Hey everyone. First of all, great to have my first post here! Looking forward for this forum to become a hub for Loopring community discussion and engagement.
I want to kick it off with a topic many people have good and strong opinions on: liquidity mining. More specifically, extending the duration of a round beyond 14 days. And other changes as well.
As you know, the current liquidity mining framework on Loopring L2 is rather new, and we’ve been tweaking some parameters as we go, learning. As an example for those unaware, here is the current round, round 4.
- Liquidity mining campaigns (i.e., any incentivized AMM pool or orderbook pair) can last longer than a 14 day round. They can last up to 6 months (can be extended beyond 6 months once that time is up).
- 14 days are still the main ‘unit of time’ for liquidity mining purposes. It is the smallest unit. A liquidity mining campaign must be for at least 14 days.
- Regardless of length of full liquidity mining campaign, rewards are paid out every 14 days. (With the same 1-3 day leeway for actually double checking the calculation & sending the rewards on L2 to all LPs/market makers). So if a liquidity mining campaign is for 2 months, (or 4 x 14 day periods), payouts would happen 4 times, in equal amounts per time. This is so you are not waiting for a long time to receive your rewards for longer campaigns.
- Liquidity mining campaigns can start every Wednesday. Not waiting until the end of a prior ‘round’ anymore. Instead, any campaign, for however long, can start on any Wednesday. We choose Wednesday because we need some specific time to be able to configure the relayer for the mining programs, and if needed, list the new asset or pools or pairs. It is a manual process to do this, so best to be done in weekly chunks. Currently, Wednesday is indeed the day we try to process all new listings. So Wednesdays will become a ‘big day’ for Loopring and Loopringers! New assets/pools/pairs, new liquidity mining campaigns launching, and some old ones could of course be elapsing on Wednesdays, meaning payment is due right around then, or the day or so after.
We feel like this is a good format to better satisfy LPs, L2 users at large, project/reward sponsors, and the team.
Curious everyone’s thoughts. Please jump in whether you like it as is, or have some different ideas. Thanks!