[Press Release] Luyin Monthly Report (September 2020)

September was a busy month and we're doneRoad Printing Agreement 3.6Develop the code and officially launch a security audit. We have also begun preparations to upgrade the relay to support 3.6. Additionally, we are continuing to polish the wallet's features and UI, and plan to invite more users for closed beta over the next two weeks.

R & D

Road printing agreement

After four months of intense development and testing, we have completed the development of Road Printing Protocol 3.6 and have submitted it to an audit firm for a safety audit. Compared to Protocol 3.1, version 3.6 represents a huge leap forward in the usability, flexibility, and efficiency of the Luprinting Protocol. Luyin is Ethereum's first high-performance decentralized transaction protocol based on zkRollup. We still have a lot to learn, and we believe Protocol 3.6 will be very attractive to users. You can readwritingsLearn more about the features of the Road Printing Protocol 3.6.

A few weeks ago, we announced support for AMM (automated market maker) on Layer2. We are designing an AMM contract that allows anyone to become a liquidity provider on the Luprint Exchange. Although AMM trading itself is built on a protocol, setting AMM parameters and adding/removing liquidity from the pool is done bysmart contractprocessed, so that different types of AMM can be created using standard smart contracts.

We plan to deploy 3.6 on the Goerli testnet in November and release a beta version on the Ethereum mainnet in December.3.6.0We are submitting a pre-release version of the audit, and the auditor we chose isLeast Authority, because they have extensive experience and expertise in auditing zero-knowledge proof projects (such as Zcash), and have audited many blockchain projects, including Tezos, Ethereum 2.0 specification, MetaMask, and Cosmos. We've also launched Protocol 3.6.0'sBug bounty program(Ends November 30), we will give LRC rewards to contributors who discover bugs.

For more information on the Road Printing Agreement 3.6, you can watch the relatedintroduction video。

Luyin Exchange

Users:The number of registered users of the Luprinting Exchange surpassed 5,900, and the number of registrations reached 277 in a single day.

TVL (Total Locked Value):The value of assets on the Luprinting Exchange is currently around 22.5 million US dollars, reaching a high of 25 million US dollars this month.

Trading volume:Trading volume rebounded in September, with the highest daily transaction volume exceeding 1.61 million US dollars.

Luyin Exchange launched 11 trading pairs this month: TON/ETH, BAND/USDT, WBTC/USDC, ETH/WBTC, QCAD/USDT, UNI/USDT, ADX/USDT, NIOX/ETH, KAI/USDT, PLTC/USDT. Luyin Payments added 12 tokens: UMA, STAKE, OGN, HEX, ENTRP, WNXM, NIOX, ADX, QCAD, UNI, KAI, PLTC.

In addition to MetaMask, WalletConnect, and MEW wallets, now Luprint Exchange also supports useAuthereum wallet和Coinbase walletScan the QR code to log in. By logging in to Loopring.io, you can experience fast transactions and transfers at the second layer of Ethereum, with negligible gas fees.

Added support for Auether and Coinbase wallet logins this month

We're grateful to community member Federico Luzzi for creating Loopring Swap:https://swap.loopring.io/Users can use a simple exchange UI interface to experience Luyin's order-based decentralized exchange. The Loopring Swap open source code is:https://github.com/loopring/loopring-swap。

Loopring.io continues to host liquidity mining activities. Currently, it supports 4 trading pairs: ADX/USDT, QCAD/USDT, OGN/USDT, and NIOX/ETH. Among them, qCAD is a stablecoin pegged to the Canadian dollar launched by Canada Stablecorp. Everyone is welcome to actively place orders, and the 14,000 US dollar reward is waiting for you! We will distribute liquidity mining rewards to the winners' Luyin accounts around the 1st of every month.

Liquidity mining interface

In addition to HummingBot and VNPY, we provide an easier to use market making tool: Autonio's market making softwareNIOX Maker. Autonio is a decentralized autonomous platform focused on providing users with efficient algorithmic trading tools such as NIOX Maker, Smartdex, DAO, Terminal, and AI. Through NIOX Maker, users can use an intuitive user interface and use a faster, lower fee market making strategy without sacrificing asset safety to provide higher liquidity to the Luprint Exchange. Click to viewNIOX Maker operation video。

Also, inLuyin ExchangeEvery market order sold will receive a rebate of 8% of the order taker's handling fee. We have distributed the first batch of rebate rewards; from now on, they will be distributed around the 15th of every month.

What's exciting is that Luprint Exchange will soon be more than just an order-based exchange. It will also support AMM, AMM, and order book liquidity being shared.

Road print wallet

We optimized the wallet contract in two steps to support the creation of new wallets. The first step is to deploy uninitialized wallets in batches. When Ethereum gas costs are cheap, we can complete this operation ahead of time. The second step is that when users register, we will initialize each user's wallet to set the address, ENS, and other parameters. At this point, it is impossible to predict the size of the fuel bill.

In addition to reducing the cost of creating smart wallets, this change also allows users to select their preferred address from hundreds of uninitialized wallets. Here are a few examples:

0x642150e3f0f16bc9eaa06b7b7d1ae29720666666//score 0.58150x6666352f0422429a9cd9f51be3d86e7bb55553//0.58120x9f1d0a12807d33fc90822835d0ab768f049999// 0.57000x111115f870ca43dda95004f14e841c1192D1e1//0.56750x000000f133956896fc14dccbc85b0e9b48c8840//0.56700x88882b5a7ef61b0c3f5f5f0ae330cbd925eb5568//0.5668

Random addresses are free, but there is a fee for good addresses.

Although ENS is a good way to identify wallets, we believe that providing a good address is attractive to Chinese users and can help us get more users.

The Luprint wallet has just been upgraded and shared with the first batch of closed beta users for testing. Most pages in the new version of the wallet have a new design. Currently, the UI of the transaction module still needs to be optimized. During the National Day, we will complete the UI design of the transaction module and release another version as soon as possible.

New UI design for Road Print Wallet

relays

We've upgraded the relay API in Looping.io (v3.1) to address the API's issues with submitting or canceling orders:

• Order Submission: Please use a new oneSubmitorDERv3API to submit orders; oldsubmitOrder The API will soon be deprecated.

• Order Cancellation: CurrentcancelOrders The API has been modified, and now there are no cases where orders cannot be cancelled.

We are very thankfulLINQ.networkThe team helped us. They spent a lot of time testing our API and had in-depth conversations with us. Without their valuable advice, we wouldn't have been able to complete the upgrade in a short time.

operations

Activities and collaborations

Rails operated by the decentralized autonomous organization DXdaoIt has launched its second-tier payment application. The application integrates Road Printing's zkRollup technology and relay API, and can quickly transfer ETH and ERC20 tokens on the second layer of Ethereum, with negligible gas fees. In the future, Rails will integrate Road Printing Protocol 3.6 to provide users with more flexible transfer services, allowing two-way transfers between different accounts and across layers. DXdao is also optimistic about Luyin Protocol 3.6's two-tier AMM solution with high throughput and low processing fees, and looks forward to more cooperation with Luyin.

“Which Exchange Will the Next Hummingbot Version Support” hosted by the Hummingbot Discord CommunityvotedIt's over. The Luyin Exchange won first place with a high vote count of 2,340, leading the second place by more than 1,000 votes. Thank you very much to the community for supporting and contributing to Luyin!The next version of HummingbotThe Roadprint Exchange will be integrated, which means that the entry threshold for programmatic trading and providing liquidity will be greatly reduced, and more market makers and algorithmic traders will participate in the Luprinting ecosystem.

Luyin integrates the Oracle Band protocol to obtain LRC, ETH, BTC, and USDT prices (in RMB and US dollars). Users of the Luprint Exchange can obtain the most real-time and accurate market prices to avoid attacks by market manipulators.

DeFi Labs announced that ten of the world's leading blockchain teams, Curve, Aave, Synthetix, Balancer, Zapper, Zerion, Loopring, Bitpie, MyKey, and CoinGecko, have officially joined the Global DeFi Alliance as the second batch of members.

The Chinalink 2020 Hackathon has officially started. Luyin Technology has set up two awards worth 1,500 US dollars to motivate developers to provide better second-tier AMM solutions for Ethereum. If technicians are interested in second-tier AMM, they can watch Luprint's chief architect Brecht Devos'sintroduction video。

Luyin's two-tier payment solutions are also becoming more and more popular. xDai wrote an articletutorialsto guide users on how to use Luyin Pay to transfer STAKE tokens on the second tier. Also,Argentina POS SystemRoadprint payments have been integrated. In the future, Gitcoin will use Luyin's second-tier payment plan to distribute rewards.

Forum and AMA

Wang Dong, CEO of Luyin Technology, was invited to participate in a roundtable on the theme of the China DeFi Project Heroes Conference co-hosted by Chainwen to share zkRollup technology. “Comparative” conducted an exclusive interview with Wang Dong, the founder of the Luyin Agreement. Wang Dong discussed why Loopring became the first Chinese project to be listed on Coinbase. Please checkComparative interviewSpecific content.

Dr. Guo Xionghui, CTO of Luyin Technology, was invited to attend the Global Blockchain and Digital Finance Summit held in Hainan and participated in a roundtable forum on “Defi Applications and Value-Added Scenarios” to share Ethereum's second-tier expansion plans and future prospects for the DeFi ecosystem.

CTO Guo Xionghui was invited to attend the Global Blockchain and Digital Finance Summit

Guo Xionghui was also invited to participate in the “DeFi wave is surging and the popularity is unabated. Who will lead the rise and fall of DEX and CEX in the future?” hosted by Ear Finance Roundtable conversation. Guo Xionghui said that there is still a lot of room for LRC in the future. Check out the full conversationwritings。

Jay Zhou, COO of Luyin Technology, was invited to participate in an offline forum hosted by Cointelegraph Chinese to share a round table with NestFans, Huobi and other big names: in the DeFi era, decentralization is in full bloom. Jay also participated in the “Looking for the Next YFI/YFII” online round table hosted by Chain Catcher andAMA hosted by Crypto.com. Jay Zhou said that SWAP DEX has a very high slippage and many users use it because the AMM mechanism makes full use of idle funds. After the release of Luyin 3.6, AMM will also be supported, so that AMM can be implemented on Ethereum L2. The processing fee will be greatly reduced, and the speed can reach the level of seconds.

Luyin Technology's commercial director Matthew FineStone on YouTube andBanklessAn online live broadcast of zkRollup was shared here. The zkRollup introduction video is divided into two parts:Part 1和Part 2. Matthew was also invitedDeFi Slate和Arcane BearInterview to share Ethereum's layer-2 expansion plan.

LRC

Coinbase has announcedCoinbase.comSimultaneously print the LRC protocol token with Coinbase Pro, and open the LRC-USD trading pair. Luyin became the first blockchain project developed by a Chinese team led by a Chinese team to launch on Coinbase. Coinbase Custody, a custodian owned by Coinbase, has also added escrow support for the decentralized transaction protocol Loopring (LRC).

Additionally, Huobi Global's “Global Observation Zone” launched LRC (Loopring) and opened LRC/USDT, LRC/BTC, and LRC/ETH coin transactions. OKEx also officially launched LRC's leveraged trading, Yubibao and LRCUSDT perpetual contracts on the website, app, and API. Bibox DeFi Innovation Zone and BitMart also launched Loopring (LRC) to open LRC/USDT trading pairs.

Decentralized asset management protocol Set Protocol and DeFi real-time data analysis platform DefiPulse announced the launch of a purchasable DeFiPulse Index (DFP) on the Set Protocol asset management automation platform TokenSets. DFP consists of the top 10 most popular DeFi project tokens on Ethereum, including LRC.

The Luyin agreement LRC has successfully passed the MakerDAO community plan, and LRC holders can directly use LRC as collateral to DAI. The details of the LRC risk parameters are as follows: risk premium: 3%; debt limit: 3 million Dai; liquidation line: 175%. This means that LRC has more use value and application scenarios. Users who want to mortgage LRC to lend out DAI can refer toMortgage tutorial。

MakerDAO adds LRC as collateral for Dai

Ethereum is congested, and gas fees have reached a new high. Many well-known overseas media have recommended Luyin's second-tier expansion plan. Creating a Luyin account is quite cost-effective. These media include:

• The Daily Gwei

• EthHub Weekly

• Week In Ethereum

Ethereum second-tier accounts are now becoming more and more popular. You only need to sign up for a Luyin account, and you only need to consume 274K gas at one time, and you can make low-cost transactions and transfers permanently.

About the Road Printing Agreement

The Luprint Protocol is a high-throughput, secure zkRollup transaction and payment protocol built on Ethereum. Loopring.io is the first zkRollup exchange deployed on the Ethereum mainnet based on the Loopring Protocol 3.0. It's 100% unmanaged, and while guaranteeing Ethereum-level security, it's nearly a thousand times faster than Tier 1 DEX throughput.

For more updates on the Road Printing Agreement, visit our community account: Twitter:Twitter/loopringorgReddit:reddit.jp/r/loopringorgTelegram:t.me/loopringfans(Chinese) TikTok: loopring.liveWeibo:https://weibo.com/loopringfoundation

Source: Loopring