BEL Listed on Layer 2 AMM DEX Loopring and Launches BEL Liquidity Mining & Swap Tournament

We are pleased to announce that BEL will be listed on Loopring, an AMM DEX & payment protocol based on zkSync on Etheruem, on Jan 25th. Liquidity mining on BEL-ETH pair will be launched at 8 am (UTC+8) the same day. This round of liquidity mining will last for 14 days, and the reward will be 10,000 BEL in total. At the same time, there will also be AMM Swap Tournament for BEL-ETH pair, the total reward will be 2,500 LRC.

Loopring’s AMM liquidity mining is meant to encourage the Ethereum community (and beyond) to adopt zkRollup layer-2 scalability as soon as possible to avoid congestion on Ethereum layer-1. At the same time, by gathering more liquidity on Loopring’s L2, Loopring will provide a better user experience for Loopring Exchange and Wallet.

We believe in the future and prospect of zkRollup layer-2 and are more than happy to work together with Loopring to make our contribution to the Ethereum ecosystem. There will be more future cooperations on global marketing and community events etc.

Rules

  • This round starts at 00:00 UTC on January 25, 2021, and lasts for 14 days.
  • Random snapshots of the relevant AMM pools will be taken several times per day to calculate the size of reward each LP earns based on the average of all snapshot balances in the round.
  • Rewards will be directly distributed to LP’s layer-2 accounts within three days of the end of the round.
  • Providing liquidity is how you mine. You can automatically start mining without any other user action.
  • Mining does not involve locking up your funds, but the LP tokens must stay in your Loopring layer-2 account. If you withdraw LP tokens to the Ethereum mainnet, you cannot get mining rewards, because it will not be recorded in the snapshots. You can transfer part or all of your LP tokens to other accounts on layer-2, but the mining rewards will also follow.

The total reward for BEL-ETH Swap Tournament is 2,500 LRC, and will be distributed according to the above chart to the top 25 users with the most swap volumes in a pool.

Tutorial for mining at Loopring

  1. Visit https://exchange.loopring.io with Ethereum wallet, click “Connect Wallet” and confirm in your wallet

2. Click “Pool”, select BEL-ETH pair, then click “Deposit to Activate Layer-2”

3. Input intended amount, then click “Deposit to Activate Layer-2”

4. Confirm in your wallet

5. Now your account is registered, click your wallet address then click “Unlock” to unlock

6. Confirm in your wallet, two steps of sign are needed

7. Click “Pool”, select BEL-ETH pair, then input the intended amount and click “Add”

8. Input intended amount, click “Add”

9. To remove liquidity, select your pool and click “remove”

10. Select your intended amount, then click “Remove”

11. To withdraw, click your wallet address, then click “Withdraw”

12. Select between “withdraw” and “fast withdraw”, input intended amount, click withdraw and confirm in your wallet

Happy mining and enjoy fast and cheap swap experience on layer2!

Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our Layer-2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — orderbook and AMM DEX with no gas fees. To learn more, you can sign up for our Monthly Update or see Loopring.org.

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Bella is a suite of open finance products including automated yield farming tools, lending protocol, 1-click savings account, customized robo-advisor, and more. We believe everyone deserves equal access to premium financial products and services with elegant design and smooth user experience.

Bella brings your familiar mobile banking into crypto with just one click. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts.

Bella’s core team consists of serial entrepreneurs and blockchain veterans who have tremendous experience and proven track record in finance, cryptography, blockchain, and engineering.

For more information about Bella, or to join our team,

please contact us at contact@bella.fi

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