Name: Loopring
Brand: Loopring
SKU: LRC
Price: 1.754935 USD
Availability: InStock
Rating: 4.5 (28 reviews)

Market Cap

24h Volume

Circulating Supply

Total Supply

24h Change

Features good technological feasibility and diverse application scenarios, with major products already launched and either an early-stage or stable ecosystem in place. Multiple automated metrics indicate a notable level of industry attention and support, along with relatively manageable risks.

Loopring

Mudrex

Market Statistics

Loopring (LRC) is an Ethereum-based cryptocurrency token that powers the Loopring protocol, a decentralized exchange (DEX) platform. Loopring aims to combine the best features of centralized and decentralized exchanges by providing high-throughput, low-cost, and non-custodial trading solutions. The protocol uses a unique consensus mechanism involving ring miners who match orders in a way that increases liquidity and allows for multiple trades to be executed simultaneously. Loopring employs Zero-Knowledge Proofs (zk-Rollups) to bundle transactions together for efficiency, allowing for faster and cheaper transactions while maintaining the security of the Ethereum blockchain.

The Loopring token (LRC) is an ERC-20 token with a capped supply of 1.37 billion tokens. LRC is used for paying trading fees on the Loopring DEX and for staking, where users can lock up their tokens to earn rewards and participate in the network’s governance. The token also acts as an economic incentive for operators of sidechain nodes who perform necessary tasks like executing orders and maintaining the network’s integrity. A portion of transaction fees is burned, creating deflationary pressure on the token supply.

As of the knowledge cutoff date, the market data for Loopring includes a circulating supply of approximately 1.37 billion LRC tokens, with the price and market capitalization subject to change based on trading activity. The token has experienced significant price fluctuations since its inception, with historical data showing both peaks and troughs in its valuation.

Loopring addresses the Problem of inefficiency and high costs associated with trading on the Ethereum network. By providing a Layer-2 scaling solution, Loopring enables decentralized exchanges to operate with higher throughput and lower fees, making them more competitive with centralized exchanges. The protocol also solves the issue of liquidity fragmentation across DEXs by aggregating orders and facilitating cross-chain trading.

Daniel Wang, a software engineer with experience in the technology and finance industries, co-founded Loopring. The team behind Loopring consists of professionals with backgrounds in blockchain technology, cryptography, and financial services, contributing to developing and adopting the protocol.

Loopring’s initial coin offering (ICO) took place in August 2017, with the token priced at $0.067. The sale raised 120,000 ether, which was worth approximately $45 million at the time. Due to regulatory changes in China, the Loopring Foundation had to return about 80% of the funds raised, retaining 20% for future development.

The Loopring whitepaper outlines the protocol’s vision to create a high-performance, secure, and scalable DEX platform using zkRollups. It details the technical architecture to achieve low-cost and fast transactions, including order rings and zero-knowledge proofs. The whitepaper also discusses the tokenomics of LRC, the role of ring miners, and the governance structure of the protocol. It emphasizes the importance of non-custodial trading and the protocol’s ability to aggregate liquidity from various sources. The document provides a comprehensive analysis of the challenges faced by traditional DEXs and how Loopring’s innovative approach addresses these issues to improve the overall trading experience on decentralized exchanges.