In the past month, Loopring has launched two phases of AMM liquidity mining activities. The total lock-up value on the second floor is nearly 200 million U.S. dollars. Among them, the annualized income of many AMM fund pools exceeds 100%.

Loopring’s third phase of L2 liquidity mining is about to start

In addition, the trading volume of Loopring’s second floor AMM DEX broke a new high, with a 24-hour trading volume exceeding US$20 million. Among them, LRC/ETH’s 24-hour trading volume accounted for the highest proportion, reaching 12.77 million US dollars.

路印第三期L2流动性挖矿即将启动

To learn more about Loopring Wallet and Loopring Exchange, you can access it on Dune. All data is parsed on the blockchain, decentralized, provided by a third party, and cannot be faked.

Loopring’s third phase mining rewards

We will start the third phase of mining activities at 8 am Beijing time on February 11th. The specific activities are as follows:

1. AMM liquidity mining and trading ranking competition

We will support the liquidity mining and trading ranking competitions of the following AMM fund pools. The ETH/USDT fund pool is officially rewarded by Loopring, and the rest is sponsored by the relevant token issuer.

路印第三期L2流动性挖矿即将启动

2. Order-based liquidity mining

We will continue to conduct order book liquidity mining for USDC/USDT and DAI/USDT trading pairs, and provide 30,000 LRC rewards for each trading pair.

路印第三期L2流动性挖矿即将启动

Activity Rules

1. AMM liquidity mining

The third phase of liquid mining will start at 8 am on February 11, 2021, and the activity will last for 14 days.

We take random snapshots of the fund pool several times a day, and calculate the amount of rewards each LP deserves based on the average of all snapshot balances in the period.

The mining rewards of the third phase will be directly distributed to the LP through the second-tier account within three days after the end of the period.

For fund pools that support liquidity mining, participating in the gold to provide liquidity will automatically start mining without any other operations.

Mining does not involve lock-up, but the LP tokens obtained from deposits must be stored in the Loopring second-tier account. If you withdraw LP tokens to the Ethereum mainnet, you cannot get mining rewards. Users can also transfer part or all of the LP tokens to other accounts on the second floor, but the mining rewards will also be partly or wholly owned by another account.

2. AMM Trading Ranking Competition

路印第三期L2流动性挖矿即将启动

We rank the transaction volume, and the top 25 users will be rewarded.

For Loopring’s official capital pool (ETH⇄USDT), we will issue rewards based on the chart above. For other non-official fund pools, we will issue awards in gradients based on the sponsorship provided by the project party.

3. Order-based liquidity mining

The maximum spread is 0.1%

Other rules follow Loopring’s 3.1 order book liquidity mining rules, and snapshots are taken every hour to calculate rewards.

Author/ Translator: Tae Kon Jung