# Loopring

### Overview

Loopring is a decentralized exchange and payment protocol that operates on Ethereum and its own Layer 2 solution, Loopring L2. Loopring L2 is a ZK rollup that posts batches of transactions to Ethereum with zk-SNARK proofs. The Loopring Dune query can be found [here](https://dune.com/queries/3902706).

### Query Structure

The query filters successful transactions sent to the LoopringIOExchangeOwner [contract](https://etherscan.io/address/0x153cddd727e407cb951f728f24beb9a5faaa8512) that call the submitBlocksWithCallbacks function.

### Calculations

* The proof volume is the sum of successful submitBlocksWithCallbacks function calls
* The cost is calculated using the following formula: 
  * $$\text{cost} = \sum\_{\text{traces}} \left( \text{gas\_used} \times \text{gas\_price} \times \text{eth\_price} \right)$$
  * Where:
    * $$\text{gas\_used}$$ is the amount of gas consumed by a trace in one of the verifiers
    * $$\text{gas\_price}$$ is the price of gas on the day of the transaction
    * $$\text{eth\_price}$$ is the average price of ETH in USD on the day of the transaction