Loopring Bi-Weekly Update — 05/14/2018 – Loopring Protocol – Medium

   2018-05-13 00:05

Loopring Bi-Weekly Update — 05/14/2018

We’ve launched both loopr.io and loopring.io for users to access our Loopr wallet (beta3).



On Ethereum: We deployed protocol v1.5.1 on May 3rd. This version works incorporates several bug fixes and additional improvements:

  • LRC reward are paid from miner address instead of feeRecipient address, which resolves a potential security issue.
  • Fixed a non-security bug in the getLatestAuthorizedAddresses function in TokenTransferDelegate. Previously it returns addresses that have been successfully deauthorized.
  • Fixed a non-security bug in TokenRegistry.

We are refactoring unit tests by re-implementing our protocol simulator, a JavaScript mirroring implementation of the Loopring protocol. The goal is to 1) make unit tests are concise and easy to understand and maintain, and 2) turn any real ring-settlement transaction payload into new unit tests.

The simulator will be further optimized to become an independent tool. It can be used for DEX developers to understand better how the protocol works, and verify the intermediate and final results of any ring-settlement transactions.

We have also started designing the second major version of the Loopring Protocol which will have a whole new set of smart contracts and exciting new features.

On NEO: We have created tools for LRN airdrop based on RPC offered by the neo-cli NEO client. In a week or two, we will add a feature in Loopr to allow anyone to trigger LRN withdrawal from the LRN airdrop contract.


Our team have continued to improve and optimize the relay and added APIs to query order-book and trading history data.

We have successfully made a direct peer-to-peer (DP2P) trading — no third-part matching-as-a-service (relay service) involved. This feature will enable people to use our iOS wallet app to trade by scanning the QR code of other people’s order without any party’s order being shared to any intermediaries, including relays. This use case was what 0x was designed for, and you can tell how easy it is for Loopring Protocol can achieve the same functionality.

First Direct P2P Trading https://etherscan.io/tx/0x4564a25c962455fb7cd3a3412cf3108acfffde258cf975e33ce5bd190d29d6fe

More awesome things are yet to come — our developers are working on a distributed relay solution. In a few weeks, Loopring’s relay will be migrated to such a distributed architecture and become even more scalable and fault tolerant.


Web-based Wallet (code name Loopr): On May 3, we released Loopr beta3. To test the dec, Daniel placed two large orders to sell VITE and APR tokens at their private sale prices. These sell orders have been filled within minutes.

We have also configured loopring.io and loopr.io differently (one on AWS and one on Google Cloud) to make sure users from within China can access at least one of them.

Loopr beta3 has the following improvements:

  • Better labelling and more details for each transaction, which makes it much easier to identify which transactions are trading related.
  • Transactions can be re-broadcasted to Ethereum network after increasing gas price.
  • Additional annotation of gas cost, which tells users which gas was paid by the users and which gas was paid by ring-miners.
  • Enhanced UX design of unlocking wallets with mnemonic words.
  • Removal of duplicate entries from trading history.
  • Order-book now doesn’t display orders without sufficient balances.
  • Allowing users to specify when and how long their orders will become valid.

Web-based Wallet (code name Circulr): Circulr is a second web wallet that we offer. It will look more like centralized exchanges. We have completed the design and working on the functional implementation. Our goal is to launch Circulr in early August. Eventually, both Loopr and Circulr will be available for DEX developers to use as Loopring’s reference wallet/DEX implementations.

iOS Wallet App: We have made a lot of progress in iOS app, including:

  • Submitting and canceling orders;
  • Optimizing gas price for token transfers;
  • Using GethBigInt to handle integer overflow;
  • Supporting iOS’s “zoom” mode, which requires a lot of UI layout updates;
  • Displaying order-book in the market detail view;
  • Updating many UI components, such as circle chart, numeric keyboard, text field validation and so on.

Whitepaper Translations

We have received translations of our new whitepaper into the following languages:

We haven’t received any submission of Spanish translations, an we decide to extend the deadline for Spanish to June 1st.

The LRN/LRQ rewards will be sent to translators between July 5th and 15th.

Operation and Marketing

  • 05/01/2018: Loopring NEO Token (LRN) was listed at five crypto exchanges: Gate, Syex, Idax, Bitpaction, and Lcex.
  • 05/06/2018: Loopring COO Johnston Chen and our marketing team organized two meetups in Shengyang and Dalian, China. We updated our Chinese community the current status of our development in protocol, wallets, and relay.
  • 05/07/2018: Loopring CMO Jay Zhou joined the Blockchain Panel at Blockchain Economy Conference in Hong Kong.
  • 05/08/2018: Loopring was endorsed and added on BitKan’s exclusive watchlist.
  • 05/11/2018: Loopring CEO Daniel Wang host an AMA on Reddit.
  • 05/12/2018: Founder Daniel Wang joined the Blockchain Without Borders Summit 2018, in New York City, as a panelist.
Daniel at Blockchain Without Borders Summit 2018
  • 05/12/2018: Loopring marketing team hosted a meetup in Guiyang, China and exchanged the idea and thoughts with local crypto investors and community.
California, HongKong and China Loopring Community Meetups

Scheduled Meetups in Asia:

  • 05/19/2018, Hangzhou, China. RSVP here.
  • 05/20/2018, Shanghai, China: RSVP here.
  • 05/21/2018, 7pm at Yonsei University in Seoul, South Korea (Fully booked).
  • 05/23/2018, 7pm at Ocloudhotel, Seocho-gu, Seoul, South Korea.

Our founder Daniel Wang will attend Consensus 2018 next week in NYC. If you want to meet him and say hi, please drop him a line.

For more up-to-date information, join us on social media:
⭑ Twitter: twitter.com/loopringorg
⭑ Reddit: reddit.com/r/loopringorg
⭑ Telegram: t.me/loopring_en
⭑ Telegram: t.me/loopringfans (Chinese)