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

Activating my L1 eth wallet (alien.top)

submitted 1 year ago by braminer@alien.top to c/loopring@blockchained.world

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Hey all

I want to send eth to my loopring L1 wallet to transfer it to the L2 wallet. I used the Gamestop wallet to transfer other eth to L2 before. Now that i want to activate my L1 eth wallet it would cost me $42, it also says something about contract upgrade awaiting guardian approval. What am i supposed to do to be able to send ETH to my L1 wallet?

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[–] barefoot_au@alien.top 1 points 1 year ago (1 children)

Hey 👋

So dealing with layer 1 eth will cost more than layer 2, got to wait for gas to be low. Currently 38, and upto 50 gwei. Best wait for 15 to 20 or lower.

https://etherscan.io/gastracker

When gas is low, it will cost a lot less to activate and once activated, you can upgrade contract. Contract upgrade doesn't need to occur right away.

Contract upgrade is so loopring can push advanced features in future, think security upgrades, maybe ens transfer, or other special wallet features.

Very 2.3.0 Contract upgrade is pay once, and enjoy upgrades for free forever after that.

*to get gas low, people often wait to sunday AM.

[–] braminer@alien.top 1 points 1 year ago

Thank you for the info, I'm going to try to do this sunday