Summary: Loopring Exchange delisted the TRB/ETH trading pair last Friday. We’d like to provide more information regarding the reason behind it and to offer instructions for TRB withdrawal. TRB token address: 0x0ba45a8b5d5575935b8158a88c631e9f9c95a2e5 The delisting is due to a mechanism we implemented in the current version of the Loopring protocol (3.1) to prevent the relayer from spending too ...
Loopring Exchange delisted the TRB/ETH trading pair last Friday. We’d like to provide more information regarding the reason behind it and to offer instructions for TRB withdrawal.
TRB token address: 0x0ba45a8b5d5575935b8158a88c631e9f9c95a2e5
The delisting is due to a mechanism we implemented in the current version of the Loopring protocol (3.1) to prevent the relayer from spending too much gas per token transfer. When Loopring distributes tokens back to users (from the zkRollup back to Ethereum layer 1), the gas limit per ERC20 token transfer is 60,000. If the actual token transfer requires more gas than this limit, the withdrawal is successful, but the actual token transfer will fail. In such cases, the user or a party willing to pay the fee can help the user do the transfer, which means the user can always still get his/her assets back. The gas limit for transfers in the protocol was selected carefully by comparing many token transfers’ actual gas costs, and this mechanism works well for most tokens, but unfortunately not TRB.
A typical TRB token transfer spends more than 120K gas, double the protocol’s transfer gas limit. To facilitate TRB withdrawals, we can add UI functionality so users can trigger their own withdrawal transfers (and pay transaction fees), or our operation team will have to monitor all TRB withdrawals to trigger failed TRB token transfers for our users. This UI feature, however, is not a priority for us, as we put the mobile wallet app and several other developments first.
If in the future we add the aforementioned UI feature, we’ll of course consider relisting TRB and other tokens that require more gas for transfers.
As you can see, Loopring’s delisting of TRB has nothing to do with the non-technical properties of the TRB token or the Tellor project, which we were glad to support.
Note, our transfer gas limit is a feature, not a bug. Loopring 4.0 will offer some flexibility for the operator, but the automatic distribution may still fail in special circumstances.
How to withdraw your TRB?
You can withdraw TRB on Loopring.io as usual, but you’ll have to withdraw the full TRB balance before June 14th. All TRB withdrawals will be marked as “Succeeded”, but the token will not arrive. On June 8th and 16th, we will manually trigger token transfers to send TRB back to your wallet.
After June 16th, we will remove TRB from Loopring.io, and you will no longer be able to request withdrawals using our UI. The tokens are of course always yours and only yours, and you can withdraw TRB by interacting with the smart contracts directly, but if you’ll need our help in interacting with the contracts, etc, we may have to charge a fee to cover our costs.
We apologize for this inconvenience, but it highlights both the gas efficiency of our system, and the absolute self-custodial properties of a zkRollup DEX. Thank you for being on Ethereum’s first and only scalable exchange!
Link: TRB Delisting And Withdrawal Instructions [Copy]