Loopring Crypto Platform

Pros

The platform is blockchain agnostic

Users have full controll over their assets

Users benefit platform’s revenue by staking LRC

$117,305,671 USD currently invested (TVL)

Cons

Slow development process

No support from a big incubator or investor

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Loopring Reviews

Loopring is a zkRollup exchange and payment protocol for building high-performance decentralized exchanges without sacrificing the Ethereum’s security. Loopring is founded by Jay Zhou, and Daniel Wang in 2017 with raising $55 Million in ICO (Initial Coin Offering). Loopring protocol aims to provide tools to build scalable exchanges by using the Ethereum layer-2 solutions, zkRollups. Using ZkRollups allows Loopring to serve fast and secure. The Loopring hasn’t raised funds after the seed round according to the Crunchbase.

Loopring also has a decentralized exchange platform where individuals can connect their web-wallets and trade cryptocurrencies with low-fees. Loopring exchange is built by Loopring protocol. The Loopring exchange has no hack issues in the history. The Loopring exchange secures the assets by giving the control of assets to the owners. The crypto assets are not held in a custody wallet. Customer’s assets are protected by using smart contract.

LRC tokens are ERC-20 compatible tokens built on the Ethereum network. ERC tokens are used as the native currency on the protocol. Users need LRC tokens to develop on the protocol. Loopring protocol was designed to be blockchain agnostic, means that the protocol can be adopted and perform on different blockchains. The Loopring has tried to deploy its protocol on NEO blockchain and created LRN tokens but the plans are deferred for now. The team also anounced that they are planning to expand their operations on QTUM blockchain too.

Loopring exchange offers spot trading, swap, exchange, stake, and liquidity pools tools for users. Users can stake ETH coins only on the platform. Users can also earn by adding other coins to liquidity pools.