Starting next week, Loopring will shift its engineering focus from protocol development to relayer development to ensure the launch of our first v3 public beta in Q4, 2019.
We’ve also decided to minimize the effort on frontend/product development and focus on protocols and relayers. This means we will provide no further upgrade to our wallet products and will in the future provide only an open-sourced DEX web app. We believe our ecosystem partners (mainly DEXes and wallets) should have the capability to develop their own unique user-facing products and services to stay competitive.
Research & Development
Loopring Protocol v3
We added improvements to protocol 3 that further reduces the data we have to send on-chain for data availability. In the circuits, we first transform the data into a format that can be compressed more easily. The data can then be compressed and sent on-chain. Our smart contract decompresses the data to make sure all necessary data is still available. How much this reduces the gas usage depends on the data and this will be further improved by optimizing the off-chain compressor and the on-chain decompressor (which can be versioned and upgraded without any changes to the protocol) and by optimizing for realistic data patterns. We expect this feature to improve the throughput with data availability even further.
We also did some improvements to the maintenance mode to provide more flexibility for the exchange owner and fixed a potential problem with the automatic distribution of tokens when token transfer consumes an unreasonable amount of gas.
Lightcone Relayer v2
We have completed all modules for an MVP that supports Loopring 3.0 (beta1) and have identified several areas for improvements. We have also begun to refactor code and design a production-ready architecture. We expect the new architecture will be ready in about two weeks after several scheduled brainstorming sessions among our backend engineers and technical advisors.
We are grateful for having help from Chao Ma, the former head of engineering at Alipay International. His expertise and experience are remarkable and his advice and feedbacks to our relayer design are exceptional.
Products
We have finished the majority of UI layout and styling for our DEX web app. We’ll start to code interactions by using a mock API service in the coming weeks.
Operations & Marketing
- 06/09/2019 — LRC was made available on Infinito Wallet, a leading cryptocurrency wallet. LRC users can easily store and send their assets across their mobile and web apps with better speed and security.
- 06/10/2019 — Loopring BD Director, Matthew Finestone, attended Fintech Cadence annual formathon to help teach teams about blockchain, Loopring, with a focus on staking.
- 06/11/2019 — LRC was made available on Kyber Network, the leading on-chain liquidity protocol. LRC will be accessible through KyberSwap and other platforms that are tapping into their on-chain liquidity.
- 06/18/2019 — Loopring launched the first installment of ‘Learning Cryptography’, a series dedicated to learning the primitives that make cryptocurrencies possible! First, we discover finite fields.
- 06/19/2019 — BitKan Smart Trade listed LRC and now supports LRC/USDT, LRC/BTC, and LRC/ETH.
- 06/20/2019 — Loopring’s SNARK-based DEX highlighted in DeFi Weekly.
- 06/20/2019 — Dolomite shares its thoughts on why DEXs are often much faster than Centralized Exchanges
- 06/22/2019 — Loopring hosted a DeFi meetup with MakerDAO, Token Market, Neutrino, Qbao in Shanghai to discuss the future of decentralized finance, STOs, and DAOs.
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⭑ GitHub: https://github.com/Loopring
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