We are pretty excited today to announce the addition of a new token for tipping on Publish0x - Loopring LRC.
This month there will be a 60% chance of receiving a tip in LRC (and 20% chance of DAI and 20% chance of BAT)
Here's our payout address, with the LRC there ready.
Why Loopring?
We have integrated Loopring as they look set to become a real leader in the "decentralized exchange" space, focused on ethereum tokens.
Integral to their DEX is their scaling solution for Ethereum, (which is LIVE today right now!) called zkRollups. In simple terms this allows "sidechain like" batch transactions to take place, still all connected to the ethereum blockchain, but "rolled up" and settled in huge batches fully onchain either daily or after every 10,000 rollup transactions - drastically reducing tx fees.
On other Ethereum DEXes the transaction fees can range from $0.02 to $0.20 per trade depending on the gas price on the ethereum network - you pay gas on EVERY SINGLE transaction. This squeezes smaller and medium sized traders, and is clunky and manual for larger traders alike too.
On Loopring Exchange the tx fee per trade is just $0.0053 (between 7-30x cheaper than other onchain DEXes)
This gives Loopring the ease, SPEED and feel of trading on a CentraliZed Exchange, but with you keeping FULL CONTROL of your private keys - your funds are always under your control (no needing to "request a withdrawal", no ability for the exchange to freeze your account or enforce KYC of "source of funds" etc)
The LRC token itself also has real utility and interesting tokenomics. We will cover this indepth this week but in short the LRC token is used as the foundation for all actions on the exchange. You can STAKE LRC tokens to receive trading fee discounts, but it goes much deeper than this in that if other exchanges/businesses wish to also run an exchange on the Loopring protocol even they need to stake (larger amounts of) LRC
Stats and Trading Volume?
Loopring only launched their V3 exchange with zkRollups on February 26th, but already they are seeing significant trading volumes and usage.
1,515 trading accounts opened, processing 742,184 transactions in just 6 weeks, with an average transaction fee averaged per trade/transaction of just $0.0053 (between 7-30x cheaper than other onchain DEXes)
Stats taken from Dune Analytics.
In a particularly high trading volume week at the end of March, Loopring.io processed 343,648 transactions. Now etherscan isn't tracking Loopring (yet) but it listed the top Dex being Uniswap as 33,433 transactions:
Loopring, so soon after it's launch already doing 10x the transaction volume of the current market leading dex... the future looks exciting :)
The Future?
We don't know, and we never give any trading or investment advice. But Loopring are not playing small games, and their zkRoll technology is highly significant in the ethereum and crypto space generally. Right now it is THE best example of an authentic, LIVE, in production scaling solution within the Ethereum space.
So significant even Vitalik is excited about Loopring:
Stay tuned here at Publish0x as over the coming month we will have some extra LRC giveaways even on top of tips :)
Where to Withdraw Your LRC from Publish0x?
You can withdraw your tokens to any ETH-ERC20 wallet that you have the keys to. Our recommended wallets are MyCrypto, Atomic Wallet, MEW, Metamask...
Where to Trade Loopring LRC?
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Loopring.io - ETH, USDt, Dai
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Binance - BTC, ETH
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OkEx - USDt, BTC, ETH
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Gate.io - USDt, ETH, BTC
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Bitthumb - KRW (Fiat)
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Bitrue - BTC, ETH
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BitFinex - BTC, ETH, USD (Fiat)
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Bittrex - BTC
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Bitvavo - EUR (Fiat)
Learn More About Loopring
Here are our top viewed Loopring Articles Already Published Across Publish0x:
- TOP Things You Should Know About Loopring and LRC
- A Comprehensive Overview of Loopring LRC
- Full List of Loopring (LRC) Partnerships and Integrations (2020)
- Vitalik: Ethereum With Loopring's Tech Will Be a Massive Success
Official Links:
