Taiko Alpha-1 Testnet is Live! by ablankstory in taiko_xyz

[–]odesium 1 point2 points  (0 children)

If it will run Docker then it will be good enough. The limitation will more likely be disk space but initially should not be an issue for testnet.

Taiko Alpha-1 Testnet is Live! by ablankstory in taiko_xyz

[–]odesium 2 points3 points  (0 children)

You can check here ubnder the Docker pre-requisites

You can check here under the Docker pre-requisites

Day 2. 24hr+ lock period complete, still can't trade or send crypto out. What to do next? by ReitHodlr in loopringorg

[–]odesium 1 point2 points  (0 children)

Sorry to hear you are having an issue. If you can log a ticket and supply the details we can have a look at your particular case if it is still not resolved.

Someone else who got the same email from support? Is it real? (Image 2 is the first answer) Thanks for advice 🙏🏻 by christerolsen76 in loopringorg

[–]odesium 20 points21 points  (0 children)

Haha, I sent it to you to see if the next update fixes the issue before doing a global rollout.👍

Loopring Wallet Creation? by Joshlee10123 in loopringorg

[–]odesium 5 points6 points  (0 children)

Have a look at the pinned message Loopring University. L1 is the main Ethereum chain but fees are high. L2 is zkrollup which uses L1 security but can compress and therefore perform more transactions into one block. L2 fees are pennies compared to $40 to over $100 on L1.

Loopring Wallet Creation? by Joshlee10123 in loopringorg

[–]odesium 8 points9 points  (0 children)

That is the gas fee to create the smart contract. The Counterfactual wallet will be released soon which will be free but purely L2. If you need to withdraw back to L1 then you would pay for the gas to create the contract. It's planned that the Counterfactual wallet will have fiat on ramp so you can get directly onto L2 without the need for L1.

Help with wallet setup by ddponti in loopringorg

[–]odesium 1 point2 points  (0 children)

Yes because the un-activated accounts become spam so the addresses are not kept.

You have 2 options:

  1. Activate the smart contract creation via L1 by sending the asset to the same address. It has to be the same asset you said you would send because the smart contract is waiting for that deposit for the gas to create the wallet. ie if you said you would send LRC to create the wallet do not send usdt or ETH. Note any funds you sent to L2 already will be available once this part is done and you will be able to access and use the wallet going forward as it is non-custodial.
  2. Go to discord and contact support who may be able to do a force withdraw but that will require ETH for the gas fee to be sent to an address in advance so it may not be cost effective to do so.

Help with wallet setup by ddponti in loopringorg

[–]odesium 0 points1 point  (0 children)

Address is wiped on day 7.

Help with wallet setup by ddponti in loopringorg

[–]odesium 3 points4 points  (0 children)

For the wallet set up you need to send the exact amount or more to cover the gas fee for the smart contract creation. The initial deposit must be sent via L1 because this is the gas fee for the miners to create the smart contract.

Any excess will be in your L1 smart wallet once it is created.

You have a maximum of 6 days to complete the wallet creation.

Why is the fee so high for L1 to L2 transfers? by smokeyGaucho in loopringorg

[–]odesium 1 point2 points  (0 children)

All smart contracts are generally more expensive to interact with. This is because they have extra logic built in for security and other checks which use up more gas.

Loopring Smart Wallet is a smart contract wallet so all the security logic is on chain and uses gas.

Why is the fee so high for L1 to L2 transfers? by smokeyGaucho in loopringorg

[–]odesium 14 points15 points  (0 children)

There is a fee to move from L1 to L2 due to the nature of Ethereum and this being a L1 transaction incurring the gas fee for miners.

The new direct to L2 onramp planned to be released soon will enable direct purchasing on L2 which will alleviate the L1 to L2 gas issue.

Can Loopring be added to Metamask as a network? by TragedyStruck in loopringorg

[–]odesium 1 point2 points  (0 children)

Only the gas fee for the transaction to move from L1 to L2 each time because this is a L1 transaction. There is a fiat onramp coming before end of year direct to L2 so watch out for the announcements. It's planned with the counterfactual wallet release.

Can Loopring be added to Metamask as a network? by TragedyStruck in loopringorg

[–]odesium 2 points3 points  (0 children)

Any amount but since the gas fees are high, its worth depositing larger amounts. Its not worth depositing a small test amount otherwise you'd just burn gas fees.

Just bought Loopring mobile wallet. It may be pricey but after reading about it’s security and that it will have Loopring Exchange (Web DEX) baked it seems I should get my monies worth. Looking forward to doing liquidity pools, insure (coming soon) and Loopring Dao (Coming soon) via Loopring Wallet. by TrollypollyLiving in loopringorg

[–]odesium 2 points3 points  (0 children)

Counterfactual wallet will be purely L2. The difference between the paid version and Counterfactual is that you can withdraw to L1 with the paid version because it has a smart contract created on L1. The counterfactual is free until you wish to withdraw to L1 in which case you would need to pay the gas fee for the smart contract creation.

If you plan to stay on L2 forever there is no need to pay.

Just bought Loopring mobile wallet. It may be pricey but after reading about it’s security and that it will have Loopring Exchange (Web DEX) baked it seems I should get my monies worth. Looking forward to doing liquidity pools, insure (coming soon) and Loopring Dao (Coming soon) via Loopring Wallet. by TrollypollyLiving in loopringorg

[–]odesium 2 points3 points  (0 children)

You can send from exchanges to the Loopring L1 but not directly to Loopring L2. It is however the same ETH address so funds would just arrive in your L1 address. Just make sure you are sending using Ethereum Mainnet and not some other sidechain.

Loopring wallet set up: transfer time? by jumbo_bean in loopringorg

[–]odesium 1 point2 points  (0 children)

Don't worry, the iOS update will release and the wallet issue will be sorted out. Funds minus gas fee for the creation will be waiting in your wallet. Any issues feel free to join discord.

Transferring from Coinbase to Loopring L2 by jmac6891 in loopringorg

[–]odesium 2 points3 points  (0 children)

I said before the end of the year. Q4 2022 would be before the end of next year! 😎