come.

VSP Liquidity Mining Program

Loopring breaks their liquidity mining program into “rounds” that last 14 days each. Vesper will be contributing 1,300 VSP per each round, with the expectation of continuing the program for six rounds (roughly three months). VSP rewards will be distributed at the end of each 14 day period.

Reward calculations follow a formula that multiplies the volume of a user’s buy/sell orders by time-spent within 2% of the market price. You can learn more about Loopring’s orderbook liquidity mining in the post here (note that the post is from June but the calculation still holds).

Vesper is specifically incentivizing LP’s on the Loopring orderbook. With L2, users will be able to place limit orders in a permissionless, dex fashion that is still affordable for the average user — since they aren’t required to pay a transaction fee when making or taking orders.

Loopring has also allocated LRC rewards to traders on the VSP-ETH AMM. Information on getting started and using Loopring’s AMM and orderbook markets can be found here.

The Loopring team has proven themselves to be steadfast bear-market-builders and we are proud to be working hand-in-hand with them to propel the DeFi ecosystem, and our respective project communities, forward.

Vesper has been laser focused on user experience and ease-of-access to DeFi and we believe layer 2 solutions like Loopring are critically important to scaling Ethereum and offering users a fast, frictionless and fee-minimized DeFi experience.

As always, follow us on Twitter, Telegram, and Discord. The team has also tilted up a subreddit on a trial basis.