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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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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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U/petervancee - this is the answer. “Staking” does not mean all protocols are doing the same thing
Staking ETH is contributing to validating the chain, and getting rewarded.
Staking LRC is joining a pool that gets a % of protocol fees. The more fees generated (trading, NFTs, sending etc) the bigger the pool. So to answer your Q, it is going up because there are more fees being generated