Loopring (LRC) 2018-05-02T03:50:42+00:00

Loopring (LRC)

Project Description

Purpose

Loopring is an open, multilateral token exchange protocol, for decentralized exchange on the Ethereum blockchain. Loopring is intended to serve as a common building block with open standards, driving interoperability among decentralized applications (DAPPs) that incorporate exchange functionality. Trades are executed by a system of Ethereum smart contracts that are publicly accessible, free to use, and that any dApp can hook into.
 
By using ring-matching, Loopring can detect a ring of orders that may involve multiple tokens/currencies and fill them all instantly.
 
LRC can be paid as transaction fees (Gas) to the exchange. It will be simple and productive for the exchange to calculate all the cost in LRC.
 
LRC can also be used as a deposit for exchange registration. The decentralized exchange mechanism has no limits on location or time. Consequently, exchanges with a high turnover would receive more orders and get more users. As a result, Loopring has designed a policy for such exchanges that allow users to use LRC to deposit into a smart contract in order to increase the exchanges credibility. Moreover, it can also protect users from certain adverse circumstances.
 

Strengths

– The fact that the Loopring protocol is blockchain agnostic means that there are no trading pairs. All ERC20 tokens can be traded for any ERC20 token
– The protocol has been implemented by the Qtum blockchain and is being implemented for the NEO blockchain
 

Weaknesses

– 40% of the tokens are held by the Loopring team
– 0x and Kyber Network both offer something very similar to Loopring, but they are already widely used

Network Status

The Loopring network is up and running.

Roadmap

Q1 2018: Open source ring-mining software
Q2 2018: Token Sales, Airdrops and deployment on NEO and QTUM
Q2 2018: Open source & launch a wallet to trade with Loopring Protocol
 

Governance

Loopring has a dencetralized governance. Any LRC holder has a voting power that they can use to voice their opinion on different issues like token registration, exchange registration, stat hash, deposit scale, maximum length, discount hash, and subcontract address.
 

Similarities

There are other decentralized exchange protocols on Ethereum that are similar to Loopring, namely 0x and Kyber Network.

Notable partnerships

Loopring is in partnership with MLG Blockchain and Blockchain at Berkeley.

Exchange

LRC is traded on Binance, OKEx, Gate.io and HitBTC

Stack

Loopring is a protocol layer built on top of the Ethereum blockchain.

Community

Reddit: 3 683 subscribers
Twitter: 722 followers

Price history

Feb-12-2018: 0.64 USD
Jan-2018: 0.48 USD
Oct-2017: 0.15 USD
Aug-29-2017: 0.12 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations

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