Coins
19,079
Market Cap
$1,703.82 B USD
24H Change

+4.70%

24H Volume
$88.13 B USD
Dominance
BTC: 50.72%, ETH: 16.11%
ETH Gas
54 Gwei

LRC

Loopring

LRC

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$0.2351 USD

N/A

(24H)

0.000005642 BTC

-5.28%

(24H)

Loopring Price Chart (USD)

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Market Cap (USD)

$313.06 M

24H VOLUME (USD)

$24.09 M

Circulating Supply

1.33 B LRC

Max Supply

1.37 B LRC

Total Supply

1.37 B LRC

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General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0xbbbbca6a901c926f240b89eacb641d8aec7aeafd


  • icon

    Solana

    HCTVFTzHL21a1dPzKxAUeWwqbE8QMUyvgChFDL4XYoi1

About Loopring

Rank #146

Loopring Price Summaries

Latest Data

Loopring’s price today is US$0.2351, with a 24-hour trading volume of $24.09 M. LRC is +0.00% in the last 24 hours.LRC has a circulating supply of 1.33 B LRC and a max supply of 1.37 B LRC.


What is Loopring?

Loopring is an open layer-2 protocol on Ethereum for scalable non-custodial exchanges. The Loopring protocol has smart contracts and zero-knowledge proof circuits that enable high-performance decentralized exchanges (DEXes) to construct a zero-knowledge rollup (ZK-Rollup) structure, allowing higher throughput and lower settlement costs without sacrificing Ethereum-level security guarantees. Holders may stake LRC tokens, the official token of the Loopring protocol, to generate protocol fees, and DEXes can use them as a bond to follow protocol-defined behaviour.

A brief history of Loopring

Founded by software engineer Daniel Wang in 2017, Loopring is a Layer-2 scaling protocol for DEXes based on the Ethereum blockchain. It allows multiple exchanges to mix and match orders, handle off-chain order matching, and conduct on-chain transaction clearing and payments. The protocol offers a decentralised and automated trade execution system to traders, participants, and institutions. It implements trades across the world's crypto exchanges, shielding traders from counterparty risk and reducing trading costs.

Loopring was initially deployed on the Ethereum blockchain. However, Loopring is blockchain-agnostic and can run on any possible public blockchain if they wish to integrate it.

In August 2017, Loopring conducted an initial coin offering (ICO) for LRC, its ERC-20 token, and raised 120,000 ETH, worth US$45 million at the time. The total supply of LRC is capped at 1.375 billion tokens.

In January 2021, Loopring introduced a new economic structure for its LRC tokens. In the previous structure, LRC stakers who locked up tokens for a minimum of 90 days earn fees from the protocol. In the revised model, protocol fees are distributed as follows: 80% to liquidity providers on Loopring order books and automated market makers (AMMs), 10% to insurers, and 10% to Loopring’s decentralised autonomous organisation.

In March 2022, Loopring announced that video game retail company GameStop has built its new NFT marketplace atop the Loopring Layer-2 protocol.

How Loopring works

Loopring is an Ethereum-based decentralised exchange protocol and 'automated execution system' that allows users to trade assets between exchanges. It is not a decentralised exchange; it supports trading in a decentralised environment through ring sharing and order matching.

Loopring aggregates all orders transmitted to its network and fills them using order books from multiple exchanges. Loopring had to be implemented by both decentralised and centralised exchanges, providing them with access to cross-blockchain and cross-exchange liquidity. This also gives investors access to the best prices available on the broader market. Loopring is blockchain-agnostic, which means that it can integrate with any platform that employs smart contracts (e.g., NEO, Ethereum, Qtum).

Traders who use Loopring never have to deposit funds into an exchange to begin trading. Funds are always kept in user wallets and never frozen by orders. This provides the user with complete autonomy over their funds when trading.

The technological architecture of Loopring enables it to offer trades for a fraction of the cost of Ethereum directly. The network performs an essential function as a gas-free route for users to deposit and withdraw Ethereum-based assets. Notably, its fee structure may go as low as 1/100th of an Ethereum transaction cost. For developers constructing complicated decentralised apps (dapps), these savings might be the difference between usability and excessive expenses.

What is Loopring (LRC) used For?

The LRC token is mainly used to gain access to Loopring’s protocol. Anyone who wants to operate a DEX using Loopring has to retain at least 250,000 LRC to use the protocol’s on-chain data proofs. To operate a DEX without having to use Loopring’s data proofs, a user must stake a minimum of 1 million LRC. Even if an LRC holder doesn’t operate an exchange, that holder can benefit from a portion of the trading fees paid to the protocol.

More about Loopring

Website

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LRC Price Statistics

Loopring Price

$0.2351

24h high / 24h low

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Trending

Currency Converter

Amount

LRC

LRC

1 LRC = 0.2351 USD

Rate is for reference only. Updated

General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0xbbbbca6a901c926f240b89eacb641d8aec7aeafd


  • icon

    Solana

    HCTVFTzHL21a1dPzKxAUeWwqbE8QMUyvgChFDL4XYoi1

LRC Price Statistics

Loopring Price

$0.2351

24h high / 24h low

N/A

7d high / 7d low

N/A

30d high / 30d low

N/A

90d high / 90d low

N/A

Trending

Company

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