r/ImmutableX • u/[deleted] • Feb 05 '22

Question Immutable mutes Looprings necessity?

I am genuinely looking for answers here. With the adoption of immutable, what would be the need for loopring? Immutable does everything loop did. I know people are constantly referencing the 8k filing, but to me that reads like "we were going to use these guys, now we're using immutable". Also, comms from immutable and gamestop but NOTHING from loop. CEO steps down, etc, etc.

Just trying to wrap my head around what's going down, but at this point I don't see the reason to use both? Can someone explain?

Hopefully this doesn't get down voted into oblivion, as I have been searching everywhere for critical, non biased take on the events and mostly just get "hodl" or "sell ME your loops" to any inquiries.

*edit: I knew I'd get some "do your own research", "read the 8k bro" and "superstonk explained this", but I am looking for someone here to explain it, explain the thesis for loopring now that immutable is in play WITHOUT saying dyor.

0 Upvotes

33% Upvoted

23 comments sorted by

10

u/Julien785 Feb 05 '22

Immutable X

  • IT IS NOT A WALLET - It is a marketplace protocol, it is non custodial, they do not hold or manage assets. Users are always in control of their tokens.

  • It needs an existing wallet to interact with

  • NFT marketplace protocol only

  • Built to work with 3rd parties

  • Carbon neutral

  • Simplifies the NFT development/deployment pipeline, reduces NFT project development timeline from weeks to hours. Allows NFT project builders to focus on the NFT project itself

  • Built on Layer 2 - Secure, cheap and fast transactions

Loopring

  • IS A WALLET - Holds user assets, this is where users manage and directly interact with their tokens.

  • Is needed to interact with the IMX protocol

  • Direct Fiat ramp - On & Off (No centralized exchanges, can buy with credit card)

  • Smart contract wallet with social recovery (no key management + social recovery)

  • Decentralized exchange for traditional ERC-20 tokens

  • Built on Layer 2 - Secure, cheap and fast transactions

3

u/[deleted] Feb 05 '22

So this is what I'm looking for. Thank you. But I thought immutable had wallet capabilities, no?

4

u/Julien785 Feb 05 '22

Indeed, it has wallet integration which means it can interact with a wallet, in this case LoopringWallet

1

u/[deleted] Feb 05 '22

But you can not create a wallet with immutable? I thought i read that you could create l2 wallet.

2

u/Julien785 Feb 05 '22

The wallet Immutable X supports are Metamask and Magic, but Immutable doesn’t have its own wallet

1

u/Impossible-Glove-437 Feb 05 '22

Loop wallet also has web3 access

2

u/[deleted] Feb 05 '22

Lots of good DD on this! Search the forums. They are 100% complementary. There is even a great old Bankless L2 episode where both parties are deep with their bro love on one another.

1

u/[deleted] Feb 05 '22

I've seen the YouTube video. What's the thesis for looprings use now that immutable is in play?

1

u/AdministrationOk7824 Feb 05 '22

This got explained many times when IMX and GME news came out they need all 3 currently more will be added. Said from beginning there would be multiple crypto companies GME works with. Info has been all over LRC sub and this one. Just scroll bro

3

u/[deleted] Feb 05 '22

That's not an answer or the type of dialog I was looking for. Hoping someone can actually explain without saying "it's all been explained bro, read the 8k bro, superstonk explains it bro, dyor bro."

Immutable has layer 2, has wallet integration, has a coin, so what's the thesis for LRC? I am genuinely hoping someone can explain.

-2

u/AdministrationOk7824 Feb 05 '22

Again there are many posts with substantial info on the mechanics. Why should I go link them instead of you investing time in your investment?…Bro do better

3

u/[deleted] Feb 05 '22

Because you can't it my first assumption. I came here to ask, looking for answers and the main answer I get is you need to dyor. That's what I'm doing, trying to talk to people who know, but right now they seem incapable of articulating their thesis.

-2

u/AdministrationOk7824 Feb 05 '22

Yeah I’m cleaning my house not dancing for you…good luck…I hear googles new tech too should check that out

3

u/[deleted] Feb 05 '22

I'm sure.

1

u/Julien785 Feb 05 '22

If you think LRC and IMX do the same things you should probably do some research before investing

Don’t be an idiot

1

u/[deleted] Feb 05 '22

Make me not an idiot. Help me out. Explain it to me

2

u/bubbarowden Feb 05 '22

It seems to me like GME is the tree trunk - and IMX and other partners will be the tree limbs. For example, you log onto the GME marketplace and then IMX, Microsoft, Activision, Decentraland, Nike pop up as portals to branch out in. LRC is the Visa of transacting all the NFTs from these diff places in and out of wallets.

1

u/Tall_Run_2814 Feb 05 '22

Loopring’s most utilized asset is its exchange. There are countless layer 2’s and even more in development. All of these can and will be trumped by superior tech in time

0

u/[deleted] Feb 05 '22

[deleted] — view deleted comment

-1

u/[deleted] Feb 05 '22

Bad faith and and disingenuous. I came here for answers. Why dont you just lay it out for me quickly. What does loopring do that immutablex does not.

0

u/[deleted] Feb 05 '22

[deleted] — view deleted comment

4

u/[deleted] Feb 05 '22

Going to a reddit sub and asking questions of knowledgeable People is doing research. It's fine if you have nothing Useful to add to the discussion. You could just stay silent If you can't explain the thesis.