INSTRUCTIONS CONCERNING THE LRC SUBMISSION AND SUBMISSION OF CLAIMS
LRC is a Loopring token (more about the project - HERE ). DEX owners can set protocol fees (percentage of the volume flowing through all loop-based DEXs) as security for the service level guarantee. More information about LRC mechanics here .
Currently stake of about 10% of the total supply of the LRC.
Below we will repeat how to submit stakes and explain how to withdraw (pick up and withdraw). We recommend that you read the entire article before submitting or withdrawing, as there is some timely information at the end.
89 days ago they announced the LRC betting agreement so that owners can start claiming protocol fees. Because the minimum betting period is 90 days, the earliest bettors will soon be able to collect rewards for the protocol fees. Since there is not yet an interface that would allow staking or submitting claims, all stakeholders so far have focused on direct interaction with a smart contract. Similarly, for now, the claim will have to be made by interacting with a smart contract. We expect the Staking user interface to be available from May 1. The LRC purchase agreement applies here: https://etherscan.io/address/stakingpool.lrctoken.eth
How to get LRC for free - see the movie (premiere 22/04/2020 at 18:00)
PUBLISH0X platform - HERE
HOW TO PLAY
Below we use etherscan.io to demonstrate how you can bet on LRC. You can also use MyEtherWallet or MyCrypto.
Step # 1
Visit the LRC contract : etherscan.io/address/lrctoken.eth#writeContract and click "" Connect to Web3 "to unlock the wallet using MetaMask or another Web3 provider.
Step # 2
Complete the approve function form 0xF4662bB1C4831fD411a95b8050B3A5998d8A4A5b as the _spender value and the amount of LRC you want to bet (with 18 additional '0') - in the example below, 12.345 LRC was set. Then click " Write " to sign and send the transaction. Wait for 1 confirmation. This allows the contract to use this LRC. ( Note: This address, which you call the publisher, is the LRC betting agreement itself, i.e. the one you are about to go to in step 3).
Step # 3
Visit the LRC Staking agreement : etherscan.io/address/stakingpool.lrctoken.eth#writeContract and re-unlock the same wallet as in step 1 if necessary. ( Note: * this is a different contract than in step 1 *)
Step # 4
Fill out the rate function form with the same amount that was used in step # 2, click " Write " to send the next transaction, and then wait for 1 confirmation. This is an action.
Step # 5
That's all. To verify that you did it correctly, visit etherscan.io/address/stakingpool.lrctoken.eth#readContract and fill out the getUserStaking function form from the Ethereum address and click " Query ". You will see the total LRC you have set, the waiting time (seconds) before you can collect the LRC prize, the waiting time (seconds) before you can withdraw your LRC bid, and the current prize. Remember that token amounts have an additional 18 zeros after.
HOW TO WITHDRAW (CLAIM AND WITHDRAWAL)
First, a note about the difference between admission and withdrawal, and a few other comments about LRC rates.
- Filing claims relates to participation in fees for the protocol (awards) and automatically adds them to the amount set.
- The payout simply withdraws the amount wagered from the contract and returns to the wallet. It follows that to receive a prize, you must first apply for it.
Remember that stakeholders receive LRC prizes proportional to their accumulated points, with the points being the product of the number of LRC bets and the average betting period for each chip. The earlier and more LRC bets the higher the rewards.
Claim for fees for the Loopring protocol = LRC rate * duration of the rate.
A side effect of this "average age of tokens" concept is that receiving the prize means you are adding a fresh batch of LRC to your rate, and this declared amount is now 0 years old. Therefore, your average age will always be a little younger when you receive the rewards (clearly the older the better).
For example, if today is Day 90 and you originally wagered 10,000 LRC, and suppose the rewards you are applying for today are 10,000 LRC, your new total age for the LRC will be 45 days. Your new total LRC amount will be 20,000 and will accumulate points immediately. You will be able to apply and / or withdraw again after 45 days have passed (since the token's age must be longer than 90 days to apply / or withdraw).
Note: Every time a user receives his reward for placing, all user points will be removed (reset) to maximize the user's return, i.e. increase the maximum amount. Conversely, when you make a withdrawal, it can be a full or partial amount and does not reset the token's age.
Well. Return to instructions for claim or withdrawal.
How to apply
Step # 0
Before withdrawing, you can check the number of rewards available for the staking address by visiting the staking LRC contract : etherscan.io/address/stakingpool.lrctoken.eth#readContract and fill in the getUserStaking function form from the Ethereum address and click " Query ". You will see the total LRC you have set, the waiting time (seconds) to be able to collect the LRC prize (if 0, you are ready), the waiting time (seconds) before you can withdraw the LRC (if 0, you are ready) and your current prize . Remember that coin amounts have an additional 18 "0" after entering the amount.
Step # 1
Visit the LRC Staking agreement : etherscan.io/address/stakingpool.lrctoken.eth#writeContract and click " Connect to Web3 " to unlock the same wallet address you originally set up using MetaMask or another Web3 provider.
Step # 2
Click " Write " the claim subfunction . Confirm the transaction in the wallet and wait for 1 confirmation.
Note: If your address can actually request (has an average token age greater than 90 days), this step will be allowed. If your LRC age is less than 90 days, you will get an error when trying to sign the transaction: this is normal, you are just too early.
Step # 3
That's all. As in step # 0 above, you can re-check your new status by visiting etherscan.io/address/stakingpool.lrctoken.eth#readContract and filling out the getUserStaking function form with the Ethereum address and click "Query". You will see the new total LRC amount you have set (original plus what you have just requested).
How to withdraw
Step # 0
You can repeat step 0 from above to see your current state of affairs (amount, time, etc.).
Step # 1
Visit the LRC Staking agreement : etherscan.io/address/stakingpool.lrctoken.eth#writeContract and click " Connect to Web3 " to unlock the same wallet address that you originally set up using MetaMask or another Web3 provider.
Step # 2
Enter the amount you want to withdraw in the Withdraw form (full amount or any partial amount), remembering to add 18 '0' to the number. Click " Write " to confirm the transaction and wait for 1 confirmation. If you can't withdraw yet, you'll see an error before signing the transaction.
Step # 3
That's all. You can check your Ethereum address to see the amount of LRC received from the betting agreement. Or check step # 0 again to see what's left in the betting agreement.
ADDITIONAL PRIZES FROM THE FOUNDATION ON 1 MAY
As mentioned last week in the February February update to reward people for betting (especially before raising fees for the protocol with increased volume), the Loopring Foundation will deposit LRC 2 million as a reward for all participants around May 1. It is basically a thank you to the stakers and a way to win prizes in these first days of looping the network.
Of course, they will deposit the LRC in the Loopring Fee Vault protocol , a contract to which protocol fees go and for which LRC practitioners are rewarded. You can always track the LRC balance in the vault address. There are currently around 697,000 LRC there.
The most important things you should know about Loopring and LRC
What is Loopring (LRC)?
Loopring (LRC) is an ERC-20 token built on the Ethereum block chain. It is a cryptocurrency used mainly to pay miners in a decentralized Loopring exchange protocol.
The entire Loopring project aims to create an ecosystem in which traders can exchange cryptocurrency in a decentralized manner. The loop, however, is not an exchange in itself, but a protocol and an automated execution system that allows others to build decentralized exchange (DEX) running on their protocol.
The great thing about Loopring is that it is blockchain independent. This means that the protocol can be implemented on any block chain that has intelligent contracting capabilities. Because all DEX loops will be built on the same principles, they can all work together to ensure smoothness. In addition, even centralized exchanges can participate in providing liquidity to decentralized exchanges based on the loop protocol. LRC plays an important role in Loopring's reputation system because DEX owners are required to put LRC in order to build reputation and ensure economic security for their users. If the owner of DEX reacts badly to his users, he will lose part of his wagered LRC.
Ring-miners make sure that orders are filled in loop DEXs because they are designed to match orders for traders. When Górnik finishes the exchange, he receives compensation at the LRC. In addition, LRC is also used as gas for the implementation of smart contracts, and with the launch of Loopring 3.0 a reduction is charged on each transaction fee (currently 10%), and the equivalent amount of this fee is burned by the Loopring smart contract, which leads to a reduction in supply.
How many LoRring LRC tokens are available?
According to data from Loopring, there are currently 1 095 798.773 LRC tokens in circulation in circulation with a total maximum supply of 1.375 billion. However, please note that since the upgrade to Loopring 3.0 this number will change constantly.
This is because the team has now implemented a recording mechanism in which all commercial fees are charged and used to burn LRC from the Loopring Development Foundation cartridges. This leads to a smaller supply of LRC that will be in circulation.
In addition, LRC must support many processes for exchange operators, such as creating exchanges, assigning downtime, and registering other tokens. Each process has its own burning rate, which determines the amount of LRC to burn. The required LRC for these functions is usually sent to the Loopring smart contract to be burned, removing the LRC from circulation. Thanks to this type of combustion mechanism, we can expect a steady decline in supply over a longer period of time, making each chip a little more valuable.
Is Loopring LRC an ERC-20 or NEO token?
Loopring (LRC) is an ERC-20 token that is issued on the Ethereum blockchain. It was launched via ICO in August 2017. However, since Loopring is agnostic for blockchain, it has already been implemented in other block chains, such as NEO and QTUM . The implementation of these block chains gave rise to LRN and LRQ, respectively.
The loop was implemented on the NEO blockchain in 2018 as a NEP-5 token called LRN and was dropped to all LRC owners. However, LRN had many problems with providing the NEO DEX solution. Loopring founder Daniel Wan stated that it is difficult to implement DEX Loopring on the NEO blockchain due to the costs of implementing the protocol and accounting for ring orders that are too high to be practical and would not ensure low fees for this Loopring set to be achieved. It should be noted that the team plan for the release of the loop chain, in which the LRN will be the payment, utility and management token for this new block chain.
What can you use the Loopring LRC token for?
- Bet LRC to earn some protocol fees
- LRC is needed for decentralized exchange owners to gain reputation and keep DEX open.
- LRC can be used to lower protocol fees.
Loop (LRC) is required for various Loopring functions. First, in Loopring 3.0 anyone can place an LRC and earn some 70% of the protocol fees for all the various decentralized exchanges based on the Loopring protocol. Each token must be wagered for at least 90 days before it is mature enough to monetize protocol fees. The fees for the protocol are borne by the owners of the exchange, not the traders themselves. Instead, traders will pay a fee dictated by the specific DEX they are trading on.
Secondly, exchange owners need LRC to gain reputation in the Loopring reputation system. This is to increase security for traders using any DEX Loopring. A minimum amount of LRC is also required to open the exchange, and the LRC must remain wagered so that the DEX owner can maintain an active exchange. If the owner becomes dishonest in his application, his rate will be removed, which will encourage him to provide a fair service.
Finally, LRC can also be used to lower protocol fees that exchange owners must pay. The owner can further reduce their fees, encouraging traders and market makers to put LRC in a custom contract for them.
Who is behind the Loopring cryptocurrency project?
Loopring was founded by Daniel Wang. Prior to Loopring, Wang was a co-founder of Yunrang Technology, Google Tech Lead, a co-founder of the Coinport Exchange and senior engineering director at DJ.com. Wang has an extensive history, thanks to which Loopring's whole vision becomes reality thanks to the experience gained in his previous positions.
CMO Loopring is Jay Zhou, who previously worked in the Risk and Compliance department and Ernst & Young. In addition, Zhou has experience in the cross-border payment industry after work in the risk operations sector at PayPal. Former operating director of Loopring is Johnston Chen, who is also a CIO at 3NOD, founder of WeDEX and an expert in products in the financial industry. Chen remains on board as a team adviser. Other important members are Brecht Devons (chief architect), Steve SUO (CTO), Hoss MA (Cheif Scientist) and Matthew Finestone (director of business development).
Some notable Loopring team advisers include Da Hongei (founder of NEO and ONT), GUO Yuhang (China Blockchain Application Research Center) and Li Xuefend (CTO at Zhongan Technology).
The entire Loopring project is managed by the Loopring Foundation, which is a non-profit organization based in China.
What is the Loopring product?
The Loopring product is a decentralized exchange protocol that they have created. This open protocol allows each user to come and build their own decentralized exchange without having to code everything by themselves.
An interesting thing about Loopring is that it is agnostic for blockchain. This means that it can actually be built on any block chain that has the ability to perform intelligent contracts and is not associated with any single project. In addition, all built decentralized Loopring exchanges can communicate with each other and share liquidity.
This creates an exchange system that becomes more efficient when more decentralized exchanges are built as liquidity increases. Central exchanges can even share liquidity with decentralized exchanges loops via a protocol.
In addition, another thing about the protocol Loopring has created is that users will not have to deposit their cryptocurrencies in an external wallet to participate and trade on decentralized exchanges. Instead, all transactions are made directly from the user's wallet on the network, which gives complete peace of mind that users always control their cryptocurrency.
Can you bet Loopring?
Yes, you can really bet on Loopring. Users can now bet on LRC since Loopring released version 3.0. When the user focuses on the loop, he allows himself to earn some of the protocol fees from all decentralized exchanges that are paid by exchange owners when transactions take place. Up to 70% of this fee is charged and is shared between the stackers who bet on LRC. This is known as the global stakeout type because it is visible throughout the entire protocol.
In addition, Loopring 3.0 has established a new reputation system that forces decentralized exchange owners to bet a certain amount of LRC to increase their reputation and maintain exchanges. This type of stakeout is known as local stakeout and is a strong incentive for owners not to cheat their users because they will lose some of their LRC shares if they behave dishonestly.
Finally, stock exchange owners can also bet on LRC to help lower the protocol fees that Loopring networks pay. The fees for the protocol are borne by the owners of the exchanges, not the traders themselves (they pay trade fees set by the owner of the DEX on which they trade). Stock exchange owners can also get help from their traders because they can provide smart contracts to allow users to bid on their DEX and lower protocol fees, which in turn should lower trading fees for traders.
How to bet on Loopring?
Since the beginning of 2020, the Loopring team has not provided a user-friendly interface. However, you can still bet on Loopring on an external service such as Etherscan.io. This is a rather complicated process, but you can use the above or below guide to help you at every step.
What exchanges or relays use Loopring technology?
At the end of February 2020, Loopring released its own fully-fledged decentralized exchange (DEX) called Loopring.io - weeks ahead of schedule!
As a result, traders can trade LCR against ETH, USDt and Dai in a decentralized and anonymous manner. Launching Loopring.io will definitely help to develop the entire DEX ecosystem, because it is a DEX that looks like every decentralized exchange at the highest level! The non-deposit exchange has currently trading pairs for LCR / ETH, ETH / DAI and ETH / USDt - but we can expect that many more pairs will be added in the coming months. The best thing about trading on this DEX is that trading fees are around $ 0.0025, which is MUCH cheaper than trading costs on a centralized exchange.
Dolomite.io is another great decentralized stock exchange. It is built on Loopring 2.0, but will soon be upgraded to Loopring 3.0. Dolomite is also another non-insulating exchange. In addition, Dolomite has an integrated portfolio manager on its platform, and even as a fiat USD gateway that users can use if they want to withdraw in USD.
There is also another list of strong contenders for decentralized exchanges and portfolios that are actively working on implementing the Loopring 3.0 protocol. they include;
- imToken - a portfolio of digital resources that allows you to use multiple chains.
- MyTokem - a comprehensive cryptographic platform providing portfolio, news, charts and data analysis.
- QBao - token exchange platform and payment settlement solution.
- Loois - DEX platform.
- DEXLAB - in the wallet, commercial terminal and messaging service.
- Tokenall - a multi-currency portfolio of digital assets.
- GTEX (Game Token Exchange) - a game resource market that allows players to exchange in-game resources.
- Uone - an online wallet that allows users to trade in a decentralized manner.
- CPOO - non-isolation portfolio, OTC transaction environment and asset management platform.
What is the throughput of Loopring transactions?
The loop can settle up to 2,025 transactions per second (as of the end of February 2020) By using Ethereum security and can process up to 16,400 transactions per second when chain data availability (OCDA) is turned off. However, when OCDA is turned off, security is significantly reduced. Compared to other blockchains, this is extremely high bandwidth and is required to create a useful decentralized trading environment.
The loop can process so many transactions after upgrading to Loopring 3.0, which removes most off-chain calculations and uses blockchain as data and a zero-knowledge verification layer. Instead, transactions are grouped into zkRollups that transfer exchange calculations beyond the block chain and only transfer the exchange 'roots' with relevant proofs of zero knowledge to the block chain. This type of scaling outside the chain also helps to significantly lower the trade price for users, in fact transactions can cost as little as 0.9 cents.
How secure is looping?
The loop is considered safe, considering that you'll never lose control of your cryptocurrencies. The fact that users do not have to give up taking care of private keys means that they can be absolutely sure that their tokens will not be stolen. Typically, centralized exchanges are often exposed to external attack vectors and hackers because they are the targets of large-scale theft. This is not the case with Loopring, because it is a completely decentralized protocol, and any DEX built on this protocol must comply with the standards it specifies.
In addition, Loopring also works with external security companies such as SECBIT to regularly check its protocol, and any patches are made to improve security. The introduction of Zero-Knowledge Proofs in Loopring 3.0 also adds an additional layer of security as users' privacy increases.
What is the latest Loopring protocol?
The latest protocol for Loopring is 3.0, which introduces scalability to the Loopring protocol. Loopring 3.0 uses Zero-Knowledge Proofs, known as zkSNARKs, which helps introduce protocol scalability. It allows DEX owners to be able to prove that users have accurate account balances and that transaction history is settled in a simple way that does not compromise security. In fact, introducing zero-knowledge evidence actually improves privacy.
Because the evidence of zero knowledge ensures that what is claimed is true and done, it allows data to be updated off the chain in Merkle trees, which means that transactions can be settled between users by updating the Merkle tree, without the need for a slow and expensive transfer token on the network. As a result, DEX communicate in the Ethereum chain less frequently and at extremely lower loads, because DEX will only have to send "proof" instead of all data stored in the Merkle tree.
Furthermore, the introduction of zero-knowledge evidence still does not require users to pass their tokens to exchange owners, which means they cannot be robbed by hackers or malicious "actors."
Where to buy and sell Loopring?
Loops can be bought at various cryptocurrency exchanges. To make a purchase using a traditional fiat, in most cases the user will have to deposit the fiat on the stock exchange and buy BTC or ETH. They can then use this BTC / ETH to go further and buy Loopring. Loops can be bought on the following exchanges; (USDt = Tether)
- Loopring.io - ETH, USDt, Dai
- Binance - BTC, ETH
- OkEx - USDt, BTC, ETH
- Gate.io - USDt, ETH, BTC
- Bitthumb - KRW (Fiat)
- Bitrue - BTC, ETH
- BitFinex - BTC, ETH, USD (Fiat)
- Bittrex - BTC
- Bitvavo - EUR (Fiat)
And now again for those who did not understand the beginning of the rules for starting LRC stakeout, i.e. Stakeout - LRC (detailed guide)
Introduction: ERC-20 and smart contracts
Recently, Publish0x users have been given a different route to generate and receive content creation / consumption rewards in the form of Loopring tokens (LRC). LRCs are ERC-20 tokens that have been developed to support blockchain transactions carried out on the Loopring protocol.
ERC-20 tokens operate on the Ethereum platform and must meet the following criteria:
- totalSupply - defines the total number of ERC-20 tokens created.
- balanceOf - the function is performed, it returns the number of tokens that the given address has on its account.
- approve - allows you to send a certain number of tokens from the total supply to your account.
- transferFrom - is a function that allows the user to send tokens to another user.
- approve - checks the transaction for the total supply of tokens.
- allowance - the function checks the user's account balance and cancels the transaction if there are not enough tokens.
You may ask why I give some more details about ERC-20 tokens, but it's important to know how they are generated. These tokens are created by smart contracts. But also smart contracts are used to carry out transactions using the ERC-20 token. The process in which we intend to place LRC is no different, it is just a series of intelligent contracts to send tokens to a specific stakeout address and place our tokens. Claims and retractions are also done under a smart contract, so by learning how this process works manually, you'll begin to understand how all interaction processes in the ETH network go.
Introduction: Stakeout LRC
Loopring successfully implemented version 3.0 of the protocol, and with it appeared the opportunity to bet tokens. Putting LRC tokens will help secure and maintain the network and is available in three different criteria, each with its own advantages:
- General stakeout, in which everyone can participate (which we will focus on later). This will lead to a refund of the amount wagered as part of 70% of the fees for the protocol of all exchanges built on Loopring.
- Stikking of security and reputation when the exchange owner puts LRC for economic security and reputation. This is a really cool feature, it has been implemented as a means of preventing the use of the Loopring protocol by the new / existing DEX without having a "horse in the race". If DEX treats funds badly or tries malicious activities, it gives Loopring a way to effectively sanction them financially because it has allocated funds to support the network.
- Rate reducing fee where traders or exchanges with high exchange rates can submit rates to reduce protocol fees for a specific exchange
As a Publish0x content creator, you can become an LRC investor, now is a great opportunity to look at how you can actively support this network and force your LRC tokens to work for you, earning some of the redistribution of fees.
Before we get into the parts of this guide, I will present some short prerequisites as well as a general warning. This process is currently quite awkward because there is no orderly front application, such as Tezos, for example . If you're going to try, make sure you take the time and maybe try first with a small amount before going inside. Also remember that this is not a financial advice, I will give this guide as a fun learning tool and by following the steps yourself so you don't have to if you don't want to. Anyway, enough admission, let's put LRC!
Step 1: Wallet
First of all, I assume that you have a Brave browser , that's why I'm saying we will be composing rates from the cryptographic wallet built into the Brave browser .
If you don't have Brave yet , this is the perfect choice for you as a reader / author Publish0x , because it offers a direct platform where you can publish in an easy and secure way and earn. Alternatively, if you use the meta mask, the process should work with it.
I will write a short separate guide on setting up and retiring from Publish0x to the integrated Brave wallet to avoid overloading, this one is detailed enough with too much additional information. If you are making a withdrawal to Mycrypto, MetaMask or other ETH addresses, here is a great guide to follow: https://www.publish0x.com/earning-that-crypto/how-to-withdraw-publish0x-payments-publish0xtutorials- xodkyw
Step 2: Stake out
The stakeout process for two main steps, we first need to send tokens to the address of the Loopring stakeout pool (below). Transactions of this address can be seen here: https://etherscan.io/address/stakingpool.lrctoken.eth . After sending, we will need to create another agreement to approve tokens. It should be noted here that the chip shuffling takes 90 days, so keep that in mind when you start the process. Also remember that you need some ETH on your account to facilitate transaction fees, not a lot, but a little.
Pool address : 0xF4662bB1C4831fD411a95b8050B3A5998d8A4A5b
Contract 1: Sending funds
- 1 - Go to etherscan.io/address/lrctoken.eth#writeContract This is where we will write the first contract.
- 2 - Scroll down the page and find " Connect to Web3 " which we will use to connect our wallet to be able to make transactions from this address
- 3 - You will receive a smaller separate window that will ask you to log into the wallet using Brave (a), and then confirm that you will be happy to connect etherscan.io to your wallet (b)
- 4 - In addition, you may receive a warning that etherscan.io is currently a beta version, remember that we use it at our own risk 😉
- 5 - Back on the contract page we can now decide what funds we will transfer to the pool of stakes:
- a) If everything went well, connecting the wallet, you'll see a green dot next to the " Write Contract" option
- b) First enter the pool address, remember that it is where we send funds that will leave your wallet. The address is 0xF4662bB1C4831fD411a95b8050B3A5998d8A4A5b , double and triple check that you entered the address correctly !
- c) Then we can answer how much we want to send (i.e. how much we intend to bet). This is entered as [Amount] combined with , or 18 zeros. So for me it was  + 
- 6 - After entering the data and re-checking, we can click " Write ", which will display another bold notification window, which will show the cost of ETH for sending a smart contract (remember that a transaction fee for blockchain is always charged for execution). Click Confirm to continue.
- 7 - Now we should wait before we move to the second contract, we must make sure that the first transaction has been completed. It only takes a few minutes. You can carefully check your Brave cryptographic wallet and make sure it shows " Approved "
Contract 2: Setting up funds
- 1 - After the first contract is completed, we need to go to etherscan.io/address/stakingpool.lrctoken.eth#writeContract here we are going to write a second contract (where we oblige tokens to stake out).
- 2 - As with the previous contract, we must start by connecting our wallet
- 3 - Now we have to scroll down to the " 6. stake " tab , and here we will enter the same amount that we sent to the pool [Amount] +  and click Write .
- 4 - Again, we will have a fee for doing this, click Confirm to continue
- 5 - Please note that when we return to the contract page, the " View your transaction " button becomes active, we click it and review the details below.
Step 3: Checking funds
As we saw in the previous step after writing the second contract, we were given the option to preview the transaction. Thanks to this you will get a nice, ordered summary of transaction information. This includes the block, time stamp, sending / receiving addresses, tokens and value at any given time, as well as the transaction fee.
However, we will also want to check the status of our offer, remember that I said it will take 90 days, so we need to know when it will be finalized, as well as the current status of the fund. We do this by querying (or reading) the contract, thus:
- 1- Go to etherscan.io/address/stakingpool.lrctoken.eth#readContract
- 2- Then in the " 1. getUserStaking " section:
- a) Enter your ETH address (where the tokens come from) and click " Query "
- b) Bid details will be provided. Important information is retreat. Waiting time (in seconds (7766883/60) / 60) / 24 = 89.89 days
Additional item for websites :
So I took a look at the Internet and was able to immediately find a neat little countdown widget that you can add to your web pages if you have one. I thought it was a good way to track the rate with a certain degree of accuracy without having to constantly check the contract.
- Go to timeanddate and enter the date / time of the start of the contract here: https://www.timeanddate.com/date/timeadd.html?type=add&ad=90 (you can use the time stamp from the transaction information as above).
- Then go to https://www.timeanddate.com/clocks/freecountdown.html and create your own widget.
- If you want to see it in action, go to, for example, the site and see the quick rate counter in the footer: https://mynima.github.io/
Step 4: Receiving / withdrawing a stake
Since my current bid has been frozen for ~ 90 days of sharing, I will go through the download / rollback stages quickly, but with a lot fewer photos, because I will not be able to fully perform these actions yet.
- 1 - First we need to go to the etherscan.io/address/stakingpool.lrctoken.eth#writeContract contract and, as always, connect our wallet
- 2 - Go to the " 2. claim " section and click Write .
- 3 - You will receive a bold notification indicating the amount of the transaction fee, and if your rate is ready, you will receive a reward.
- 4 - Finally, if you want to withdraw your funds, simply fill in the " 1. withdraw " field (remember 18 zeros) and click Write . As in the previous step, there will be a fee.
If everything went well, we can say Congratulations, you bet LRC! But I would also say that if you persevered in this process, big congratulations for successfully writing some basic smart contracts, it was a really cool process and I hope you enjoyed it.
Before we close the article, I will say that there is an additional bonus for people who put on the network in the first days. It is expected to be distributed around May 1, 2020, so keep your eyes open and if you plan to go, maybe now is a good opportunity. Remember that you block your funds for 90 days, so only block what you don't plan to use 😉