Road Print Monthly Report (May 2020)
The Luprint Exchange has matched more than 1 million transactions; we will launch the Layer-2 Fast Transfer feature based on the LoPrint Protocol next week, which we callRoad stamp payment(Loopring Pay); Also, we will soon invite the community to test the Loopring Wallet App.
R & D
Road printing agreement
At the beginning of this month, we released version 3.5 of the Road Printing Protocol. You can go throughRelated BlogsLearn some details about 3.5. At the end of the month, we also improved the agreement to allow user accounts to be distributed more evenly in the Merkel tree. This optimization will make relay fragmentation more efficient and will be of great help in further improving relay throughput. At the same time, we've also added a feature to allow a third party to help users create a trading account in 3.5, so if you transfer money to the other party through Luyin Pay, you can first help the other party create a payee account and then make a Luyin payment transfer when they don't have a Luyin account.
Luyin 3.5 is the midpoint on our way to a larger goal. This larger goal is Road Print 4.0. Regarding the positioning and characteristics of 4.0, we will be disclosing them one after another in the second half of this year. The preliminary design has now been completed, and we are conducting internal discussions and feedback on the design documentation. Our engineers are also prototyping the 4.0 contract.
We got itSolidifiedThe security audit report, and based on the feedback in the report, the Luyin Smart Wallet contract was madeNumerous improvements and optimizations. Based on this, we have officially released version 1.0 of the smart wallet contract code.
Luyin Exchange
We have improved the way Luprint Exchange manages user transaction keys. Now you use the LuPrint Exchange and don't have any passwords. Your Ethereum signature is your password. After this improvement, Luyin Exchange's trading experience is superior to many centralized exchanges.
Loopring.io added 5 new trading pairs this month, namelyKEEP/ USDT、USDC/USDT、DXD/ETH、AUC/ETH, andRPL/ETH. We will also gradually adjust the rules and pace of coin listing in the future.
Another road printTransaction dataIt was also officially included in CoinMarketCap, the world's largest digital currency data platform.
https://coinmarketcap.com/exchanges/loopring-exchange
Road print wallet
After the security audit, our latest version of the wallet app has been adapted to the latest smart contract code. All features have already been tested on the Goerli network. We are currently making every effort to advance the deployment on the Ethereum mainnet, which is one step away from the main network launch. Once the main network is online, we will do our best to test the wallet's various features with real money internally, and invite community users to participate in the app testing as soon as possible.
Road print relay
Luyin Relay has completed support for the Layer 2 fast payment (transfer) function. This feature is natively supported by the LoPrint Protocol, but we haven't prioritized it before. However, at present, the Ethereum network is getting more and more congested, and we plan to launch this feature as soon as possible to allow Luprint users to quickly transfer money between users at almost zero cost. We will first add this transfer function to the Luprint Exchange, and later we will also integrate this function into the app.
As a result, starting next week, Luyin will no longer only be a high-performance transaction agreement, but also an efficient payment agreement.
Currently, Ethereum is in great need of this feature, because stablecoin (especially USDT) transfers consume the most Ethereum resources and keep transfer fees high.
https://twitter.com/VitalikButerin/status/1260172228282527744?s=20
We believe Luprint Transactions and Luprint Payments will be the killer apps of Luprint Wallet. Unlike other wallets, our users aren't limited by Ethereum's congestion and high fees.
The Road Print Relay is also testing the off-chain withdrawal function. Once online, users can withdraw money from the exchange without initiating an Ethereum transaction. Not only do relays not have to wait for 12 confirmations, but the processing fee for users is also much lower. There was a great improvement in both cost and time.
Our engineers also optimized the server configuration, further reducing costs by approximately 30%. We are also optimizing the relay code, hoping to migrate some services to more cost-effective cloud computing platforms.
operations
Data statistics
Since the launch of the Luprinting Exchange, it has completed more than 1 million transactions.
https://duneanalytics.com/loopring
We paid a total of around 50 ETH for this million transactions. Based on the average price of 200 US dollars in ether, the actual cost of each transaction is currently 0.01 US dollars. It currently has the lowest cost among all decentralized exchanges. But we are a hundred times closer to the minimum cost, and we need more users and transaction volume.
To celebrate this small milestone, werewardsAll traders with the 1,000,000th transaction in the same block have a total of 10,000 LRC. Of these, the pending and eating orders of the 1,000,000th transaction receive 50% of the total reward, or 5,000 LRC. In the end, the number of transactions in the block for the 1,000th exchange was 128.CongratsUsers with exchange account IDs 1693 and 32 each received 2,500 LRC rewards, and the remaining 127 transactions shared an additional 5,000 LRC.
Prizes will be distributed during the first week of June. Also, the Luprint Exchange completed the upgrade on May 14. All users need to reset their passwords again, reminding everyone to complete the password reset by May 31 and wait for the LRC reward.
Research company Formal VerificationAn in-depth analysis of road printing was carried outand shared the results in their “In The Network” series. The analysis is very comprehensive, covering ZKRollup data, exchange statistics, LRC staking, etc.
https://twitter.com/_LewisHarland_/status/1265330884582014976?s=20
presses
The Ethereum network was always very congested in May. With Ethereum throughput being limited, V said on Twitter that there are currently only two solutions: Rollup and Sharding, and highly endorses the ZKRollup expansion plan that has already been deployed on the main network. Additionally, a number of opinion leaders in the Ethereum community also praised the technical advancement and user experience of the Luprint Exchange.
Ethereum founder Vitalik once again pushes the name Luyin
Vitalik further claims that Ethereum has actually expanded its capacity through Luprint and other upcoming Rollup technology solutions.
https://twitter.com/VitalikButerin/status/1263446283483844614?s=20
There are two overseas community big V's this monthDeFi DadwithCrypto OwenMade a few really greatLoopring.ioUse video. These videos will be a great reference for users who have never used DEX before but want to try them out. Everyone is welcome to click and watch! The Luyin Foundation also really encourages this kind of spontaneous community behavior and is willing to reward it.
How to Trade with a DEX and Beat High Gas Prices on Ethereum Using Loopring
We've provided DeFi Dad with a special invitation code “DAFIDAD” if you're atLoopring.ioIf you register using this invitation code, you will automatically enjoy VIP4 rights for one year, including the lowest handling fee settings on the Luprint Exchange. DeFi Dad doesn't derive any benefit from recommending users.
[We also thank Crypto Owen in particular. He wrote oneLuyin Exchange Getting Started Guide.]
Mr. Wang Dong, founder of Luyin Technology, accepted the North American podcast at the beginning of this monthEpicenter interview(English), shared the benefits of the launch of Luyin 3.0 and the application prospects of zkRollup. Epicenter is one of the best technical podcasts in the blockchain space.
https://epicenter.tv/episodes/340
Afterwards, Mr. Wang Dong was also invited to participate in the event hosted by Milin FinanceBlockchain2140 Cloud Summit DeFi ForumA round-table discussion was also held on “How DeFi will break the game and move towards an open ecosystem.” Wang Dong said, “By solving the five problems of security, performance, cost, user experience, and cross-chain assets, DEX can completely replace centralized exchanges.”
At the beginning of the month, Luyin also participated in the DeFi Discussion 10,000 online conference hosted by Dystopialabs. Zhou Jie, CMO of Luyin Technology, was invited to attend and share the strengths and prospects of Luyin ZKRollup in the 3.12 Black Swan network situation. Zhou Jie said:”Layer 2 zkRollup DEX will be the leader on the DEX circuit. The Luprint Exchange is 1000 times faster than Layer 1 DEX, and the transaction cost is 1/800 of Layer 1 DEX.”
Dr. Guo Xionghui, CTO of Luyin Technology, and distributed capital partner Huang Lingbo livestreamed on the theme “tBTC sought after by Silicon Valley's top VCs” to discuss tBTC's generation mechanism and smart wallet circuit with promising capital.
CovalentWe spoke with Luprint's chief architect Brecht Devos. Brecht shared the design concept of the Luprint Protocol and further explained how zkRollup can also expand other applications of Ethereum. This is a very technical video interview, so if you want to know more details about zkRollup, check it out.
You can also post it via Ganesh, founder of CoventThis set of tweetsCheck out some of the highlights from this interview.
We did a questionnaire on Twitter. 63% of users think the first users of the Luprint Exchange probably came from other decentralized exchanges and DeFi user groups rather than centralized exchanges. However, we believe that once our smart wallet goes live, this situation is likely to reverse.
https://twitter.com/finestonematt/status/1262825041814847492?s=20
Matthew Finestone, commercial director of Luyin Technology, participatedEthereal Virtual SummitThey also shared the zkRollup DEX expansion plan and the latest developments on the Luprint Exchange.
https://twitter.com/DeFi_Dad/status/1258844867192483841?s=20
In the middle of the monthDeFi TorontoAt the online conference, Matthew Finestone further shared Luyin's trading technology and exchange.
This month we first launched the Luyin Knowledgebase section and published our first work on Douyin —A brief history of wallets.We will continue to update video content (mainly smart wallets and DeFi) to let Xiaobai users understand blockchain knowledge in an easy-to-understand manner. Two episodes have been broadcast so far. You can add Luyin's official Douyin account:loopring.live, easily enter the blockchain world with Luyin!
We are very happy and congratulate DXdao on the successful crowdfunding. DXdao also successfully launched its official website through consensusdxdao.eth.link. Luyin has been a staunch supporter of DXdao since its inception, and has become one of the most vocal voters, and is still one of the largest voting rights holders.
Upcoming events
At 4 p.m. on June 1, Wang Dong, founder of Luyin Technology, will be invited by the 499 community to chat live with Binance, OKEx and other leaders on the TokenClub platform about current industry trends and prospects. We will reward up to 20,000 USD in equivalent tokens to new users who meet the requirements. For event details, please visit Luyin's official Weibo:Road printing agreement。
On June 2 at 7 p.m., Luyin and Nest will have an AMA on Zoom. The topics will revolve around DeFi, oracles, and decentralized transactions.
For more updates on the Road Printing Agreement, please visit our community account:
Twitter:Twitter/loopringorg
Reddit:reddit.jp/r/loopringorg
Telegram:t.me/loopringfans(Chinese)
Weibo:https://weibo.com/loopringfoundation
