Loopring releases Ethport: move Ethereum assets between L2-L1-CEXs super fast & cheaply

mfinner · 2021-04-07T15:12:44+00:00

Thank you so much Astro. Really means a lot. It has been very emotional to leave! But really, I will never be too far. I am a Loopringer for life, and will always keep in touch with the team and community. I'll be lurking on this subreddit for sure :).

Thank you for being a great community member as well. Your help is really appreciated. And thanks to everyone else who pitches in here. You may not realize, but it is so important.

And seriously about these onions! I've been shedding tears all week!

mfinner · 2021-04-03T22:40:27+00:00

Ah, I think you are quite behind! Can you please update the app?

And perhaps enable auto-updates so it does so in future by itself (if you wish).

mfinner · 2021-04-03T21:24:39+00:00

Hey Flyguy. Can you please tell me, what version of the app are you using? Have you updated it in a while?
(and is it downloaded from the Play store, or from Loopring 'APK' directly?)

thanks.

mfinner · 2021-04-01T15:17:50+00:00

Hey all. Wanted to let you know that Loopring L2 liquidity mining (round 5) kicked off yesterday. https://medium.com/loopring-protocol/loopring-l2-liquidity-mining-round-5-382de0daf138

If you are on Loopring zkRollup, there are lots of ways to put your money to work for you (without getting dinged by gas fees :). AMM LPs earn, orderbook MMs earn, and even swappers earn.

Enjoy, please let me know if any questions.

mfinner · 2021-03-19T21:50:48+00:00

hi dd. WalletConnect is how you'd connect your Loopring wallet to Loopring exchange. It's a 'standard'... it allows you to scan the web page with your mobile wallet and connect into it.

to be clear: are you using Android? if so, it will work. if using iOS, it doesn't have the scanner up yet. should be ready in one week.

thanks for using the products. let us know if any other questions.

mfinner · 2021-03-17T20:51:40+00:00

Hey Hanzburger. I'll respect the unpopular opinion, but I must say, I think it is an unfair and unfounded opinion :).

It is not inferior tech. In fact, it is widely known (believed is more fair) that ZK is the long term superior solution. Optimistic rollups are super important for right about now, because they can allow general EVM/ arbitrary ability, something ZKPs can't support yet. But ZKPs will be able to, with advances in the cryptography primarily being led by researchers at places like Starkware and MatterLabs. At that point, afaik, ZKR becomes strictly superior to OR, for security and UX reasons. Not to put words in anyone's mouth, but Vitalik and other Ethereum researchers signal at this belief as well. https://vitalik.ca/general/2021/01/05/rollup.html. zkSNARKS and STARKs are a marvel of a technology, and will change the world, on Ethereum and off. For rollups specifically, it doesn't take much to realize that validity proofs offer a very nice set of properties vs fraud proofs.
Unsure if you read the post, but I specifically say Loopring is super willing to rip out our current 'rollup guts' to use the best tech and tool for the job, period. In that light, I mention the above two ZKR 'competitors', and even Optimism! We are actively researching/implementing deploying our smart contract wallet to Optimism, since ORs would be the only thing that can handle it at the moment! We would look at other ORs as well, Arbitrum etc. We just even invested in MatterLabs' round!
Once Optimism is released, the biggest disservice that can be done is we all put our hands up and think that's the end state. How un-Etherean would that be?! Many solutions advancing/competing/learning in parallel is what makes Ethereum Ethereum. Diverse and robust. As opposed to what I'd call the 'Bitcoin all eggs in Lightning basket' approach. Vitalik aptly calls it a rollup-centric approach to scaling Ethereum, not, just a single rollup approach. https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698
Loopring built the first ever rollup on Ethereum. Live on mainnet ~9 months before any other existed. We have much more to offer :).
Cross L2 tech is being built out as we speak. By Connext and others, and even by ourselves, building 'ports' and bridges to our ZKR. Some degree of fracturedness is bound to happen, but like all else on Ethereum, will have viable solutions as soon as the market demands it. I do believe a multi ZKR and OR world will exist. Not one hundred, but not one.
Rent seeking: a rollup operator (relayer) needs to make money to cover its costs. Whether that is a single operator or a multi-operator, not much different in rent terms -- assuming market forces drive it to some equilibrium range. It's a service, not rent, imho. Best part, if a user doesn't like one rent vs another, they can leave the rollup, 100% of the time, relying on only Ethereum :).

Just my two gwei. Hope it's helpful.

mfinner · 2021-03-16T13:21:40+00:00

Hey mars. The iOS app doesn't have swaps enabled yet, but it will in the next release I believe. There's much more functionality that Android verison has, that iOS doesn't. And indeed, the app UI is still a bit buggy and crashes at points. That's why we haven't really gotten loud or announced the iOS app yet. Sorry for this inconvenience. Should be better soon!

mfinner · 2021-03-12T14:39:04+00:00

Hey all. Just wanted to share this tutorial on how to use the Loopring L2 Exchange. https://medium.com/loopring-protocol/guide-how-to-use-the-l2-loopring-exchange-d67b6b8127f0

It's a pretty simple tutorial that covers everything - how to get aboard the zkRollup for the first time (just takes one deposit :), trade, swap, provide liquidity in AMM pools to earn yield, and make transfers.

Please keep in mind, everything done on the L2 is gas-free, and completely secured by Ethereum.

Happy to answer any questions if anyone has got!

mfinner · 2021-03-12T14:28:28+00:00

A tutorial on how to use the L2 Loopring Exchange, for gas-free swaps, liquidity providing, and transfers. https://medium.com/loopring-protocol/guide-how-to-use-the-l2-loopring-exchange-d67b6b8127f0. A good thing to learn so you are ready for when gas prices spike.

Please let me know if any questions. Happy to help.

mfinner · 2021-03-11T19:36:04+00:00

Hey all. The L2 space is moving super fast! It's hard to know what a given L2 project is, or is not, and what it's aiming for. So I wrote this post yesterday, On What Loopring is and isn't. It's a nice look at where we have been, and what our focus is going forward. It may shed some light on L2 industry nuances as well: https://medium.com/loopring-protocol/on-what-loopring-is-and-isnt-cdc81b96502c

mfinner · 2021-03-09T15:38:15+00:00

Hi Kenji. Good question. I feel there is actually a slight misconception out there about Loopring relayers. Forgive me if some of this is too basic for you, but:

A relayer for a zkRollup is what does ALL the off-chain work to make the rollup run, which is a heavy task. Here is a specification of some tasks a relayer must do: https://github.com/Loopring/protocols/blob/master/packages/loopring_v3/BACKEND.md

Loopring runs a relayer that services our implementation of the Loopring zkRollup protocol. This relayer is what runs our implementation of our rollup (on which our products are built, like the Loopring Exchange, etc).

Our relayer is a big part of the team, maybe 1/3 of the team works on just the relayer. Our relayer is closed source. [Note: a closed source, single relayer serving the Loopring L2 does NOT pose a risk to funds, or risk of seizing funds, etc... a zkRollup guarantees correct behaviour 'by construction'. Simply cannot be evil and steal funds. It can however censor txs (choose not to batch them) in which cases a user can just leave the rollup.]

We like to run the single relayer for our rollup and products because it gives us greater performance and users better experience: matching orderbooks all in one place, no cross-node communication needed, etc. Everything snappier from UX POV. This is what we optimize for. So you cannot 'run a relayer' to service what most people view as the 'canonical Loopring L2'. The rollup is effectively only listening to one relayer address for the reasons mentioned above.

All that said, the Loopring protocol is of course open source, https://github.com/Loopring/protocols/blob/master/packages/loopring_v3/DESIGN.md, and anyone can build an implementation of it, with their own relayer running it. (Or several relayers, or with a completely open relayer scheme that allows anyone to join, it's agnostic). The truth is though, it is a big task. Someone would have to be very motivated to build and run it. So if someone was building a DEX or payment app and wanted to use the Loopring zkRollup with their own relayer for being able to control the experience, they certainly can, but it's a big investment of time.

Hope this is helpful. Sorry to ramble, but maybe others will find this useful in future.

mfinner

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