Road Print Monthly Report (July 2020)

This month, we are mainly focusing on contract upgrades and audits of Luprint Smart Wallet 1.1, as well as the development and testing of Luprint Protocol 3.6. Currently, related research and development is progressing smoothly. Our work in August focused on protocol 3.6 security audits and interactive transformation of wallet apps.

R & D

Road printing agreement

We have completed the development and testing of the core code of the Road Printing Protocol 3.6. Currently, there are still some details that need to be improved and optimized. I believe we can prepare a security audit for a third party in about 1 to 2 weeks. At the same time, we have also begun a more formal internal audit process: CEO Wang Dong, CTO Guo Xionghui, and Chief Scientist Ma Chaohui lead five other engineers to form an eight-person audit team to conduct a detailed audit of each module code of the agreement. We expect the internal audit will take 4 to 6 weeks to complete. We have also contacted a number of external auditors to seek audit plans and quotations, and we will decide on one to cooperate in August.

Luyin Exchange

We have launched a referral rewards page. When the reward amount exceeds 5 US dollars, referral rewards are distributed regularly at the end of every month. If the monthly bonus amount does not reach 5 US dollars, it will be accumulated to the next month.

https://loopring.io/account/referral-rewards

The liquidity mining function tested on the LRC/USDT and ETH/USDT trading pairs had a good response and effectively promoted order depth, so we will continue to operate it as a characteristic feature of the exchange. After the first trial, we opened more trading pairs. Currently, everyone can perform liquidity mining on the four trading pairs LRC/USDT, USDT/DAI, renBTC/USDT, and bzRx/ETH. At the same time, we also released two open source liquidity mining robots:hummingbot和vnpyReady to use right out of the box, everyone is welcome to try out mining.

Liquidity mining interface

Road print wallet

After Solidified audited our first version of the wallet contract code last month, we thought the contract design could be greatly improved, so we immediately re-developed version 1.1. In the new version, we have mainly restructured the meta-transaction processing module and greatly simplified the design of the business logic module. Just today, Solidified also completed an audit of version 1.1. No security flaws were found in the new version. We've shared it on GitHubaudit report。

Our back-office and app engineers are also connecting to the new version of the contract. Once the connection is complete, it will be updated by upgrading the contract and app at the same time.

The wallet app added features such as LRC staking, liquidity mining, transaction flow display, WalletConnect, and small asset hiding. At the same time, we are focusing on sorting out some key UX interactions: such as creating a wallet, asset homepage, unifying the interaction between Ethereum transfers and second-tier account transfers, and the Guardian's approval process, etc. We hired a new designer this month. We believe this will speed up the development and iteration of the wallet app. We hope to bring everyone an impressive user experience when launched on a large scale.

At the beginning of the month, we invited the first batch of community seed users to try out the first version of our wallet app. We have collected some useful suggestions and feedback on some bugs, and we will absorb some good ideas into the new version.

Road print relay

We have relayed and launched an advanced ordering function, which can support taker-only and maker-only orders. This function is particularly important for market makers. Currently, it can be used through the market making API; next month, it will be connected to the front end and provided to ordinary users.

At the same time, we launched a parallel version of Merkle Tree. After the update, the performance was improved by almost 10 times, and it can be accelerated by increasing the number of CPU cores. Clustering will be carried out later to achieve horizontal expansion. Message Center coding is complete and is expected to be launched next month. The circuit service based on Google Cloud Services has been developed and can be launched after some adjustments. It is expected to improve circuit generation and certification performance while reducing costs.

operations

Luyin Technology and VBC, a Vietnamese blockchain community, have reached a cooperation to jointly establish the Luyin Vietnam Community. We will provide technical and financial support to the Vietnamese blockchain community and educate and popularize DeFi products for local users. We believe Vietnam will be the next important market for the development of cryptocurrency applications and blockchain technology.

The Luprint Pay UI rewards program has ended. Congratulations to the community's Federico and Nicole for receiving the rewards. Here's their product design:

Federico: Mainnet,https://loopring-pay-ui.netlify.app/; code,https://github.com/luzzif/loopring-pay；

Nicole: Mainnet,https://nicemarcela.github.io/loopring-pay/; code,https://github.com/nicemarcela/Loopring-Pay。

Luyin is happy to work withLinqCooperation was reached, and Linq built a Hummingbot branch and integrated the Luyin Exchange into Hummingbot. Linq is a digital asset liquidity provider dedicated toLuyin ExchangeProviding liquidity.

According to TokenInsight data, in the first half of 2020, the total trading volume of decentralized exchanges (DEX) exceeded 6 billion US dollars, an increase of 66% over the second quarter. DEX is an important component of decentralized finance (DeFi), and the sector has seen significant growth. Luyin Exchange ranked second in the DEX circuit in terms of transaction volume, second only to Uniswap. The number of registered users of the exchange exceeded 4,100, and the asset balance reached 12 million US dollars.

https://duneanalytics.com/loopring

Luyin Technology officially joined DAppBirds and was selected in the DeFi Potential List. DappBirds collaborates with DeFi developers, media, KOLs, and users to build a DeFi community. DappBirds is a high-quality global dApp platform. It has set up a DeFi Data data section to regularly push popular DeFi data to the industry. It is also currently the only platform in the industry that is independently developed and connected to decentralized wallet services and can be directly downloaded from global AppStores. Luyin Technology is also conducting DeFi research for the community. Up to now, 47 pieces of data have been collected.

Voting for the DeFi Star ranking hosted by MoonDEX and co-hosted by DappBirds and Conflux ended. Through the active participation of the community, Luyin Technology ranked in the top 10 and received the DeFi Star trophy from the sponsor.

Community activities

Luyin Technology was invited to participate in “Embracing the New Wave of Industry — 2020 Hangzhou Blockchain International Week” hosted by Babbitt. Wang Dong, founder of Luyin Technology, attended the 2020 Hangzhou Blockchain International Week Roundtable Forum and discussed with guests from Binance, DeBank, BiYuan Chain, and Whale Exchange projects about their views on future DeFi and CEFi, and how Luyin can empower DeFi. At the same time, Firebird Finance conducted a special interview with Wang Dong, founder of Luyin, to discuss the challenges and implementation direction of blockchain. Wang Dong was also invited to attend the “The Emergence of DeFi” seminar hosted by Babbitt to give a speech on the theme “Global DeFi Development Path and the Luyin Agreement”.

2020 Hangzhou Blockchain International Week Roundtable Forum

Luyin Technology and Chainlink held an offline smart contract sharing conference in Hangzhou to share Luyin's position, products, and plans for Agreement 3.6. In addition, Luyin Technology, Force Agreement, Biyuan Chain, and MYKEY also co-hosted the Hangzhou Blockchain Week “Ome Wine Cooking” themed reception to share Luyin's latest developments and plans with the participating media and fans.

Hangzhou Blockchain Week “Ome Wine Cooking” Themed Reception

Dr. Guo Xionghui, CTO of Luyin Technology, was invited to attend a blockchain industry technical seminar held in Shanghai to share Luyin's leading zero-knowledge proof (zkRollup) technology. Also attending the conference were MyKey, DeBank, and Cobo Treasury.

Shanghai Blockchain Industry Technology Seminar

presses

Wang Dong, founder of Luyin Technology, was invited to participate in the BLOCKCAST community telegram group live broadcast. For the AMA summary, check out the article:https://blogs.loopring.org/blockcast-community-ama. Wang Dong was also invited to participate in an exclusive interview on CoinDesk Chinese. He said that the number of DEX users is more important than the depth of transactions. Link to the CoinDesk interview in Chinese:https://mp.weixin.qq.com/s/5E3Ef6nCSlyc_r4R1H37uA。

Dr. Guo Xionghui of Luyin Technology was invited to participate in 3 live broadcasts: ZT Club Storm Live Stream DeFi series live; BeatTV AMA; and 2020 4th Industrial Revolution Cloud DevCon. Dr. Guo Xionghui shared how Luyin Technology is building a moat with a better Ethereum ecosystem and the application of zkRollup in the Luyin Protocol.

Jay of Luyin Technology was invited to participate in 3 live broadcasts: pTokens Community Live; BKEX AMA Live; and Live Interview with OKEx CEO Jay Hao. Jay shared his plans for the future of the only zkRollup DeX and DeFi right now.

Matthew FineStone, commercial director of Luyin Technology, was invited to participate in the POV Crypto live broadcast to share zero-knowledge proof technology, decentralized transactions, and Luprint payments.

Yu Hongyu, a senior architect of the Luyin Agreement, was also a guest on the MXC matcha community to share the theme “The DeFi boom continues, and see how Luyin overcomes obstacles”. Share link:https://weibo.com/ttarticle/p/show?id=2309404531654252167232。

LRC

On July 14, Luyin's one-month LRC/USDT and ETH/USDT pending order mining competition ended, and we used Loopring Pay to distribute rewards to the winners' Loopring Pay accounts (the cumulative reward amount will only be distributed if the cumulative reward amount exceeds 1 USDT). Luyin Exchange continues to host liquidity mining activities and is committed to motivating users to provide transaction depth and liquidity. For detailed rules, please check the article link:https://blogs.loopring.org/market-making-competition-cn。

Currently, Luyin's liquidity mining supports 4 trading pairs: RENBTC—USDT, BZRX-ETH, LRC-USDT, and USDT-DAI. We give a total of 10,000 USDT rewards.

Luyin Exchange added BTU/USDT, renBTC/USDT, BZRX/ETH, LEND/ETH, LEND/USDT, and GRID/ETH this month. New Luyin users are invited via the following link:https://loopring.io/invite/gridSign up to get a 10GRID reward, worth about $3, 50 places, on a first-come, first-served basis. Rewards will be distributed to the winning users' Loopring Pay accounts through Loopring Pay.

Binance added LRC for position-by-position leverage, and added per-position trading pairs: LRC/BTC and LRC/USDT, which supports 5x leveraged trading.

The Synthetix community included LRC in the sDeFi basket of assets. sDeFi is an index token.

Additionally, LRC was selected for the DAI collateral asset vote hosted by the MakerDAO community.

August 1, 2020 is Luyin's third birthday. Thank you to the community for your companionship and support over the past three years! We've specially recorded a 3rd anniversary video, which will be released soon. Please follow Luyin Technology's official Douyin account:loopring.live。

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)
TikTok: loopring.live
Weibo:https://weibo.com/loopringfoundation