New Loopring’s Release Can Be a Remedy to High AMM Fees

New Loopring’s Release Can Be a Remedy to High AMM Fees

Decentralized exchange protocol Loopring (LRC) has published a monthly update on September 1, detailing development progress, including support for Automatic Market Makers in version 3.6.

  • The update will bring several new features, including orderbook-based and AMM-based trading on layer-2, and supporting settlements between regular orders and AMM pools directly
  • Loopring has completed an internal audit, external security auditing will begin in two weeks
  • Other changes include UI improvements and tweaks, and changes to maker and taker fees; maker fees now features a rebate of 8%, meaning they earn fees when their orders are filled by takers
  • Development on Loopring 3.6 is expected to finish by the end of September; AMM implementation will follow
  • AMMs have grown in popularity in recent months, but fees have become increasingly high as platforms like Uniswap and Curve Finance (CRV) become hotbeds for DeFi related transactions
  • Loopring’s zk Rollup technology enables transactions to occur with some of the lowest fees yet, at $0.0002 per trade
  • With AMM support, Loopring could become an attractive choice for traders as the DeFi market suffers from high gas fees
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