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Loopring (LRC)

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About Loopring

Loopring (LRC) is an ERC-20 token that describes itself as “an open-sourced, audited, and non-custodial exchange protocol.” It aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs.

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LOOPRING History / Information / Buying / Staking

  • LOOPRING HISTORY

    Loopring was founded by Daniel Wang, a software engineer based in China who worked at internet companies including Google and JD.com. In 2017, Loopring conducted an initial coin offering, raising 120,000 in ether worth $45 million. However, a tightening of regulations around such offerings in China at the time later prompted Loopring to return much of their public sale funds. The team returned about 80% of the funds raised, according to Wang, and the Loopring team continued to develop its exchange with the remainder of the proceeds.

  • HOW LOOPRING WORKS

    Loopring is an open protocol for building high-performance, order book decentralized exchanges on Ethereum. Their goal is to enable the building of highly scalable exchanges without compromising Ethereum-level security guarantees through a zkRollup construction.

  • BENEFITS OF USING LOOPRING

    Some of the benefits of using AAVE are:

    SECURITY
    Loopring aims to return the control over assets to the traders by removing the need to face risks by having them deposited to centralized exchanges.

    TRANSPARENCY
    Loopring, the tokens will stay with the user’s blockchain address while the trading and transactions are being processed.

    LIQUIDITY
    Loopring plans to stimulate competition and disrupt the existing market share division by being an open source solution favoring wider participation.

  • CAN YOU STAKE LOOPRING

    Loopring can be staked by holders to earn protocol fees (a percentage of the volume flowing through all Loopring-based DEXes), and is staked by DEX owners as a bond for service-level guarantees.

  • COINS SIMILAR TO LOOPRING

    Direct competition to Loopring which are considered similar coins are:
    SOLANA ALGORANDTEZOS ETHEREUM