Loopring L2 DEX trading utilities

As some of us may have known, Loopring recently launched their Decentralized Exchange (DEX) and free Counterfactual (L2) Wallet based on Ethereum's L2 Zk-rollup solution, which offers scalability to Ethereum with a fraction of the fees, as well as direct fiat on-ramp. This post explores some of the things that you could do with the DEX and CF Wallet.

The Web-based DEX (loopring.io):

The simple interface gives you the ability to swap token pairs with extremely low gas fees (a few cents). It has the look and feel of Uniswap, but with some extra useful stuff, including the price history chart and the depth chart. Very intuitive!

Simple UI

If you head over to the Professional interface, this is where you'll find alot of other cool utilities. This has the look and feel of well-known Centralized Exchanges (CEX) like Coinbase Pro, Binance and Kucoin. And you will not be able to see this in other popular DEX's such as Uniswap or Pancakeswap. You'll be able to place limit buy and sell orders, look at the order books, explore the integrated Trading-view chart interface, look at trade history of yours and others, etc. A DEX with all the functionalities of other well-known CEX's, but with a fraction of trading fees?!

Their ambitious goal to take these CEX's head-on in the future is an interesting topic.

Professional UI

You're also able to stake your assets in Liquidity Pools and earn interests. Below are just some of the LP pairs that are available.

Liquidity Pools

The loopring explorer (explorer.loopring.io) gives you the ability to look at all the transactions of all the L2 addresses. There's also an NFT explorer for the NFT's that you've minted or traded.

explorer

The Counterfactual Wallet (Mobile app):

The app also has an intuitive interface. You'll be able to send and receive (direct fiat on-ramp or from another wallet) funds, explore the prices of supported tokens, swap token pairs with close-to-zero gas fees, stake your assets in Liquidity Pools to earn interest, social recovery of wallet (via assigned guardians), etc.

CF Wallet/Mobile App

Hope this was useful!