First YFI exchange w/ zk Rollups

“zk Rollups” are a recently added Ethereum feature that enables secure off-chain trading, off-chain transfers and off-chain voting. Discovered Loopring myself when Vitalik tweeted about them. Related Medium post: https://medium.com/matter-labs/optimistic-vs-zk-rollup-deep-dive-ea141e71e075

Hoping to join in the DeFi craze, Loopring added YFI & CRV trading: https://twitter.com/loopringorg/status/1296172938153074688?s=20

Why post here?

  1. Non-custodial, secure, permissionless, fast and private is the future of exchanges. zkRollups made that happen.
  2. Saves lots of money, vs on-chain gas fees trading YFI.
  3. No trading needed. You can use them to transfer YFI tokens between parties, saving gas.

The challenges:
C1. Loopring is brand new, and therefore a ghost town; the order books are bare.
C2. zk Rollups are a new thing, and users don’t understand them yet.

Disclosures: I do not own any LRC tokens or Loopring equity. Just trying to signal-boost good technology that saves money in gas costs (and just added a YFI integration).

9 Likes

This is the way. More will come, L2 DEX are the future. Although is true that there is not too much liquidity, I’ve used loopring (opened the account with low gas, so I’m lucky) and the fee-less exchanges and token transferences between accounts are amazing. Also I heard that in Q4 2020 people won’t need to create an account to trade in L2, hopefully that will bring in more liquidity.

2 Likes

Their wallet is supposedly coming out in a month or two, which should be huge for transferring tokens as well.

2 Likes

Transfers / payments are live & working now… UI still a bit clunky

2 Likes