Loopring will sponsor liquidity mining with 16% of the protocol funds in the fourth quarter

Chain Catcher News, Loopring stated that it will readjust the management of various on-chain protocol parameters by Loopring DAO, including the distribution of protocol fees and the allocation of DAO funds. During the fourth quarter of 2022, Loopring will use 16% of the accumulated protocol funds from the past few months to sponsor liquidity mining activities; additionally, a new LRC tokenomics proposal has been put forward, which may reintroduce LRC staking, allocating a certain percentage of monthly protocol fees to users who choose to stake LRC on Loopring L2.

It is reported that Loopring is an Ethereum Layer 2 zk-Rollup protocol for scalable and secure DeFi and NFT applications. Loopring has built non-custodial high-performance products on Layer 2, including the mobile Ethereum smart wallet Loopring Wallet, and the L2 order book and AMM DEX for Loopring L2 network applications. (Source link)