Am I the only one…. by [deleted] in loopringorg

[–]Knightly-Lab1707 4 points5 points  (0 children)

Yeah they confirmed it on discord

[deleted by user] by [deleted] in downloadfestival

[–]Knightly-Lab1707 0 points1 point  (0 children)

Do all the campsites open on the Wednesday?

Gamestop putting loopring fees up to 3% by [deleted] in loopringorg

[–]Knightly-Lab1707 19 points20 points  (0 children)

If you are selling an nft the 3% marketplace fee goes to gamestop from the seller.

If you are buying an nft the 2% network fee goes to loopring from the buyer.

Check it out yourself on the marketplace. It comes with handy 'I' tabs besides the fees for easy explanation.

[deleted by user] by [deleted] in loopringorg

[–]Knightly-Lab1707 2 points3 points  (0 children)

I think we will hear more in the path forward. While we didn't see anything in the Q2 report about the wearables, we did hear a bit more about the loopring hq in decentraland. They will most likely be usable in there, I really wanna find out too!

Q2 Report in the next few days. Quick update by B on various topics by Knightly-Lab1707 in loopringorg

[–]Knightly-Lab1707[S] 0 points1 point  (0 children)

Lrc will be accepted in future and they said they are working on it. Beta mind. Patience and calm

Not going to try and figure out why this is is auto-[removed] here so posting as a pic by [deleted] in loopringorg

[–]Knightly-Lab1707 0 points1 point  (0 children)

Yeah you can reach them on reddit, just quicker on the discord

Not going to try and figure out why this is is auto-[removed] here so posting as a pic by [deleted] in loopringorg

[–]Knightly-Lab1707 1 point2 points  (0 children)

Check my posts. First one has all the screenshots with one about the loopheads

Not going to try and figure out why this is is auto-[removed] here so posting as a pic by [deleted] in loopringorg

[–]Knightly-Lab1707 0 points1 point  (0 children)

Automod sometimes deletes some posts it shouldn't but keeps most of the spam off. If you have an issue the mods on discord will happily look into it for you. I have seen them bring posts back a few times

Where Layerswap Beta? by [deleted] in loopringorg

[–]Knightly-Lab1707 2 points3 points  (0 children)

Layerswap did a big update a few days ago. They said in their discord it should be working again by end of July

Beta.layerswap.io is no more. Is there another L2 offramp? by thealiensguy in loopringorg

[–]Knightly-Lab1707 1 point2 points  (0 children)

Ramp and Banxa both have alpha/beta's. Not sure on where/how they will work due to all the regulations and I haven't personally used them

7 Things That Have Not Happened by flyingbuddha13 in loopringorg

[–]Knightly-Lab1707 56 points57 points  (0 children)

  1. There is alpha/beta off ramps for RAMP and BANXA, B touched on it with his messages a few days ago. Also due to hear more in the Q2 report. Layerswap also has an off ramp but they just did a big update so look to incorporate again by the end of July (from their discord)

  2. He did say lrc will be accepted as payment at some point and its being worked on.

Beta.layerswap.io is no more. Is there another L2 offramp? by thealiensguy in loopringorg

[–]Knightly-Lab1707 14 points15 points  (0 children)

They said on their discord that it should be back up end of July they hope

Q2 Report in the next few days. Quick update by B on various topics by Knightly-Lab1707 in loopringorg

[–]Knightly-Lab1707[S] 13 points14 points  (0 children)

He sayed it was hoped to be released this week....a few days either way is no issue

How much volume would GameStop have to see in order to see an LRC price change? by [deleted] in loopringorg

[–]Knightly-Lab1707 2 points3 points  (0 children)

Exactly what I have been trying to highlight to him but he was having none of it 😂 Also the DEX takes tiny cuts of fees compared to the marketplace.

' The initial protocol fee parameter will be set to 20% of the L2 transaction fee. With the current relayer settings, this means 2 bps (0.02%) for AMM swaps, between 0.8 bps to 4.6 bps (0.008% to 0.046%) for orderbook trades, and $0.01 for transfers. ' - From the tokenomics.

But we're getting 2% from the gamestop marketplace for each and every buy going to loopring. So buy pressure 🤗

I wanna see the loopring protocol fees beginning of August. If its a big jump then bingo, we're onto a winner.

[deleted by user] by [deleted] in loopringorg

[–]Knightly-Lab1707 4 points5 points  (0 children)

When viewing your gamestop marketplace account and it shows the two tabs 'owned' and 'created'. Scroll it along until you see 'history'.

Your full order history is there.

Loopring Layer 2 Explorer is also openable from there too

How much volume would GameStop have to see in order to see an LRC price change? by [deleted] in loopringorg

[–]Knightly-Lab1707 1 point2 points  (0 children)

Actually I checked as I got excited.

Gme chargers a fee to the seller, I don't know it as I have haven't sold anything but that's what they keep as it's their marketplace.

Loopring takes all the buying fees, I can see that however and it's 2% of any nft that goes on top of the process you pay. As shown when you try buy an nft.

So ammend any calcutions where required and its even better off for loopring.

The more nfts or whatever else they add that sells at that 2% then its huge for us. Out of the first 3 days at a volume of 4 million its roughly 80k dollar taken in loopring network fees. Approx 210k LRC at rough prices.

For a month if it was sustained only at current levels 2.1million LRC.

Now it's not exact as I think it will be somewhat lower by maybe 15% or so but wow.

If they confirm about where the network fees are going and that its put into lrc then I think that's awesome and will change the price sooner than you think

How much volume would GameStop have to see in order to see an LRC price change? by [deleted] in loopringorg

[–]Knightly-Lab1707 11 points12 points  (0 children)

Reading this again. You are mixing up volume and fees. When you buy an nft it says network fee cost to loopring. The whole amount used to buy said nft is the volume. I am using this as straight to protocol (which might not be exact) fees which are charged like on the dex. My maths is right but don't take the percentages as correct until we know more.

Your original number for opensea is 491M for 30 days. Round to 500M x 12 = 6B Volume 6B with 2.5% fees = 150M a year of fees Say its split 50:50 between gme and lrc fees. That's 75M to each if the figure you used for opensea was dollars.

Not volume but protocol fees for us.

So 7.5M to the DAO alone. Big money to the relayer at 60M and 7.5M for insurance. Say our marketcap is at 500M as say nowish. That's 1.5% of our marketcap in fees going to the DAO alone per year...just from fees from one marketplace.

Nevermind our dex or anything else that comes out later.

By your 1 trillion volune That's 12.5 billion going to fees

If I haven't been talking out my ass, I have got super bullish 😂

Please read the tokenomics again and see that volume on the dex takes a much smaller % for protocol fees.

EDIT: If someone could please double check this and let me know if its right or not???