About
Loopring (LRC), is the token for Loopring. This open Layer-2 protocol was designed to overcome the shortcomings of existing cryptocurrency exchanges.

Developers can use Loopring protocol to develop faster and more scalable decentralized application (dApps), which offer exchange functionality on Ethereum blockchain.

The Loopring.io payment and decentralized exchange (DEX), is also managed by the protocol. The protocol’s LRC token is a utility token of the ERC-20 standard and was launched back at the end of 2017.

Current Status
Loopring is built on Ethereum and ZkRollup (Zero Knowledge Rollup) cryptography. This is an extremely secure scaling mechanism that uses all Ethereum security features.

It can perform up to 2,025 transactions per seconds, which lowers transaction fees to 1/10th of the ETH mainnet network fee.

Transacts off-chain. Non-custodial DEXs can match custodial central exchanges’ performance.

Can be integrated into any smart contract platform.

The utility tokens Loopring (LRC), which are also known as LRC, can be used to trade, swap, provide liquidity, or make payments. They’re also used as a governance token.

Loopring DEX boasts more than 27K users, and has $0.5B in total value (TVL) at press time.

Competition:
DEX introduced its layer-2 scaling solution to the market in 2021. Ethereum’s leading DEX has more liquidity and community than any other (over $8.3B TVL).

Polygon is a highly scalable solution for Ethereum-based DeFi applications.

Website & Whitepaper:
There are separate websites for Loopring protocol, and DEX. Each site has links to technical documentation and fees.

Whitepaper: highly technical, goes deep into details.

Stage of development:
Loopring DEX utilizes Loopring protocol version 3.6. This is currently in beta.

Loopring Wallet beta is available for Android users only.

Loopring Automated Market Maker, (AMM), launched the mainnet beta.

LRC-enabled stakestaking will begin in 2020.

NFT support for trading, minting and transfers on L2 directly to ERC721 token standards.

Roadmap:
The project issues the annual development plan.

Posts quarterly updates.

Works with an undisclosed partner on NFT marketplace, which is “set to launch sometime prior to the end of 2021(Q4).”

Fundraising:
In August 2017, $45 million was raised during an initial coin offering (0.06) ICO: 750 Million LRC tokens sold (54 percent of total supply).

A month later, Loopring refunded money to ICO investors due to China’s strict regulations.

Presales were not subject to KYC.

Teams
Loopring Foundation founder Daniel Wang is the CEO and co-founder of Loopring Foundation. He has been involved in cryptocurrency since 2014. Worked as Tech Lead & Senior Software Engineer at Google (NASDAQ:), Senior Engineering Director at ZhongAn Insurance.

Adam Browman has been the Head of Growth for the company since May 2021. As an expert in digital marketing for a traveling company.

The headquarters is based out of Shanghai and employs between 11-50 workers.

Advisory board members include Da Hongfei, the co-founder of “Chinese Ethereum” NEO and CEO of blockchain tech company Onchain.

Partnership & Investments:
In 2019, Chainlink was partnered and Loopring DEX integrated Chainlink’s oracles.

Rumored partnership with GameStop

G2H2 Capital (NEO, Fundamental Labs and Obsidian Capital) are all examples of venture capital investment. All of the investments were made via ICO.

Since the ICO, no data available on venture capital investment.

Community
Twitter (NYSE:), (143K), Discord (18K), Reddit (19K), Reddit [65K], Weibo (318K), Medium (95)

There are communities that exist on social media and they’re active.

The Key Metrics
Token standard: ERC-20

Maximum supply1.37 billion

Supply circulation: 1.33 Billion

Market Cap $3.7 Billion

Listings on exchanges:
Listened on 137 cryptocurrency exchanges. (See the complete list).

The most common pairs for trading with USDT and BTC are ETH, ETH, ETH, WETH.

Token allocation:
More than 72K wallets for Ethereum chain and 17 for Polygon.

Concentration on whales with more than 1% max supply: 89%

Wallets:
You can store it in an ERC-20-compatible wallet, or in a downloadable Loopring Wallet.

Price changes
The All-Time High (ATH), $3.75 in November 2021

All-time low (ATL): $0.019 December 2019.

LRC lower than 30% below ATH in the time of writing

Verdict

• This ambitious project is about building decentralized exchanges. It aims to build an interconnected system that combines both central and decentralized trading platforms.
• It can compete with other decentralized exchanges, enabling offchain transactions which increase transaction speed and reduce costs.
• The project’s team is constantly growing. Loopring doesn’t hide the identities of its employees and welcomes them into the community. The situation with members of the advisory board is slightly different, since this list hasn’t been updated since 2017.
• We could not find any official data on venture capital investments after Loopring’s ICO in 2017.
• You can buy LRC on nearly all of the top crypto decentralized and centralized exchanges. The majority of LRC supplies are concentrated in large holders.
• Loopring (LRC), a token with a low market cap, has plenty of potential to grow. This is especially true given the slow and costly Ethereum network.

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