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Not really savvy in the ongoing of these things I should probably learn more so here it goes.. how do these work? Interest % has risen slightly but not enough to warrant the big jump in earnings
this post was submitted on 10 Nov 2023
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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:
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Loopring Protocol: powered by zkRollups on Layer2, enables Ethereum to scale effectively without sacrificing Ethereum Layer1 guarantees
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Loopring Layer2 Dex: An orderbook and automated market maker (AMM)-based non-custodial decentralized exchange (DEX) built atop Ethereum using the Loopring Protocol (v3).
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Loopring Wallet: A mobile app for Android and iOS featuring an Ethereum Layer1 and Layer2 social recovery smart wallet.
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What i dont understand is that the ETH staking is like minimum 3% and LRC has such a low percentage? Since the LRC staking is such a low percentage, why doesn't it use protocal behind it to use ETH as a minimum, and then subtract the transfer fees automatically. Then you have LRC staking with a minimum almost equal to ETH while still supporting the LRC environment. But maybe I don't understand things properly.
because loopring staking reward is generated from their own ecosystem transaction fee. the more transactions the more staking reward
This.
The staking rewards are just a piece of the trading revenue.
Given the fees are a few pennies per transaction, we need high volume to increase rewards.
With the recent crypto rush, volume has increased and therefore so have our rewards.
You should jump on discord and post this on ama, it would be interesting question for the team.
Cian are also looking into doing something with lrc, nothing set in stone yet. I'm keen to see what they come up with, they are also asking to hear idea's from others about how this could proceed.