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Swap tokens gas-free
Loopring L2 supports both types of Ethereum DEX ‘market structures’: orderbooks and Automated Market Makers (AMMs).
First let’s look at swapping on the AMM.
The AMM pool will automatically show you the exchange rate.
You will also see the minimum amount you are guaranteed to receive from the swap. You can adjust the slippage tolerance on the right hand side. Just beware of the price impact in some illiquid pools!
Currently, Loopring fees are 0.3% for the swap. 0.2% of that goes to liquidity providers (LPs), the remaining 0.1% goes to the relayer and protocol fee. Fees are taken from the token you are buying. Remember: there are no gas fees!
Once you’re ready, click ‘Swap’ and your transaction will be executed instantly. No delay, no gas fee. Your L2 balance will be updated. You can see your swap history and the fees you paid in the Transaction History tab.