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Loopring CEO Interview – Daniel Wang Uncategorized 

Loopring CEO Interview – Daniel Wang

welcome to the show everybody super excited to have with us today Daniel Daniel is the CEO over at loop ring of course one of the hottest projects out there at the moment Daniel welcome to the show Thank You Alaric and we’re glad to be here so for anyone who hasn’t heard about loop ring yet can you tell us just quickly what is loop ring and what do you do sure a loop ring is a protocol for year C 20 token exchange which combines the offline of chain other book and a unchain settlement protocol smart rock contract so is a protocol that can be deployed on top of ether theorem as well as other public block chains as long as they are capable of running smart contract and they have some token standard okay great so this this would apply across most block chains then yes but how to clarify one thing many people didn’t read the white paper they think loop ring is a cross chain protocol which is not true we are really interested in thick digging into this direction of research we have a partner that we will announced in probably January with a very famous University with a professor who is also very well known in this block chain crypto area so we are going to do some research over there but right now for the first version I think we’re going to focus on just one single chain to facilitate all the tokens trading with each other and not cross chain mm-hm raus chains art and a lot of people are trying to make that happen but in chain okay cross chain that’s kind of the the the golden standard for what is sorry that problem takes more than one team you know to accomplish that’s it so with the with the loop ring protocol you’ll be able to exchange atheria mini RC 20 tokens you’ll be able to exchange neo and other neo based tokens you’ll be able to exchange for example nem and M based tokens do you have any will you be able to operate on the nem blockchain not I cannot tell right now that our first priority is still in Syria because we live it has the biggest ecosystem right they have a lot of tokens and we are going to implement it roping on top of neo and quantum as the second step maybe starting from a January if we have bandwidth we are going to explore maybe EOS some other blockchains but it depends really depends on you know how much work we can yeah absolutely there’s only so much time in the day of course fantastic now can you tell us exactly how does the LRC token work what is the utility of it I mean they are C is going to be used as a fee to pay for the miners the ring miners not theorem note miners as so there are two ways to pay the ring miners the first one is used IRC as a constant percentage of the value of the entire outer right the second one is called a margin slate if you submit other and the reminder finds a the other order that can fulfill your order with a better price and you can buy more target token or you can save more with your pain buying token right and then you can split this saving cost saving all the profit wisdom and so in that case you don’t have to pay ever see and actually you will can’t ever see because the manual will pay you the other submitter pay they’re paid on the error c2 by the right to get the murder displayed so during a trade our RC is going to be paid this way or the other way around so it’s also going to increase the liquidity very cool very cool and I think that’s really good to note as well there are opportunities to earn with the coin as well so it’s not just you know something that you hope the value goes up over time of but actually there are ways to earn with loop ratings ooh now can you tell us a bit about the beta and what’s going on with that we almost put all the features in the beta right now so let me say we have something that is not going into the beta which is the support for the ERC truth 23 standard that one is going to be in the 2.0 release so the release 1.0 is going to be how full support for IRC 20 we are going to officially deploy this 1.0 version maybe at the beginning of the next month so we are going to release a new version this weekend the beta 4 release train one week later and most two weeks later the final one point already is going to be there very cool so lot lots of things happening the development is moving forward and that is very cool that’s very cool it’s very exciting to see projects where things are happening all the time it’s very exciting indeed now there’s a lot of talk on the reddit boards and across social media in general if everyone just says you know loop ring neo what’s the connection can you tell us a little bit about what your connection is with the guys over at neo if there is any connection at all yes I think we have a very good relationship I know Donghae the founder of neo even before he founded this great project so so at that time is called engineer or something like that so we talked a lot during that time when I also had my own a company called a coin part which is a centralized exchange right this is like a Beatrix and they know and so I know him pretty well and I like it very much I like this conversation personally I really enjoy you know talking mm eh and his team we share a lot of common belief even the looping project is is also inspired by some ideas that Stockholm free had professionally I think we are going to have a very strong partnership but I cannot tell much of the details because we are still figuring out the details yeah and I think it’s a good idea for neo to have multiple protocols deployed on top of it right because you can also say this one is the officially one that that one is not the official or not supported bad team as the ecosystem I think Neil needs some competition in any area right protocol at the ABS we think we are going to be doing really well in on top of Neil and I think Neil is very unique with this Chinese background this huge market it has a lot of potentials very cool very cool it’s a I think there’s a really great development space going on around those different projects and your project and what neo is doing other projects around there so I think there’s a really cool meeting of minds happening and I I think it’s great that you’re involved with the guys over at neo but the important thing is like you said it’s a protocol loop ring can go on top of neo can go on top of aetherium not that uh you know you’re putting all of your cards on one blockchain by any means you know it’s that’s what’s great about loop ring it’s a protocol it’s not a solution for just one thing you could go to many different places yeah we have a strategy of not only implementing looping on top of one block Chander our strategy is to implement it to implement block protocol on top of the top file 210 block chains so in the long run you know it remains the best way for now right but who knows which is the most successful plug-in failures so as a protocol you need to you know get less risk right yeah very cool now your protocol will allow for the basically decentralized exchange of assets have any exchanges actually come forward and said we want to be involved with you yet or are are you in talks with any exchanges at the mod I know of course can’t mention a names but is that something that’s kind of going on in the background yes there are several exchanges they have expressed their interest in loop rain and they are trying to explore this protocol they invited the meet who talked to their team and there is a big one a big one you know in the in the list but the the hammer is said to me that they really got to do this because we have to tie our capability without time that this protocol can be used with our own wallet right to make them you know to make them believe that this is really ready for production use of course that it has to be working flawlessly in order for these guys to basically put their reputations on the line as the a usable exchange that this is gonna work and the work the way they want it to work yes I think exchanges is going to be the second wave of integrate to integrate Lauren because wallet they are going to integrate with Laureen I think much easier much faster than the exchanges because exchanges they have a way of making money right but bonus they don’t have bihter kaswell right now and by integrating with looping they provide a entry point for their users to not only transfer money receiving money that you can also submit others who do this to do this trade right and that will actually compete with exchanges to grab the user from big cities – yeah – the earth yeah so I think that’s the mentality and I love that I think it more Wallace adopts looping then exchanges will be more waiting to talk to us or talk to other protocols all right very cool very cool it’ll be really interesting to see how the space develops I know that for example köppen HUD and Finance obviously both East Asian projects are not decentralized but they want to be decentralized so it’ll be interesting to see if any partnerships happen with them or of course with any other big exchanges out there as well now you’re not the only protocol in the space obviously we have a X for example they are working on a protocol as well how would you say you compare with the competition well first of all I think this market is green so rapidly it has a lot of room for modern just one protocol right loop ring as seen from the design perspective from the infrastructure perspective is more the worst than the other protocols that I have seen Xerox is very inspiring I learned a lot from Xerox design I think compared to loop in Syria 0’s lacks in the ability to you know to automatic trainings so you have to be online to take the counterparty order to get fulfilled right and if that part can be resolved I would say 0s is going to become just like blueprints if that product is out so I don’t know sir X has a advantage of you can just can’t take order to to mass so this is going to be if I know a friend he’s going to trade with me you know we can just we don’t need a third party to be to be involved to help us to the trade it that’s cool right and it’s very easy to understand a loop ring is more like solving the problems that current exchanges have in not just what everybody has a friend yeah exactly so I think we are going to see you know who is going to win out but we have the confidence I think they are three or four months ahead of us in terms of completing the ico you know the research development but we are with working really hard we are we have 12 engineers we have a sir we have a team of 10 12 people and 10 we really lucked out and show the community what you can do with our product and our very cool very cool now I saw that you recently have struck a deal with the company called MLG blockchain can you explain a little bit what does that partnership mean for loop ring and how’s that gonna work as I mentioned we have a really small team and most of the people are engineers we have only one marketing full-time for international marketing operation we have only one for China market specifically so we need more people to work on marketing on operations but we really don’t get this core team really huge I like small teams because the you know the conversation is really efficient and from the cost perspective AI want to reduce cost so so the idea is to partnership with other companies who were strong in crypto area in marketing so we select one magrunner in north america we have another partner in China with me in the future to form another partnership in Europe in South easier Korea Japan so that’s the that’s the way we are going to do operation and marketing because as you know a lot of team they have pretty good marketing team but in the long run these people are going to leave if they make a lot of money right they are not going to I mean I think any crypto project the dirty Murr is going to be sooner or later decentralized including the development team so I don’t want we’ll have a very large team several offices all over the world you know from the Contra stuff it’s not very smart so that’s that’s the way to go very cool very interesting actually and the final question I want to ask today is looking forward towards the roadmap and towards future development of looper and what is the thing that maybe makes you the most excited or that you’re looking forward to the most in the future development of loop ring well that’s a good question actually a few really exciting everyday that’s that’s a good way to go to work isn’t it I feel the same way if you look at the github repository I contributed myself maybe 2/3 of the protocol code and maybe half of the wallet code so when I implement those features in our smart contract you know early wallet I just get more confidence you know so I really enjoy this dislike this work and next year will be more exciting especially the first half year I think we are going to release 2.0 the new version to support ERC 12 to 23 we are going to release or even do a small ICO for Neal or quantum I don’t know how to do that we are going to distribute new air RC tokens on top of other block chains which we called our RC x tags is something extra distribute the majority of those new tokens to current token holders so we have a lot of work to do and we are going to see whether this protocol will fly or not we don’t know yet but regulat is because this crypto world is like crazy every day is a different day right yeah it’s always an adventure well that’s great Daniel thank you so much for taking your time to talk with us I know everyone’s been really excited about I know you’re a busy guy so I wish you to have a lot of fun while you’re over there in America hope you’re making some good partnerships then we really are gonna be watching loop ring closely for the future developments as they move forward thank you lord thank you for our time I’m really glad to be here

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