What would be great for a user than earning rewards for orderbook trading on decentralized exchanges. Loopring Exchange serves that purpose very well through its liquidity mining campaigns/programs that it runs on a regular basis.
After its successful campaigns previous month where liquidity miners got rewarded for placing resting limit orders on orderbooks, Loopring is back with three new liquidity mining campaigns.
This month users will get a chance to win $8000 in rewards by placing tight limit orders for three trading pairs, including Tether (USDT)/DAI Stablecoin, USD Coin (USDC)/USDT, and RigoBlock (GRG)/Ethereum (ETH).
The rewards will be proportional to each limit order spread and will be paid $11.11 hourly for 30 days. The reward for each pair would be as follows:
- $3000 for USDC/USDT at 0.1% spread
- $3000 for USDT/DAI at 0.2% spread
- $2000 for GRG/ETH at 2% spread
What is Loopring Exchange?
Loopring is an Ethereum-based open-source, non-custodial decentralized exchange that is powered by smart contracts and zero-knowledge proof circuits, also known as zkRollup.
It performs most off the Ethereum blockchain operations from matching orders to settling the trade.
The exchange is way ahead of its competitors for being highly scalable and resulting in low transaction fees and high throughput with 100% Ethereum level security guarantees.
How Does Campaign Work?
The campaign tracks all the orders on orderbook within a specific spread every hour. The tighter an order or liquidity is on the orderbook, the more it rewards.
How to Place Orders at Loopring Exchange?
To begin with a trading, one needs to set up an account with Loopring.io, deposit assets, place a limit order on a trading pair, and there you go.
Liquidity miners are provided with two options to place their limit orders on orderbooks: either manually or by taking the help of a trading bot. As trading bots keep analyzing the market on their own, they are a much better way to maximize the liquidity mining rewards.
