Protocol

The smart contracts of protocol 2.0 are about 90% complete in terms of development and core functionalities.

The most essential components of our new token economic model (fee model) is nearing completion, and only a small part remains unimplemented.

Now, in one Loopring settlement transaction, multiple orders from the same address are allowed.

We also implemented the feature to enable the purchased token (tokenB) to be transferred to another address other than the order’s owning address.

We have also been improving our test cases. With the simulation of various scenarios in the transaction as well as a variety of failure conditions, the test coverage is now close to 100%.

Besides that, we split the protocol simulation JavaScript code from the protocol2 codebase into a separate project — protocol2-js. Using this new codebase will make the subsequent development of a protocol simulator tool more convenient.

It is very likely that we will begin deploying 2.0 to Ethereum for internal testing in October and get ready for independent security audits.

DEX Backend

Relay 1.0

We solved issues that caused incorrect nonce for new addresses and fixed a bug that made some user’s transaction data missing. We also added a new feature to allow users to add any ERC20 tokens into their asset list.

Our engineers have added multiple APIs for the RingTracker tool. These APIs will provide Loopring Protocol data querying and browsing functionalities. As of now, these APIs rely on the codebase of Relay 1.0, but we will soon move them to a separate project.

Lightcone Relay (2.0)

The lightcone relay has completed the design of its core business logic and the definition of many data structures. We also finished the dependency injection using Google Guice for Akka actors. We are now working on the integration with Ethereum nodes, especially the block and transaction tracing functionalities to continuously and proactively monitor Ethereum data changes.

Overall, the development of the lightcone relay is still very smooth, but due to the high complexity of the system, it is slightly behind our original plan.

Frontend & Product

Apps

We partnered with Up Blockchain, a Hong Kong company, to jointly develop a noncustodial Ethereum wallet called Up Wallet. This wallet is based on our open-sourced Loopr-iOS project and is now available for download. This wallet has a fully native implementation of a Loopring DEX.

Up Wallet’s next plan is to be a fully compliant, securities token trading and management platform. We have also customized a similar wallet for a Shenzhen-based startup called vivwallet, which will also be launched soon.