Protocol

On Ethereum

After rounds of brainstorming and discussion, we’ve finalized a significant part of our new token economy, especially the fee model of protocol 2.0.

We have categorized order rings into two classes: peer-to-peer and third-party matching. We will apply different fee models to each class. A noticeable change in 2.0 is allowing users and wallets to use any ERC20 tokens to pay the matching fee. Besides that, we also made sure the fee model can be used to empower more business models for wallets and DEX frontend products. Our smart contract engineers, Freeman and Brecht, have implemented most of the core settlement logics and the new fee model.

We’ve researched and chosen a new way of calling external contracts whereby the Loopring Protocol smart contracts can choose to continue settling rings in the same transaction even when some external contracts throw exceptions. This new approach maximizes the ring settlement success probability and reduces ring miners’ gas consumption. Another implemented feature is the handling of the transfers of tokens that don’t fully comply with the ERC20 standard.

Freeman has a partial implementation of the on-chain order-book, and he will continue adding code to enable mix-matching of on-chain and off-chain orders.

On NEO

We realized a bug in the NEO node which caused failures in data synchronization. This has been taken care of and now LRC token holders can continue to claim their LRN token.

There will be an important rule change for the second LRN airdrop. We will make an announcement in about a week. Stay tuned.

DEX Backend

Relay 1.0

We’ve implemented caching for several APIs in relay 1.0 to reduce the number of hits to our database. The caching code has been tested and will be launched in production soon.

Our developers have also added APIs to enable promoting our Wallex Apps for profit-sharing. This interface will initially be used by the new Loopr-iOS app (and apps based on the same code base) soon upon launch.

20% of all future matching fees from users acquired by your promotion code will be rewarded to your address unlocked in the app.

This revenue sharing is guaranteed by our open-source wallet app and the Loopring Protocol.

Lightcone Relay

We’ve finished the overall system design for Lightcone, and have implemented some core logic regarding actor ad-hoc deployment and configuration which enables relay ops to add/remove/config market pairs without restarting any server. Over the months to come, we’ll focus on coding and testing the new relay.

Below is the overall system architecture on top of Akka cluster. More technical details and design documents will be available once Lightcone becomes open source. A high-quality image is available for our ecosystem partners (but we will not be available to provide further details due to our limited availability.