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We’ve deployed the new LOOM token contract to Ethereum Mainnet, the new token contract has a 1 billion token supply, and retains the same LOOM symbol as the old token contract. Along with the new token contract we’ve also deployed the token swap contract that will handle the exchange of old LOOM tokens for new ones, at a 1:1 exchange rate.

The deployed contracts can be found at the following addresses:
New LOOM Token: 0x42476F744292107e34519F9c357927074Ea3F75D
Token Swap: 0x7711863244783348Ae78c2BDebb9802b297DCE56

WARNING: DO NOT send any LOOM or ETH directly to either of those addresses, doing so will result in an irreversible loss…


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Photo by Jon Tyson on Unsplash

First, an update! We’ve been coordinating the LOOM token swap with multiple exchanges, and a few of them have requested for additional time to prepare for the swap. To ensure that the swap goes as smoothly as possible we’ve decided to push back the go live date by a couple of weeks, so the new tentative go live date is February 1st, 2021.

Second, there’s been a lot interest in the token swap in the last few weeks, and many questions about it since the last article, so we’ll answer some of the common ones…

Why are you doing a token swap?

The existing LOOM token contract…


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In our previous article we announced that we’ll be integrating zkRollup into the Loom protocol to create the zkLoom protocol. To recap, the zkLoom protocol architecture offers a number of advantages over the existing Loom protocol:

  • Transactions on a zkLoom blockchain are verified on Ethereum, making it practically impossible for a malicious validator to steal funds or cause an invalid state transition.
  • Funds transferred by users from Ethereum to a zkLoom blockchain can be recovered even if all zkLoom validators go offline, or simply refuse to process transactions.
  • Users no longer have to place their trust in validators, instead they…


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From its inception Loom Network aimed to provide a scaling solution for Ethereum dapp developers. Three years ago the most practical way to do so was to build an Ethereum sidechain secured by multiple distributed validators. To date, blockchains built using the Loom protocol have proved to be performant and secure, but the reliance on a consensus of validators to secure the chain has resulted in a lot of wasted CPU cycles, storage, and bandwidth. …


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Once the next major version of the Loom protocol goes live developers will have to deposit LOOM tokens on Basechain to cover the cost of transactions sent by users of their dapps. Every time a user sends a transaction to Basechain to interact with a smart contract a fee will be charged to cover the cost of processing the transaction and including it in the blockchain. …


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Loom Network was one of the first to implement Plasma Cash to secure token transfers between Ethereum and side-chains built with the Loom protocol. Unfortunately Plasma Cash required end users to do far too much work in order to prevent fraud, and the resulting user experience turned out to be too tedious to be useful in practice. In lieu of Plasma Cash we decided to build our own Transfer Gateway that relied on multiple signatories to secure funds.

Recently there’s been some interesting research on using zero knowledge proofs to secure token transfers between Ethereum and side-chains, and there’s now…


Sunny desert road under a blue sky
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Photo by William Warby on Unsplash

Much has changed since we published our last roadmap, we pivoted toward enterprise solutions for healthcare providers and government departments, and then COVID-19 started to spread across the globe. Shortly after COVID-19 arrived in Thailand we asked the staff at our HQ to work from home to keep everyone safe. Some found the transition to working from home harder than others, and our schedule has slipped a little bit while everyone re-adjusted to the new normal. However, we’ve been extremely fortunate in that our staff has continued to do great work during these challenging times.

In the last few articles…


This is a repost of our April 10th announcement: https://t.me/loomannouncements/295

Basechain has been running for more than a year already, with over 30 hard forks and more than a thousand builds. Recently, we’ve been seeing a decline in validators and developers working on it, and the community has been asking about this trend and what our plan is for the future.

A year and a half ago, we started the Basechain onboarding phase. We have been providing technical support (to the extent of writing and debugging code for developers), small grants, and all of our staff’s attention — in hopes…


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Matthew Campbell has recently stepped down from his role as CEO of Loom Network, and with this departure, Vadim Macagon has taken over.

Vadim has been with Loom Network since its inception, and has held multiple roles during his time at the company, most recently as the Blockchain Engineering Manager.

What’s Changing?

Effective immediately, we are discontinuing the bounty program. It didn’t work out how we expected it would, and just caused a lot of resentment.

Recently, we’ve been working on a couple of new projects, one targeting the healthcare industry and one targeting the travel industry. …


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We’re happy to announce that Loom Basechain (formerly PlasmaChain) staking for delegators is officially live. That means any LOOM token holder can now become a delegator and support validators in securing Basechain.

What is Basechain?

Basechain is a high-performance DPoS sidechain that acts as a bridge between multiple chains, with integrations to Bitcoin, Ethereum, Binance Chain, Tron (EOS and Cosmos coming soon). It supports EVM smart contracts and offers sub-second confirmation times for high-performance dapps.

Loom Network

We're building a distributed enterprise platform for healthcare providers.

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