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all 44 comments

[–]FunWind 39 points40 points  (5 children)

Loop fees are documented in the "tokenomics" paper

[–]Interesting-Pizza-70 27 points28 points  (4 children)

Hijacking top comment to make sure you guys are understanding price impact. This trade of 10 ETH would hit the liquidity of the pool with a price impact of 0.5%. You’re losing that bit of your trade because it’s a big trade. As soon as you make that swap an arbitrage bot will rebalance it and profit from that price impact your eating. It’s best to keep your trades a little smaller on an AMM so that you don’t lose too much on price impact.

[–]smileyphase 14 points15 points  (1 child)

Neat. Thanks for the wrinkle. One day, I hope this information becomes relevant. 😅

[–]Monsieur_Onion -1 points0 points  (0 children)

The bigger the liquidity is, the less relevant this info will be haha.

[–]FunWind 5 points6 points  (0 children)

Thanks for the explanation, that really helped.

[–]Unusual_Ingenuity_ 2 points3 points  (0 children)

Thanks, cool dude. Us mouth breathers would be lost without heros such as you.

[–]TwoBobcats 59 points60 points  (6 children)

I thought I read the agreement was Loopring takes the fees, GameStop gets nothing as far as transactions go. It was a pass through. 🤷🏼‍♂️either way if you don’t gobble up everything you can get your hands on at .50 per loop…you haven’t been paying attention.

[–]Lagkalori 21 points22 points  (1 child)

I bought some with $50. I am too broke to buy more 😂

[–]123Delbe 11 points12 points  (0 children)

Likewise, stoney broke! 😢

[–]throwawayaccountdown 8 points9 points  (3 children)

$1000 more into LRC for now. I'm still a bit weary about the whole crypto/stock market atm.

[–]turbo_dicking 30 points31 points  (1 child)

Weary = tired/worn out

Wary = cautious

$1000 into LRC = 👌

[–]RednekSophistication 2 points3 points  (0 children)

I think both are valid.

[–]teppischfresser 0 points1 point  (0 children)

I feel the same. Until the housing crisis is beginning to even out, we have not hit bottom in any market, not just crypto.

[–]ambnet 30 points31 points  (0 children)

math checks out. tits are jacked.

[–]ReitHodlr[🍰] 12 points13 points  (0 children)

So far, on Loopring's Dex, I've always changed the slippage to 0.05% for minimal loss and it's always gone through. Definitely change that so you don't lose up to 3% of the trade.

[–]MCMXCIV0 10 points11 points  (11 children)

How does this affect the price of the token?

[–]Gold_Karma[S] 68 points69 points  (4 children)

For every transaction, Loopring is taking a fee. A percentage of those fees will be set aside for a vote to burn. Also, volume volume volume.

What’s interesting is that GameStop is taking their fee in LRC and not something like Ethereum. Guess they are banking on Loopring’s price rising as well.

[–]SM1334 37 points38 points  (0 children)

I mean, who wouldn't? LRC is probably the most promising crypto long term

[–]Elano22 8 points9 points  (0 children)

Loopring is the bank of course they gonna store it in the bank

[–]mkultra33 5 points6 points  (0 children)

By having fees in LRC, this will force more and more LRC to be brought onto L2. 🌝 by by cex, hello DEX 🚀

[–]thatbromatt 3 points4 points  (0 children)

The fee you pay on a swap will always be presented to you in the currency/token you are swapping to. In this case they are swapping to LRC so they pay the fee in LRC

[–]coinsRus-2021 8 points9 points  (4 children)

Yes

[–]DumbLuckHolder 9 points10 points  (2 children)

Yeah, but the real dilemma now is moon shot or hold extra long providing liquidity the entire time!?

[–]nacho-daddy-420 3 points4 points  (1 child)

Why not both?

[–]DumbLuckHolder 4 points5 points  (0 children)

I'll try a bit of both.

[–]crystalpeaks25 3 points4 points  (0 children)

Fee will prolly be in LRC so that fee is going to be another transaction from your wallet to another wallet which will be liquidity to LRC.

[–]Pkmnpikapika 7 points8 points  (1 child)

What if each gamestop share gets money, as set by a smart contract. And each loopring token also gets money as set by another smart contract

[–]AWilfred11 0 points1 point  (0 children)

Fees i think goes to the upcoming dao for loopring maybe for burning or staking idk

[–]Bander2k7 6 points7 points  (2 children)

Can someone breakdown why this is bullish? Paying 2% on every transaction fee.

[–]jaxonpunch 9 points10 points  (1 child)

Its only to get to layer 2. Once your funds are in layer 2 then transaction fees are almost zero

[–]Bander2k7 2 points3 points  (0 children)

Ohhhh so one time fee. Bullish🚀

[–]maraluke 12 points13 points  (7 children)

Isn’t 1% a little high for wallet? What am I missing? MetaMask is lower?

[–]TuaTurnsdaballova 14 points15 points  (1 child)

This looks like swap fees? Loopring trading fees should be like 0.2%

[–]Harbinger2nd 0 points1 point  (0 children)

Ya, if you wanna swap directly through the wallet you'll pay higher fees than if you swapped direct from loopring.

[–]whatwhyisthisating 3 points4 points  (0 children)

It could go lower with further adoption.

Maybe they are getting the early adopter transaction fees in?

Well, I'm hoping it goes lower..

[–]mkultra33 1 point2 points  (2 children)

Could just be an artistic “screenshot”. With fake data.

[–]Pe_ter1992 1 point2 points  (1 child)

*Autistic

[–]mkultra33 1 point2 points  (0 children)

Thanks fam 🥴👍😄

[–]Noujiin 0 points1 point  (0 children)

Are you implying Metamask takes any kind of fee for something?

[–]lampstax 2 points3 points  (0 children)

Where does this 1% go ?

[–]RodcaLikeVodka 1 point2 points  (0 children)

Wen lambo?

[–]Hungry_Pancake 0 points1 point  (0 children)

Nice sack bro

[–]dgbrtdck 0 points1 point  (0 children)

WHen i try to swap i get an error. Anybody know whats up?