Loop-Ring AMA

Sep 09, 2019

Loop ring AMA

At the beginning of the month, on Friday, August 2nd, we had an AMA session with, software for decentralized exchange construction, in our. Our community was introduced to the project by Loopring Founders Daniel Wang and Matthew Fine, Business Development Director. Here are the key points of the meeting: Please greet Daniel (D), Matthew (M) and the questions from our telegram chat members (Q)


D: Ich habe eine CEX genannt haben coinport. Also habe ich all die Frustrationen ein CEX Besitzer wissen muss. Ich wollte eine Lösung für mich schaffen und mit einem Whitepaper und eine ICO endete. Aber die neueste Version basiert auf Vitalik des ZK Rollup Idee.

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D: Wir arbeiten seit zwei Jahren auf Loopring und lieferte drei Hauptversionen des Protokolls. Aber wir erkennen die Leistung ist schrecklich und nicht bereit, überhaupt mit CEXes zu konkurrieren. Dank ZKP und ZK Rollup, sind wir ein paar Tage weg unsere performante Version von Loslassen, Loopring 3 beta3. Theoretisch kann es bis zu 300 Transaktionen pro Sekunde mit On-Chain-Daten-verfügbar und 6150 Transaktionen pro Sekunde ohne begleichen. Wir bieten auch viele andere Funktionen, und einer von ihnen ist sehr wichtig: es Benutzern, ihre Token sofort verwenden können, nachdem ein Handel durch die relayer bestätigt wird. wir nennen es offensichtlich Benutzer Endgültigkeit. Dies gibt DEXes die gleiche Benutzererfahrung als CEXes in Bezug auf den Handel. professionelle Händler und Market Maker sehr wichtig.

I must also mention that we have no tradeoff uncertainty, if we scale our DEX protocol, no (unsafe) side chains are involved. Everything happens on Ethereum MainNet.

In the near future we want help partners build DEXes on top of our protocol and enable them to complete with CEXes, we believe the technology is mostly ready.

In the long run, we're also interested in decentralizing the relayer infrastructure by providing a dual-blockchain DEX solution that we're still researching and may need to explain a lot of words. Not a side chain though.

M: LRC is now used as a stackable token. It can be staked out by anyone to earn part of the protocol fees in the network, and is also guaranteed to be staked out by DexS for additional economic security. We actually only publish this post 2 days ago.

D: Concentrating on competing with and replacing CEXes. But we can also work on another cool thing, but I can't say much now.

M: There is a fixed supply of LRC that was minted 2 years ago during our ICO. From here it can only be deflation as some are burned as a result of network protocol fees and volume.

D: We honestly don't know. The crypto space is going to change on a daily basis, we have to be nimble, we have to keep learning and adapting our roadmap and schedules. We only have a 6 month roadmap. But we have a long-term vision: high-performance trading without trust


D: Loopring is more of a "non-deprived centralized exchange protocol", but we all call it the DEX protocol because users claim to be held by the users themselves. In the future the central component, relayer will also be decentralized. Until then, we will have a decentralized protocol. As of now, if you look around, all DEXes have centralized components except EtherDelta and the like, but their performance is poor.

D: Yes, we do. We are a partnership with WeDEX in China, UpDEX in Hong Kong, Dolomit in the USA, and TokenMarket in the EU. But we gradually want to roll up DEXes.

D: We still have some challenges: 1) we have to dig in ZKP and implementations, now we use some open source libraries (libsnark, eth snark, etc), 2) we need to find ZKP curves better and can do recursive checks, 3) we need the proof to reduce production costs by a different size in order to remain competitive.

We have a DEX to enable us to have great user experience, liquidity and trading volume. The current tradign volume combined on all DEXes is still too small. Competing with existing DEXes is never our goal, we want to get rid of most of the CEXes.

We give DEX owners full control, Loopring doesn't own any part of a DEX. You need to find out how to do the bootstrap.

M: The option, KYC or not, is not actually a looping protocol decision. We offer the tech - but an actual DEX product will decide how they run their business in their area of ​​responsibility and can easily add KYC into it. Or they cannot choose. until they are complete. Dolomite.io, based in the USA, for example, builds on Loopring and enforces KYC.

D: performance and trade finality. These are the open questions for DEXes. We can proudly say that our solution works.

We were happy to host (Twitter -) on our website. Thanks to the team and all members of the session!

Always be up to date about the next AMAs and other project with Atomic Wallet, and see you soon!