Loopring, an Ethereum token, is a non-custodial exchange protocol using zero-knowledge proofs for building decentralized, order book-based exchanges on Ethereum. More
| Fully Diluted Valuation | $121.60M |
|---|---|
| 24H Trading Volume | $7.54M |
| 24H Low / High | $0.09 / $ 0.09 |
| Circulating Supply | 1.25 B |
| Total Supply | 1.37 B |
| Max Supply | 1.37 B |
| Categories | Decentralized Exchange (DEX) 11 more |
|---|---|
| Founder | Daniel Wang |
| Website | loopring.org 1 more |
| Socials | 9 more |
| Chains | Ethereum Ecosystem 2 more |
| Explorer | Energi 4 more |
| Contracts |
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2 more
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| Name | Pair | OG Score |
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Loopring (LRC) stands as a beacon of innovation in the realm of decentralized crypto exchanges, offering a unique blend of centralized order matching and decentralized on-blockchain order settlement. Established in 2017 by Daniel Wang, a seasoned software engineer and entrepreneur based in Shanghai, Loopring aspires to address the shortcomings of both centralized and decentralized exchanges, providing a seamless and efficient trading experience.
The Loopring Ecosystem
At its core, Loopring operates as an Ethereum zkRollup Layer2 solution, leveraging zkRollup technology to expedite transaction validations and reduce transaction fees on the Ethereum network. The protocol's objective is clear: to develop a best-in-class zkRollup exchange and payment protocol, ushering in a decentralized alternative to custodial financial products and centralized exchanges.
Loopring introduces several key components to achieve its goals:
Loopring Relayer: Serving as the protocol's backend system, the Relayer manages tasks such as hosting and updating the off-chain Merkle tree, creating rollup blocks, and facilitating data transfer to Ethereum. Developers can integrate Loopring L2 solutions into their applications, benefiting from gas-free, swift transactions on Ethereum.
Loopring Layer2 App: This non-custodial exchange and payment platform, operating on the Loopring protocol, functions as an automated market maker (AMM) with an order book. Users enjoy gas-free and rapid transactions, high security levels, and the ability to conduct single swaps, high-frequency trades, and liquidity provision to AMM pools.
Loopring Wallet: This smart mobile wallet app integrates Loopring zkRollup directly, enabling users to seamlessly engage in DeFi activities, trade, buy, and sell crypto. Notably, the app employs "social recovery" as an alternative to traditional seed phrases and paper backups, allowing users to choose trusted entities as guardians in case of access loss.
Loopring's Unique Approach
Loopring's distinctiveness lies in its ability to merge the strengths of centralized and decentralized exchanges while mitigating their respective weaknesses. Centralized exchanges, although popular, pose custodial risks, making user funds vulnerable to hacks and unauthorized use. On the other hand, fully decentralized exchanges grapple with efficiency and liquidity issues.
Loopring tackles these challenges by managing orders centrally but settling trades on the blockchain. By combining up to 16 orders into circular trades, the protocol aims to enhance order execution efficiency and liquidity in decentralized exchanges.
LRC Token and Circulation
LRC, Loopring's native cryptocurrency, plays a pivotal role in the ecosystem. With a total supply of 1,375,076,040 LRC, it functions as a utility token, incentivizing protocol use and preventing malicious behavior. Users can acquire LRC through ring mining, where nodes on the Loopring network are rewarded for combining orders into order rings, maintaining public order books, and broadcasting orders.
Where to Trade LRC
For those interested in trading LRC, several reputable platforms offer liquidity. Binance, Huobi Global, OKX, and Coinbase Pro stand out as popular choices, providing a range of options depending on individual preferences and market conditions.
Conclusion
Loopring's journey, spearheaded by Daniel Wang, reflects a commitment to revolutionize the cryptocurrency trading landscape. By seamlessly blending centralized and decentralized elements, Loopring aims to offer a secure, efficient, and transparent alternative to conventional exchanges. As the crypto space continues to evolve, Loopring stands at the forefront, shaping the future of decentralized finance.
Loopring achieves improved liquidity by combining up to 16 orders into circular trades, a unique feature that distinguishes it from traditional one-to-one trading pairs.
Loopring stands out by seamlessly combining centralized order matching with decentralized on-blockchain order settlement, aiming to eliminate the drawbacks of both centralized and decentralized exchanges.
Loopring was founded by Daniel Wang, a Shanghai-based software engineer and entrepreneur.
Loopring's specific backers and investors is anonymous. For the latest details on Loopring's funding and investors, it's recommended to check official announcements or reliable financial news sources.
You can buy Loopring (LRC) on Binance, MEXC, Gate.io, BitgetBybit cryptocurrency exchanges.
