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this post was submitted on 24 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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The Smart wallet on Android can connect to the Web page.
You can have an address that works on both.
I'm not sure where you got the impression that you couldn't but it is 100% incorrect.
Cheers!
I think it's because the other way around doesn't work, the wallet I use to log into the web page is not compatible with the android app.
But in that case the solution is clear, better to create an account on the android App - thanks a lot!
Ahhhh got it.
Yeah the Smart Wallet on Android is the way to go in my opinion. So many features and they're continuously improving it.
I'm not an expert by any means but I know how to find answers to anything I don't know about it so don't hesitate to ask here in your thread or their discord server.
Also, don't trust DM's. Like ever.
I only use the Android app, why? because I don't have a computer.
I really like the aop on android. Its simple and easy. My good friend uses the website. Good lcuk choicing between 2 good options 😉
by “website app” do you mean that you have a hot wallet like MetaMask.. and created a L2 account with it on loopring.io?
It is important to understand the different TYPES of wallets.
MM is what is referred to as a hot wallet as well as EOA (Externally Owned Account). You can take an EOA wallet, and create a L2 address with it
Now having the LSW on your mobile phone is a totally different wallet. There is no seed phrase (as with MM and EOA wallets). It is a smart contract actually, not just a wallet. And that smart contract has access to L2 and L1.
So it’s really up to you. If you have an EOA wallet, and you set up guardians for socia recovery.. but someone find your seed phrase. They can steal your wallet. With a LSW there is no seed phrase, but you must have properly set up guardians (or cloud backup) in order to recover it.
Personally I have the phone app. I have 2 hardware wallets I use for other stuff, but they do not have a L2 wallet set up
Hope that helps
That's exactly it man, thanks for defining it with the correct terms!
I have to hook up to this conversation because of questions…
I have made a Loopring L2 account on my desktop with chrome, using a wallet (GameStop). What I couldn’t figure out is why i can’t connect the Loopring iPhone app to this wallet? Does the iPhone app create a totally different L2 account? With different blockchain address and all?