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Loopring (LRC) is the token of Loopring, an open Ethereum Layer-2 protocol that was created as a response to the limitations of traditional cryptocurrency exchanges and aims to solve the issues of transaction speed, security, and transparency.
Loopring protocol enables developers to build faster and more scalable decentralized applications (dApps) with exchange functionality on Ethereum blockchain without compromising security features.
It also runs its own non-custodial Loopring.io decentralized exchange (DEX) and payment platform. The protocol’s LRC token is a utility token of the ERC-20 standard and was launched back at the end of 2017.
State of Project
Loopring relies on Ethereum and zkRollup (Zero-knowledge Rollup) cryptography, which is a highly secure scaling mechanism with all Ethereum security features.
Performs up to 2,025 transactions per second, lowering transaction fees to 1/100th of ETH mainnet network fees.
Aggregates and executes transactions off-chain. Allows non-custodial DEXs to match the performance of custodial centralized exchanges.
Can be integrated with any smart contract platform.
Loopring (LRC) utility tokens are used for trading, swapping, liquidity providing, and payments. They’re also used as a governance token.
The Loopring DEX has over 27K users and over of total value locked (TVL) on it at press time.
Competition:
Uniswap DEX launched its layer-2 scaling solution in 2021. The leading DEX on Ethereum has the strongest community and liquidity (over
Polygon enables highly scalable solutions for Ethereum-based DeFi apps.
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