Loopring announced that L2 Liquidity Mining is back

Loopring announced last Wednesday, August 18, through its Twitter account, that Loopring # L2 Liquidity Mining is back. The company indicated that the round would last 13 days, so it invited users to accumulate and earn without gas.

Image on Loopring’s Twitter post

“Get ready for Incentive Round 13 on the Loopring L2 AMM & Orderbook exchange, which starts at 00:00 UTC on August 19 and lasts for 13 days. We have some amazing projects that help incentivize the switch to Ethereum zkRollups, so if you haven’t leveled up at layer 2 yet, now is the time”, he said through an article posted on the Medium platform.

1. Order book: Liquidity Mining

The company indicated that the following trading pairs will support the extraction of liquidity from the order book:

Image taken from the Medium platform

In addition, he highlighted that:

• For USDC / USDT, the maximum margin is 0.1%; for UNI / ETH, the maximum spread is 0.5%; For BKT / USDT, the maximum margin is 1.5%.

• Maximum margin means that resting limit orders within that margin range are what is rewarded.

• Rewards will be distributed directly to LP Tier 2 accounts the day after campaigns end (Day 14).

• Other details follow the liquidity withdrawal rules from the Loopring v1 order book. Snapshots per hour, measured in order of depth, stiffness, and balance.

• While you can mine the order books manually, order book miners generally love to provide liquidity programmatically, so here is our API to do that, and here is Hummingbot, the maker of NIOX and other software from market making that connects to the Loopring Exchange.

• Note: Blocktanium will incentivize this BKT / USDT pair for 12 rounds (6 months). Each round has an average reward pool of 125,000 BKT. Therefore, you can plan to add liquidity for a longer time. Spread tightness may change per round.

2. L2 Trading Tournament

Similarly, the company shared the rewards for merchants:

Image taken from the Medium platform

In addition, he commented that:

• Loopring has launched merged group liquidity and order books, and updated trading volume calculation system. Now we calculate the trading volume as the sum of AMM and the trading volume of the order book.

• We reward the top 25 users with the most volumes (AMM + Orderbook) per pair.

• The actual size of the reward will increase based on the total reward mentioned but will keep the same function as before.

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