HomeCoinsPieDAO DEFI Small Cap (DEFI+S)Announcing Incentivized Liquidity Mining on Loopring’s L2 DEX | by Will Brealey...

Announcing Incentivized Liquidity Mining on Loopring’s L2 DEX | by Will Brealey | PieDAO | Oct, 2020

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Will Brealey

Update from the bakery:

You can now liquidity mine our DeFi indices and governance token DOUGH on Loopring.io. We’re incentivizing all three pairs, so get involved today.

The incentives will go live approximately eight hours after this post.

After a landslide poll in the community discord all three of our tokens are paired 50/50 with ETH: DeFi+L/ ETH, DeFi+S/ ETH, and DOUGH/ ETH.

Loopring.io is a game-changing non-custodial L2 DEX.

Once traders have moved their funds onto the L2 they can trade with zero fees and a fully scalable order book experience. The DEX operates off-chain, settling balances to the main Ethereum chain using zkRollups when tarders leave the ecosystem.

Learn more:

DeFi+L is the latest release from PieDAO containing the largest market cap DeFi juggernauts: COMP, AAVE, UNI, LINK, MKR, SNX and YFI.

DeFi+S is our small cap DeFi index, containing some of the newer DeFi projects with incredible potential: BAL, LRC, UMA, REN, MLN, PNT.

DOUGH is the DAO’s governance token, useful for much more than just voting.

Loopring.io is a high-performance L2 decentralized exchange.

L2 markets have sometimes suffered from low liquidity, a chicken — egg problem that prevents new users from getting involved. DeFi+L and DeFi+S are uniquely positioned to provide value on Loopring’s DEX, concentrating liquidity and allowing users to trade DeFi tokens efficiently.

The DAO has allocated 6000 DOUGH to incentivize the liquidity pools, so head over to loopring.io to get involved. Rewards will run for 30 days, and you can keep track of all of Loopring.io’s liquidity campaigns here.

Unlike AMM’s such as Uniswap or Balancer where providing liquidity is passive, Loopring.io’s liquidity providers are currently rewarded for actively trading as market makers and adding to the order book. Rewards are generated from hourly snapshots of the order book.

As an added bonus if you’re order is filled you will also earn rewards known as marker rebates.

This mining design will change with the 3.6 update expected later this year, which will allow investors to choose between an order book or AMM system.

To effectively provide liquidity you will need a trading bot. You can either plug directly into the exchange API, or use one of the recommended tools: Hummingbot connector, vnpy framework, and NIOX maker.

Thanks to Loopring being a L2 DEX orders and cancellations are done at no cost and do not need gas.

Loopring.io is one of the first truly scalable non-custodial exchange solutions, giving users a CEX order book trading experience without risking their funds.

We’re happy to be working together and excited to see the platform continue to grow.

Interested in learning more? Come and say hi in our community Discord channel.

The PieDAO is a decentralized organization dedicated to bringing market accessibility and economic empowerment to anyone with an internet connection through Pie Protocol. Anybody in the public community may support these efforts by completing bounties, making feature requests, or proposing new Pies. DOUGH token holders are the DAO’s decision-makers, governing which proposals are accepted. If you want to know more about PieDAO:

PieDAO on Aragon

PieDAO website

Discord

PieDAO Forum

Official Documentation

Github



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