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24289712 No.24289712 [Reply] [Original]

I have a feeling Loopring is going to do a 3 or 4x in the near future.
Reasons:
>this shitshow today shows how quickly gas prices can go up and get out of control
>AMM releasing soon
>only dex that offers a true orderbook
>users in control of funds entire time
>zk Rollups make it cost way less for users
>also can have an account on loopring's layer 2 and send and receive funds on it

There is nothing else like this in crypto right now. If ETH prices continue to rise like this, the network will become crowded, and the cries for layer 2 solutions will come into effect again. I am already seeing people right now looking for solutions/abstaining from using uniswap til ETH fees come down a bit. The shit show in the past few hours is sure to get some people interested in uniswap alternatives. Towards the end of the summer run up, we saw many layer 2's gaining traction when ETH hit $450 with high gas fees...

Also, based off the pumps of XRP and XLM (2 dead shitcoins), it seems normies might be in the game again. LRC is already listed on coinbase, and has a very low price per coin(very attractive to normies). Not that this is needed, but it is an added bonus

>> No.24290427

>>24289712
I too am interested Anon, why arent more people talking about this project?

>> No.24290608

>>24290427
The tubers aren't hyping it as much as some of the other projects. Also, I think a lot of people are too lazy to learn how to use a layer 2. I think that will change though.

Another reason could be people checked it out, saw the lack of assets on it, and ditched it. It is hard to list assets without a decent amount of liquidity. AMM allows people to passively add liquidity to the protocol, which should increase TVL, and as a result, get some eyes on the project.

The increased liquidity will make it easy to list new assets too. UNIswap isn't very far along I don't think with the rollup version of their protocol, so the next month could be looprings chance to shine.

>> No.24291501

Had some tether. Picked some of loopring up and Matic when I realized how fucking high gas fees were.

>> No.24292459

Anyone know exact release date for AMM? I do admit I almost passed on this/wrote this off cause I thought they were using Band instead of chainlink. But then Loopring basically told everyone that Loopring was lying lol. That is when I knew they were based.

>> No.24292596

>>24292459
>But then Loopring basically told everyone that Loopring was lying
how the fuck does this even work

>> No.24292710

>>24289712
loopring is cool but they really need to get someone on their team who is capable of promoting their exchange, at the beginning the liquidity issues were understandable but by now it is in part their own fault. bootstrapping an exchange surely isn't easy but they're clearly doing it wrong.
Another issue with loopring is that others seem to prefer optimistic rollups for a couple of reasons, so their rollup implementations might turn out to be incompatible with the one every other defi app will be using. LRC is also pretty much an unneeded token but that doesn't mean anything and it could pump regardless.

>> No.24292801

>>24292459
>>24292596
I think he meant Band was lying:
https://cryptoslate.com/only-chainlink-loopring-clears-recent-band-protocol-integration-rumors/

Band basically lied and Loopring called them out on it.

>> No.24292920

>>24292710
AMM is the solution to liquidity issues. That is basically what has helped all these dexes launch. If you don't have AMM, you can't really get started at this point. They don't have AMM and still manage to not do so terribly.

zk rollups are a lot less expensive than optimistic rollups. Also to address your concerns about the token, it absolutely has value. The token holders who stake will earn 70% of all fees on loopring, and if you don't stake you still get bonuses off of trading fees.

>> No.24293110

>>24292920
okay i wasn't aware of the profit sharing, that's indeed something. the reduced fees are a joke, you need to hold a ton of LRC and trade a lot of money to actually save some money here, while at the same time you are totally exposed to the volatility of this token.

>zk vs optimistic
i haven't delved deep into it but remember that Hayden from uniswap once said while discussing methods for uniswap v3 that exiting on loopring can be more cumbersome compared to OVM based rollups, especially if there is a dispute. but i am not an expert, I just noticed that the captains of this industry tend to prefer these optimistic rollups currently.

>> No.24293142

Nobody will used centralized layer 2s, it'll be pretty much only optimistic rollups. Any noobs reading this has been warned.

>> No.24293531

>>24293142
You are the noob. zkrollups aren't centralized. It still uses ETH for security, just as in optimistic rollups. Centralized l2 chains are things like xDai, which just is a sidechain with a multisig.

Shows how little you know.

>>24293110
I'm not sure if that is necessarily true that everyone prefers optimistic rollups.
https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698

Vitalik seems to think things like zk are pretty important to get ETH the amount of scaling it needs.

>> No.24293554

>still buying chink coins in q4 2020

>> No.24293789

>>24293531
>https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698
that's for phase 1.5 of ETH2.0. at that stage i don't see how optimistic rollups would even work since there is no EVM available to rerun the rollup in the case of a dispute. maybe that makes zk sync a little bit more future proof, but we're talking ~2years here before this will become relevant.

>> No.24294423
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24294423

>>24293789
zk is more future proof, but it's also here now. I just really believe that this is going to pop off soon. Too many pressures.

>> No.24294466

>>24290427
I was really interested in loopring until they teamed up with BAND big yuck and yikes for me

>> No.24294883

>>24294466
checked.

Well Band isn't doing shit with them. Band announced this, and Loopring was somewhat mad about it and they basically told everyone Band is used for nothing of value, as they rely on Chainlink for all their actual meaningful data.

https://cryptoslate.com/only-chainlink-loopring-clears-recent-band-protocol-integration-rumors/

>> No.24294913

>>24290427
because using an L2 scaling solution, makes hard composition.
Like you have to wait for deposits and withdrawals to the zk rollup

>> No.24294942

>>24293531
i liked loopring in the past, but trying out their wallet release yesterday it seemed full of red flags
>chinese
>mobile app
>won't let you see a private key
>send money to this address blindly and hope everything works out
>weird liquidity mining program with stacking 2x modifiers
feel free to debunk my fud. i wanted to get in LRC but couldn't justify it after the above

>> No.24295028

I've got fucking 400,000 or so LRC this shit better do something. They need liquidity ASAP

>> No.24295055

>>24289712
I downloaded their wallet, I might use it to trade on high gas days. Just sucks that they dnt have a lot of pairs available.

>> No.24295058
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24295058

>Also, based off the pumps of XRP and XLM (2 dead shitcoins)
Lmao nice try fudder

>> No.24295280

>>24295058
Not fud. Truth.

>>24294942
Just don't use their wallet. The AMM and upcoming yield farming + high gas fees on L1, pushing users to L2 is going to send this one to the moon.

>> No.24295920

>>24289712
I'm an actual retard, but I cannot figure how to get the staking for this coin to work.

Anyone know?

>> No.24296000

>>24295920
I think there is an update coming in a couple of days so I'd wait until that happens. Also, I think the staking is locked, and they are going to have some yield farming rewards when AMM/passive liquidity comes out. I might not stake any now because I want to wait for that to come out.

>> No.24296042

>>24296000
Thanks for the advice, I was beginning to wonder if I had made a mistake with this coin when I bought it earlier this year.

>> No.24296203

>>24294883
Yes but why do ANYTHING with band? The only answer is they got bribed or bought bags and wanted to pump them either way its a bad look

>> No.24296339

>>24296203
Bad look, but anywhere it matters they are still using Chainlink.