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.
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 ...
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Loopring Protocol - Medium