Loopring Bi-Weekly Update — 08/18/2018

Our engineers made impressive progress on the design and implementation of both our protocol 2.0 and the new Lightcone relay system.

Protocol

On Ethereum

After rounds of brainstorming and discussion, we’ve finalized a significant part of our new token economy, especially the fee model of protocol 2.0.

We have categorized order rings into two classes: peer-to-peer and third-party matching. We will apply different fee models to each class. A noticeable change in 2.0 is allowing users and wallets to use any ERC20 tokens to pay the matching fee. Besides that, we also made sure the fee model can be used to empower more business models for wallets and DEX frontend products. Our smart contract engineers, Freeman and Brecht, have implemented most of the core settlement logics and the new fee model.

We’ve researched and chosen a new way of calling external contracts whereby the Loopring Protocol smart contracts can choose to continue settling rings in the same transaction even when some external contracts throw exceptions. This new approach maximizes the ring settlement success probability and reduces ring miners’ gas consumption. Another implemented feature is the handling of the transfers of tokens that don’t fully comply with the ERC20 standard.

Freeman has a partial implementation of the on-chain order-book, and he will continue adding code to enable mix-matching of on-chain and off-chain orders.

On NEO

We realized a bug in the NEO node which caused failures in data synchronization. This has been taken care of and now LRC token holders can continue to claim their LRN token.

There will be important rule change for the second LRN airdrop. We will make an announcement in about a week. Stay tuned.

DEX Backend

Relay 1.0

We’ve implemented caching for several APIs in relay 1.0 to reduce the number of hits to our database. The caching code has been tested and will be launched in production soon.

Our developers have also added APIs to enable promoting our Wallex Apps for profit-sharing. This interface will initially be used by the new Loopr-iOS app (and apps based on the same code base) soon upon launch.

20% of all future matching fees from users acquired by your promotion code will be rewarded to your address unlocked in the app.

This revenue sharing is guaranteed by our open source wallet app and the Loopring Protocol.

Lightcone Relay

We’ve finished the overall system design for Lightcone, and have implemented some core logic regarding actor ad-hoc deployment and configuration which enables relay ops to add/remove/config market pairs without restarting any server. Over the months to come, we’ll focus on coding and testing the new relay.

Below is the overall system architecture on top of Akka cluster. More technical details and design documents will be available once Lightcone becomes open source. A high-quality image is available for our ecosystem partners (but we will not be available to provide further details due to our limited availability.

Lightcone’s Actor System

Frontend & Product

RingTracker will be something like 0xtracker.com to display stats regarding orders, settlements, and relayers. We’ve made outstanding progress in the design and implementation of this RingTracker tool. It will be available soon at https://ringtracker.io.

H5Dex

H5Dex added functionality to invoke third-party wallets for transaction authorization. The feature is code-complete and will be launched as part of the v2 upgrade.

Loopr / Circulr / Loopring.js

We fixed minor bugs in Circulr and did some UX optimization according to community feedback. Now Circulr and Loopr also support more USDT-based trading pairs. We’ve also upgraded Loopring.js accordingly.

Apps

We have started internal testing the new Loopr-iOS app. Based on feedback from our early-bird testers, we have fixed some bugs and improved the user experience. At the same time, we have closed the 100th issue in the GitHub repo. We have redesigned the referral program where any users can create their referral codes and get rewards by referring the app to friends. We have also implemented the trade ratio settings in P2P trading where users can enable partial trades. This new feature will allow more users to participate in the trading with the same maker. Other features we want to highlight are:

  • Simplify the workflow to switch a wallet, switching tokens and filling out new order form;

  • New UI components, such as search bar, accessory type and more;

  • New pages, such as changing wallet name, P2P trading history and more;

  • Better support for different screen sizes;

  • Integrated latest Relay APIs;

  • Improved localizations.

In the weeks to come, we’ll provide customized iOS apps for two ecosystem wallet partners. Please give it a try once they are ready and help us promote these apps to all Ether/token holders.

We have started working on our native Android app. The first version of the app will be co-developed by Loopring and one of our ecosystem partners to match the functionalities that Loopr-iOS offers. The Android app will also be fully open sourced.

Operation & Marketing

  • Aug 3, 2018 — Our Founder Daniel hosted another AMA on Reddit;

  • Aug 4, 2018 — Loopring CMO Jay,Zhou shared Loopring technology and future crypto at Microsoft Research Centre in Beijing.

Jay at Microsoft Research Center, Beijing

  • Aug 9, 2018 — Loopring and Corl announced MoU to work on security token solutions and DEX integration;

  • Aug 10, 2018 — Loopring added trading pairs for 6 new ERC20 tokens: MT, HVN, QCH, CVH, WIC, Cyber.

  • Aug 10, 2018 — Loopring CMO Jay Zhou joined the “Next Generation Crypto Exchange”panel at Finwise Hong Kong.

  • Aug 13, 2018 — We published a Loopr instructional video.

  • Aug 15, 2018 — Our director of business development, Matthew Finestone, attended the Futurist Blockchain conference in Toronto.

Charles Hoskinson & Matthew

  • Aug 16, 2018 — Announced Dolomite, a DEX and Portfolio Management Tool built on Loopring Protocol;

  • Aug 16, 2018 — Loopring added USDT based trading pairs;

  • Aug 18, 2018 — COO Johnston Chen was invited to participate in the “Return of Values” blockchain event hosted by ChainFor Finance.

  • Aug 18, 2018 — MyToken published their new Android wallet app called Mwallet which has Loopring Protocol integrated natively.

  • Aug 18, 2018 — CMO Jay shared “Loopring 2.0 and Next DEX” at the 2nd Blockinvest Conference in HongKong.


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