Loopring

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A blockchain research organization pioneering the future of finance. Loopring is building protocols, infrastructure, and user-facing DeFi products atop Ethereum, envisioning a digital economy that empowers its participants with full and guaranteed self-custody of their assets.

DeFi doesn't have to be a trade-off between security and performance. With this in mind, Loopring's Layer2 solutions work in synergy with Ethereum Layer1, enabling low-fee, high-speed, Ethereum-secured platforms for trustless trading, swapping, liquidity providing, and payment.

Ongoing projects led by Loopring:

Loopring Protocol: powered by zkRollups on Layer2, enables Ethereum to scale effectively without sacrificing Ethereum Layer1 guarantees
Loopring Layer2 Dex: An orderbook and automated market maker (AMM)-based non-custodial decentralized exchange (DEX) built atop Ethereum using the Loopring Protocol (v3).
Loopring Wallet: A mobile app for Android and iOS featuring an Ethereum Layer1 and Layer2 social recovery smart wallet.

founded 1 year ago

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communick@blockchained.world

Can someone tell me why the fees to transfer to L2 have been so crazy high the past few weeks? (alien.top)

submitted 11 months ago by Bigfirehydrant@alien.top to c/loopring@blockchained.world

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I transfer my L1 loops every week and have for a long time. But for the last few weeks, prob even over a month the cost to transfer to L2 has been more expensive than even the loops I’m trying to send.

Is this a result of activity or something and the volume is too high?

Not going to pretend to be smart enough about this but I’ve been doing this for a very long time and it’s never been this expensive to transfer to L2 for this long a period of time…

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[–] SpontiacB@alien.top 1 points 11 months ago (1 children)

Can you do that with USDC instead of ETH?

[–] barefoot_au@alien.top 1 points 11 months ago

It depends on the networks. using optimism > loopring you can't. But ethereum > polygon does support usdc/usdt.

This is because orbiter has to have pools on each chain, so if not enough volume probably not worth the work to have eth as well as usdc/usdc. As adoption continues I think this will be better supported.

Best to see what lowest tx fee on your cex for eth, then use orbiter.finance to give you a quote. You don't need to connect wallet to get quote on proposed tx.