Loopring Bi-Weekly Update — 01/06/2018 - Coming to qtum & More

  • Loopring Protocol had been deployed on Qtum mainnet.

    and NEO, soon.

    A week ago we rolled out our 2018 R&D roadmap. Based on the roadmap, we also had an engineering and a marketing kickoff meeting to bring everyone on the same page. We have strong confidence that Loopring’s core technologies will be ready for adoption during the year of 2018.

    We have confirmed that three engineers are coming onboard full-time. One of them is a senior engineer working on Alipay’s core database systems. He is now working on the protocol development and deployment on NEO. Another engineer is a backend architect from meituan.com, he is very solid in high performance system and experienced in developing exchange and match-engine. Last but not least, Chen Wong will join us as a mobile app developer to work on Loopr’s mobile version.


    Protocol Smart Contracts

    • We started testing Loopr wallet using real tokens. So far all look good to us, no bugs had been found. The number of pending transactions and rise of gas price is a problem sometime, but this is something we have to rely on the Ethereum team to solve. We have successfully mined rings using as low as 1Gwei as the gas price, but sometimes we had to raise gas price up to 30Gwei. You can take a look at those ring-miming transactions here. In the meanwhile, we are collecting addresses for whitelisting, once that’s done, we’ll see more trading activities triggered by community testers.
    We also deployed Loopring-Token-on-Qtum (LRQ) and the Loopring Protocol v1.0.0 on top of Qtum mainnet!
    • We are brainstorming how exactly LRQ should be distributed to LRC holders. We do not take related questions for now, but we will issue statement in the near future.
    • The current Qtum deployment uses exactly the same codebase as tjhe v1.0.0 version on Ethereum. Here are the addresses:
    * TokenRegistry:QSjBxNvcwyyWsN5wc8wD6DQ7YyVaS31ASo
    * RinghashRegistry:QddZU75Vuua2BNA7JvGKKYipR16ovE4zpf
    * TokenTransferDelegate:QV2aQmR4FppywaQAn6ArMBEa5UgQhCJqbk
    * LoopringProtocolImpl:QdT9We7mo2oaBFnmDXWDRAPHBuhSCaq9SA
    • We have also started to code v1.1 version for Ethereum/Qtum to incentivize wallets, and to minimize the raw size of ring transactions. V1.1 should be deployed in late Q1 or early Q2.


    We’ll only fix bugs and add small extra features to Loopr beta1 (available at https://loopring.io). This is because we will soon start developing beta2 from scratch, which is actively being designed. That said, during the last 2 week we have done the following on beta1:

    • Displaying warnings when an order’s size is larger than the current account balance or allowance.
    • Converting ETH to Ether Token automatically when appropriate (users still have the chance to review the transactions before signing).
    • A new relay API for returning the list of trading-pairs/markets the relay supports. When a user select a different relay from its wallet, the market list will change to reflect the change of relay’s support.
    • Customization of order’s time-to-live on the Settings page, so now you can submit a order that’s valid for as short as several seconds or as long as several months.
    • Optimization of the Cancel-All-Order operation.

    We made progress in the design of the next version, the wireframe is currently being reviewed.

    Beta2 Wireframe


    The biggest change in design is to apply consortium blockchain technology to current relay infrastructure. We need to make sure future miners can have access to as many orders as possible. Onchain and Hyperledger’s consortium blockchain technologies will be evaluated and explored in the coming months.

    And here is a list of things we’ve accomplished:

    • Mining support with multiple accounts (private keys).
    • Several bug fixes and optimizations.
    • A relay docker image has been built and published on hub.docker.com. For more details, please visit this link. We also created a docker-compose file for putting a relay, an Ethereum node, an IPFS node, and a MySql database instance together. These four pieces are required to start a “relay” as generally spoken.
    • A little more documentations on relay and ring-mining. We still think it’s too early for normal users to deploy and run a relay.


    This library is in a major refactoring. The goal is to make the integration with Loopring really easy for wallet developers without writing a lot of boilerplate code. The current plan is to extract 1) a core library to provide fundamental functionalities, and 2) a more advanced library to encapsulate business logics common to most wallets. In Loopr beta1, the sell and buy actions both have over 500 lines of JavaScript code and many of them are very similar; this is true for other operations including Transfer, Approve, Convert,and Cancel operation. This will not be the case in beta2 if we can use the new loopring.js library.

    Operation and Marketing

    • 12/22/2017,Our founder Danial Wang delivered a live podcast on The Future of Decentralized Exchanges to over 7000 Chinese Crypto-investors at Bihu Public Class.
    • 12/23/2017, Loopring’s “One Month Ten Cities” tour visited Chongqing ,the “Mountain City”, our COO Johnston Chen presented and communicated with Loopring Chongqing community face to face.
    • 12/24/2017, Loopring’s “One Month Ten Cities” tour came to Chengdu, “the Land of Abundance”. Our COO Johnston Chen shared Loopring’s 2018 R&D Roadmap, and talked with our city partners .
    • 12/24/2017, We initiated our “Wallet Tester Recruitment Scheme”. We received hundreds of applications and our operation team is processing these applications urgently. Our testing will start on Jan 6th 2018.
    • 12/26/2017,Our founder Danial Wang elaborated his perspectives of building a decentralized exchange ecosystem on the Loopring Protocol in his interview with jinse.com .
    • 12/28/2017, LRC was listed on DragonEx.io, and the two parties had also discussed adoption of the Loopring Protocol on DragonEx.
    • 12/302017, We announced the “Top Three Winners of the Loopring Sticker Design Contest”.
    • 12/30/2017, Our founder Danial Wang delivered a live podcast on YIYI Talks to China’s Blockchain enthusiasts. Daniel shared Loopring 2018 Dev Roadmap, and communicated with the community on many key issues.
    • 12/31/2017, We published Loopring 2018 Dev Roadmap, sharing our new year’s strategic plan: digging deeper in Ethereum, expanding to additional blockchains, scientific research, and community development.
    • 01/04/2018,ICO Crowd December edition published an article “Loopring: Trading Smarter”. ICO Crowd is the world’s first and foremost publication on Initial Coin Offerings (ICO), focusing on the rise of ICO’s and covering the developments in this disruptive and fast-paced area of Tokens, Assets, and Cryptocurrency.

    For more up-to-date information, join us on social media: ⭑ Twitter: https://twitter.com/loopring.org ⭑ Rocket Chat: https://loopring.rocket.chat ⭑ Telegram: https://t.me/loopringfans & https://t.me/loopringinternational

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