Loopring Wallet: L2 Dex & Defi

Loopring

About this app

The Loopring wallet is not only a smart contract wallet with superb security but also a DEX that supports Order Book mode; moreover a pathway to integrate DeFi and traditional CeFi products in a trustless mode. 

Be your own bank and stay in control with a Loopring wallet! 

✔  CHEAP, FAST and INTUITIVE
Harness the power of zkRollups with Loopring L2; trade, transfer assets with Ethereum-level security at 100x lower fees and faster transactions:
Easily move assets between your wallet’s L1 and L2 accounts.
Manage your NFT collections. Send and receive tokens/NFTs quickly; supporting ERC-20, ERC-721 and ERC-1155.
Trade assets using a simple Swap view; 
Unleash advanced trading experiences in Order Book mode.

✔  ONE-STOP SHOP DEFI INTEGRATION
By leveraging the great DeFi port technology under L2, the Looping wallet provides a one-stop shop solution to integrate the most popular earning products, allowing users to participate without losing control of their own assets in a pure trustless mode. 
Buy low or Sell high and enjoy a high yield via Dual Investment 
Earn passive income by providing AMM liquidity
Stake ETH to accumulate stable yield via Lido or Rocket Pool 

✔ SECURE, SMART and TRUSTLESS
The Loopring Wallet is self-custodial, meaning only you are in control of your assets. It is also managed by a smart contract, allowing for enhanced security features:
Social recovery with Guardians: trusted contacts help you protect and recover your wallet should you ever lose your mobile device. No Secret Recovery Phrases to remember or risk losing.
Cloud recovery: back up your wallet safely and securely to the cloud (iCloud / Google Drive)
Secure your wallet: increase the security by enabling two-factor authentication (2FA)
Lock your wallet: if your mobile device is lost or stolen, instantly lock your wallet until you're back in control.
Daily quotas: set limits for the maximum value of tokens that can be transferred in a 24 hour period.
Whitelist addresses: trusted contacts are exempt from your daily quota limit.

✔ EASY TO USE and FUN
Access additional features designed with quality of life in mind:
Send and receive Red Packets, gifted envelopes containing Ethereum assets.
Bind an ENS to your wallet, making it easier to remember your address.
Sign in daily to earn points that can be used to cover transaction fees.

Ratings and reviews

Not a scam. Those leaving bad reviews do not understand what they are walking into. You are an early adopter if you choose to use this app. It is a multi layer, duo wallet with a baked in decentralized coin exchange. It costs gwei to set up the wallet, so while the app my be free, this is more of a paid product. It costs gwei to move assets to the L2 wallet that interfaces with this exchange. These fees are variable and you NEED TO UNDERSTAND what you are getting into before you do this.

Very impressed with this app. Developers continue to improve it. Never had an error or crash. Yes, full functionality requires a one-time fee. Yes, it's worth it. Every service claims to provide "best execution" I think Loopring does provide that. Rock bottom fees. Never failed a transaction. 10-40% APR for liquidity providers.

As someone new to crypto, there was a learning curve setting this up but for overall it was pretty straightforward and user friendly in my opinion. This'll be a game changer once they add fiat onramp. I'd recommend to anyone interested. Definitely do your research on gas fees beforehand and set up the wallet when they are low, a lot of the negative reviews seem to be from people who didn't do this & paid a lot. You can see the cost before submitting & refresh until you get a better price.

What's new

Fix several user experience issues.