Guide: How to use the L2 Loopring Exchange

This article was first published on Loopring Protocol - Medium

Ethereum layer 2 scaling is needed now more than ever. Luckily, Loopring zkRollup is here to help you save gas, save time, and basically not get stuck on congested layer 1 — all while maintaining complete Ethereum self-custody security. Below is a walkthrough guide about Loopring Exchange, the layer 2 DEX built atop the Loopring zkRollup.

Photo by Chris Peeters from Pexels

First, two basic questions if you are interested.

What is Loopring Exchange?

Loopring Exchange is a non-custodial Ethereum exchange built on Loopring layer 2. It is an orderbook-based and AMM-based exchange that replicates the high-performance, low-cost trading experience of centralized exchanges. Users can trade speedily & cheaply (without worrying about Ethereum congestion or gas fees) while maintaining self-custody control of their assets. The exchange is built atop the open source Loopring protocol.

Loopring Exchange is more than a DEX, and also acts as a payment app. Users can send ETH and ERC20 token transfers to any Ethereum address instantly, cheaply, and securely on L2.

What is a zkRollup?

zkRollup is a type of layer 2 scaling solution on Ethereum, allowing much higher throughput and much lower costs, without sacrificing security. It does this by moving all of the heavy lifting (computations) off-chain, keeping the rules enforced and security in intact by using validity proofs: cryptographic proofs attesting to what happened off-chain. Because Ethereum verifies these proofs, and stores enough data to tell exactly which off-chain account owns what, zkRollups inherit the same non-custodial security as Ethereum, but can run much faster. For more in-depth technical info, read our Design Doc.

Table of Contents

  • How to onboard Loopring L2 on desktop
  • How to make instant transfers on Loopring
  • How to swap tokens gas-free
  • How to add liquidity to an L2 AMM pool
  • Finding the highest earning pools on Loopring
  • How to remove liquidity from an AMM pool
  • How to ...

To keep reading, please go to the original article at:
Loopring Protocol - Medium

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