- Category: Decentralized Finance
- Coin Launched: August, 2017
- Resources: White Paper
- Official Website: Loopring
- Reddit: Loopring
LOOPRING History / Information / Buying / Staking
Loopring was founded by Daniel Wang, a software engineer based in China who worked at internet companies including Google and JD.com. In 2017, Loopring conducted an initial coin offering, raising 120,000 in ether worth $45 million. However, a tightening of regulations around such offerings in China at the time later prompted Loopring to return much of their public sale funds. The team returned about 80% of the funds raised, according to Wang, and the Loopring team continued to develop its exchange with the remainder of the proceeds.
HOW LOOPRING WORKS
Loopring is an open protocol for building high-performance, order book decentralized exchanges on Ethereum. Their goal is to enable the building of highly scalable exchanges without compromising Ethereum-level security guarantees through a zkRollup construction.
BENEFITS OF USING LOOPRING
Some of the benefits of using AAVE are:
Loopring aims to return the control over assets to the traders by removing the need to face risks by having them deposited to centralized exchanges.
Loopring, the tokens will stay with the user’s blockchain address while the trading and transactions are being processed.
Loopring plans to stimulate competition and disrupt the existing market share division by being an open source solution favoring wider participation.
CAN YOU STAKE LOOPRING
Loopring can be staked by holders to earn protocol fees (a percentage of the volume flowing through all Loopring-based DEXes), and is staked by DEX owners as a bond for service-level guarantees.
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