LRC
Reputation Ratings

LRC

Loopring 5-10 years
Website https://loopring.org
Browser
OTH RELPs
Github
White Paper
Avg Price
-4.25%
1D

$ 0.2752 USD

$ 0.2752 USD

Market Cap

$ 386.57 million USD

$ 386.57m USD

24h trading volume

$ 26.558 million USD

$ 26.558m USD

7d Vol

$ 148.237 million USD

$ 148.237m USD

Circulating supply

1.3668 billion LRC

Related information

Issue Time

2017-08-31

Platform pertained to

--

Current price

$0.2752USD

Market Cap

$386.57mUSD

Volume of Transaction

24h

$26.558mUSD

Circulating supply

1.3668bLRC

Volume of Transaction

7d

$148.237mUSD

Change

24h

-4.25%

Number of Markets

351

Github Messages

More

Warehouse

Loopring Protocol

Github's IP Address

[Copy]

Codebase Size

25

Last Updated Time

2020-12-09 05:58:57

Language Involved

--

Agreement

--

Token conversion

BTC
LTC
XRP
DASH
XMR
XLM
USDT
XEM
ETH
WAVES
ETC
NEO
ZEC
MIOTA
EOS
BCH
BNB
TRX
LINK
ADA
XTZ
REV
FIL
THETA
ZIL
HT
SNX
CEL
VET
INO
CRD
USDC
BSV
CRO
WBTC
ATOM
LEO
BUSD
DAI
HEX
XT
CCXX
IZE
YFI
DOT
UNI
AAVE
DYDX
/
USD
AUD
BRL
CAD
CHF
CLP
CNY
CZK
DKK
EUR
GBP
HKD
HUF
IDR
ILS
INR
JPY
KRW
MXN
MYR
NOK
NZD
PHP
PKR
PLN
RUB
SEK
SGD
THB
TRY
TWD
ZAR
AED
BGN
HRK
MUR
RON
ISK
NGN
COP
ARS
PEN
VND
UAH
BOB
ALL
AMD
AZN
BAM
BDT
BHD
BMD
BYN
CRC
CUP
DOP
DZD
EGP
GEL
GHS
GTQ
HNL
IQD
IRR
JMD
JOD
KES
KGS
KHR
KWD
KZT
LBP
LKR
MAD
MDL
MKD
MMK
MNT
NAD
NIO
NPR
OMR
PAB
QAR
RSD
SAR
SSP
TND
TTD
UGX
UYU
UZS
VES

Current Rate0

Available

0.00USD

Calculate

Historical Price

Introduction

Markets

3H

-1.91%

1D

-4.25%

1W

-4.95%

1M

+18.13%

1Y

-2.19%

All

+160.47%

Aspect Information
Short Name LRC
Full Name Loopring
Founded year 2017
Main founders Daniel Wang, Jay Zhou, Johnston Chen
Support Exchanges Binance, OKEX, Coinbase, Huobi Global, Kucoin, Bittrex, Poloniex, HitBTC, Kraken and Bitfinex
Storage wallet The Loopring Wallet
Customer Support Medium: https://medium.com/loopring-protocol, Twitter: https://twitter.com/loopringorg, Discord: https://discord.com/invite/KkYccYp, YouTube: https://www.youtube.com/c/loopring

Overview of LRC

Loopring (LRC) is decentralized finance (DeFi) of Loopring that was established in 2017. It was founded by Daniel Wang, Jay Zhou, and Johnston Chen. The protocol is intended to provide traders and investors with automated trade execution systems which protect members involved against counterparty risk and reduce the cost of trading. Loopring supports trading across the Ethereum, EOS, and NEO blockchains.

To obtain more information, you can visit their website:https://loopring.org/#/ and try to log in or register to use more services.

LRC's homepage

Pros and Cons

Pros Cons
Decentralized and open-source Relatively high potential risk in a volatile market
Provides automated trade execution systems Dependency on Ethereum blockchain for functionality
Protection against counterparty risk Market adoption and acceptance still in early stage
Reduction in cost of trading Competition with other decentralized exchanges
Supports trading across multiple blockchains Lesser-known outside of the crypto community
Supported by various exchanges Can face regulatory uncertainties

Pros of LRC Token:

1. Decentralized and open-source: Loopring is a decentralized and open-source protocol. This means it doesn't rely on a central authority and its code is openly available for anyone to review. This openness can lead to more transparency and trust in the system.

2. Automated trade execution systems: Loopring provides automated trade execution systems. These systems can be programmed to execute trades based on specific criteria, potentially saving traders significant amounts of time.

3. Protection against counterparty risk: Counterparty risk is the risk that a party in a transaction will default on their contract obligations. Loopring's protocol protects against this risk.

4. Reduction in cost of trading: By using Loopring's protocol, traders have the potential to experience a reduction in their trading costs.

5. Supports multiple blockchains: Loopring supports trading across multiple blockchains. This gives its users more options and flexibility for their trading activities.

6. Supported by various exchanges: LRC is supported by several major cryptocurrency exchanges. This means it is relatively easy for users to buy and sell LRC.

Cons of LRC Token:

1. Volatile market risks: Crypto markets are known for their volatility and LRC is no exception. The token's value can fluctuate wildly, leading to potential losses for traders.

2. Dependency on Ethereum: While LRC supports multiple blockchains, it does have a dependency on the Ethereum blockchain for its functionality. This dependency could be a disadvantage if there are ever problems with the Ethereum network.

3. Early-stage market adoption: While Loopring is growing, it is still in the early stages of market adoption. This means there's a degree of uncertainty about its future.

4. Competition: The market for decentralized exchanges is competitive. Loopring is up against several other similar platforms for market share.

5. Limited recognition: Outside of the crypto community, LRC and its associated platforms are relatively lesser-known. This lack of recognition could potentially limit its growth.

6. Regulatory uncertainties: As with all cryptocurrencies, LRC and the Loopring platform could face regulatory uncertainties in the future.

Crypto Wallet

The Loopring wallet offers several key features. Firstly, it functions as an Ethereum wallet, enabling users to securely store, send, and receive Ethereum (ETH) and other Ethereum-based tokens. Additionally, the wallet leverages Layer 2 technology, specifically implementing Loopring's ZKRollup, to address Ethereum's scalability issues and facilitate faster, cheaper transactions in comparison to the main Ethereum network. Moreover, the wallet integrates advanced trading functionality, catering to both casual and experienced traders by offering features such as limit orders, stop-loss orders, and market orders. Furthermore, it provides “Earn” products, allowing users to generate passive income through staking, liquidity pools, and other DeFi features. The wallet emphasizes its security measures, including smart contract management, although users should maintain awareness of potential risks.

Users can download the Loopring wallet through two main avenues. Firstly, through the mobile app available on the Google Play Store for Android devices or the Apple App Store for iOS devices. Secondly, by accessing the Loopring website at https://loopring.io/ and following the designated instructions for downloading the desktop app based on the user's operating system (Windows, macOS, or Linux).

Crypto Wallet.png

What Makes LRC Unique?

Loopring (LRC) presents several innovative solutions differing from other cryptocurrencies mainly due to its decentralized protocol for automated execution of trades. Loopring's protocol pools together orders sent to its network and matches these different orders off-chain. It allows everyone to build a high-throughput and non-custodial order book-based exchange, differentiating it substantially from typical on-chain DEXes.

It is interoperable, with the ability to support multiple blockchains, contrasting with many other cryptocurrencies that are limited to their specific blockchain. This feature enables users to trade across Ethereum, EOS, and NEO blockchains. Hence, it adds a layer of flexibility and options for traders.

Another distinguishing feature of Loopring is its focus on minimizing counterparty risk. The protocol ensures that traders retain custody of their tokens until settlement. This architecture adds a layer of security for users and reduces the dependence on intermediaries.

How Does LRC Work?

LRC tokens are the utility tokens of the Loopring protocol. Loopring is a decentralized exchange (DEX) protocol that allows users to trade cryptocurrencies without the need for a central intermediary. LRC tokens are used to pay for transaction fees on the Loopring protocol and to participate in the governance of the protocol.

Here are some of the ways that LRC tokens work:

  • Transaction fees: LRC tokens are used to pay for transaction fees on the Loopring protocol. The transaction fees are used to incentivize node operators to run the network and to pay for the development of the protocol.

  • Governance: LRC token holders can participate in the governance of the Loopring protocol by voting on proposals to change the protocol. LRC token holders can also earn rewards for staking their tokens and participating in governance.

  • Staking: LRC token holders can stake their tokens to earn rewards and to help secure the network. Staked tokens are locked up for a period of time and cannot be traded or used to pay for fees.

Market & Price

Coin airdrop

The circulating supply of LRC tokens is 1.37 billion tokens. This means that there are 1.37 billion LRC tokens in circulation that can be traded or used to make payments. The circulating supply of LRC tokens is limited to the maximum supply of LRC tokens, which is 1.375 billion tokens. This means that the supply of LRC tokens cannot be increased without first going through a governance process to increase the maximum supply.

Price of LRC

As of today, February 6th, 2024, LRC is trading at around $0.22, which is a 1.01% increase in the past 24 hours.

Exchanges to Buy LRC

Loopring (LRC) is supported by a number of major cryptocurrency exchanges across the world that allow buying, selling, and trading the token. Please note that the exact currency pairs may vary and should be confirmed on the exchange. Below are ten exchanges where LRC can typically be found:

1. Binance: Offers a wide range of LRC trading pairs, including LRC/USDT, LRC/BTC, LRC/ETH, and LRC/BNB.

Step
1 Register for a Binance Account and Complete ID Verification
2 Choose How to Buy Loopring (LRC)
A. Credit Card and Debit Card
- How to Buy Crypto with Credit/Debit Card on the Binance Website
- How to Buy Crypto with Credit/Debit Card in the App
B. Bank Deposit
- How to Deposit USD via SWIFT
C. Third Party Payment
3 Check Payment Details and Fees
4 Store or Use Your Loopring (LRC) in Binance

See this link for details on how to buy ENJ: https://www.binance.com/en/how-to-buy/loopring

2. OKEX: Also offers LRC trading pairs with major cryptocurrencies, including LRC/USDT, LRC/BTC, and LRC/ETH.

3. Coinbase: An exchange recognized for its user-friendly interface suitable for beginners. Provides trading pairs such as LRC/USD and LRC/EUR, and also pairs with other cryptocurrencies like Bitcoin.

4. Huobi Global: Supports LRC trading with several major cryptocurrencies, such as LRC/USDT, LRC/BTC, and LRC/ETH.

5. KuCoin: An exchange that hosts a wide array of cryptocurrencies including LRC. It offers pairs like LRC/USDT, LRC/BTC, and LRC/ETH.

KuCoin

6. Bittrex: On Bittrex, users can trade LRC with USDT, BTC, and ETH.

7. Poloniex: Also supports a broad selection of LRC-based trading pairs, including but not limited to LRC/USDT, LRC/BTC, and LRC/ETH.

8. HitBTC: Allows users to trade LRC with BTC, ETH and USDT.

9. Kraken: A reliable exchange where you can trade LRC against other cryptocurrencies and fiat currencies including LRC/USD and LRC/EUR.

10. Bitfinex: Offers LRC trading pairs with USD, BTC, and ETH.

How to Store LRC?

Loopring (LRC) is an ERC-20 token, which means it can be stored on any wallet that supports this standard of Ethereum-based tokens. Loopring Wallet can store LRC. The Loopring Wallet is a mobile smart contract wallet built on Ethereum, featuring integrated Loopring zkRollup technology. It stands out as the inaugural smart wallet application to incorporate L2 scaling, offering a secure, user-friendly, and robust Ethereum experience on mobile devices. Users can seamlessly engage in activities such as swapping on the automated market maker (AMM), participating as a liquidity provider, trading on the order books, investing and earning in decentralized finance (DeFi), and sending gas-free payments to individuals worldwide, all with the convenience of a simple tap.

Is It Safe?

Loopring's L2 technology offers a high-speed and cost-effective platform for trading, swapping, providing liquidity, and making payments, all while maintaining the robust security of the Ethereum network. The protocol prioritizes the security and independence of user assets above all else. By implementing the zkRollup protocol on Ethereum, Loopring ensures the utmost security and accessibility for users to interact with their assets under any circumstances.

It is impossible for any individual, organization, or governing body to intervene between a user and their Ethereum-based assets while using Loopring. Furthermore, Loopring's security is underpinned by a 100% reliance on Ethereum-level security guarantees, without external validators, consensus mechanisms, or cryptoeconomic assumptions. The protocol exclusively leverages Ethereum and Zero Knowledge cryptography, ensuring that all actions adhere to protocol specifications or are simply rendered impossible. Ultimately, Loopring's approach engenders an environment where user assets remain highly secure and beyond compromise.

Is It Safe?.png

How to Earn LRC?

- Staking: Similar to mining, staking involves locking up your LRC to support the network's security and validate transactions. In return, you earn rewards in the form of additional LRC. Several platforms offer LRC staking, each with varying lock-up periods and rewards rates.

- Liquidity Providing: Many DeFi (decentralized finance) platforms offer rewards for providing liquidity to their pools. You can deposit your LRC and other supported tokens into these pools, facilitating trading and earning a portion of the trading fees as passive income.

- Affiliate Programs: Loopring itself and other related services might offer affiliate programs where you earn LRC for referring new users. Promote these services and attract new users to earn rewards.

- Play-to-Earn Games: Some blockchain-based games reward players with LRC for participating in the game's economy. This can involve completing tasks, battling other players, or contributing to the game's development.

- Content Creation & Curation: Loopring's own social media platform, LoopringDao, reward users for creating and curating valuable content with LRC tokens.

- Trading: You can trade LRC on cryptocurrency exchanges against other currencies. Buying low and selling high can potentially yield profits, but remember, trading involves inherent risks and requires careful market analysis.

Conclusion

Loopring (LRC) is an innovative open-source protocol for automated execution of trades in a decentralised manner. Founded in 2017, it has introduced an off-chain order matching and on-chain settlement system to propel efficiency and liquidity in the market. It is interoperable and supports multiple blockchains, giving its users more options and flexibility for their trading activities.

On the development front, the Loopring team continues its effort towards expanding and enhancing the protocol's capabilities. However, the competition in the field of decentralized exchanges is intense, which may affect its adoption rate.

FAQs

Q: What type of token is Loopring (LRC)?

A: Loopring is an open-source, decentralized cryptocurrency token built on the Ethereum platform.

Q: Can LRC be stored in any wallet?

A: As an ERC-20 token, LRC can be stored on any wallet that supports this Ethereum-based standard.

Q: Is LRC available on major cryptocurrency exchanges?

A: Yes, Loopring (LRC) is tradable on several major exchanges including Binance, OKEX, and Coinbase.

Q: Does Loopring offer interoperability across different blockchains?

A: Yes, Loopring provides interoperability by supporting trading across multiple blockchains, including Ethereum, EOS, and NEO.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

15 ratings

Participate in evaluation
Araminah
Loopring (LRC): A protocol for building decentralized exchanges.
2023-10-14 13:35
3
FX1807509641
So disappointing! The liquidity of the token 路印协议 is really bad, reflecting lazy developers! Ck!
2024-02-27 06:08
7
zeally
LRC" typically refers to Loopring, a decentralized exchange (DEX) protocol built on the Ethereum blockchain. Loopring enables users to trade cryptocurrencies directly from their wallets while maintaining control over their funds. It uses a combination of on-chain and off-chain components to provide a secure and scalable decentralized trading experience.
2023-12-19 13:37
2
CJ002
LRC (Loopring) - Decentralized exchange and protocol. Innovative technology, but needs to gain more mainstream adoption.
2023-12-21 15:54
6
Dan3450
Loopring (LRC) is a digital currency functioning within the Ethereum blockchain. Its purpose is to act as a decentralized automated system for executing transactions, enabling the exchange of cryptocurrencies between platforms without the need for trust, ensuring security, and operating without custodial control.
2023-11-27 15:41
3
Ufuoma27
Loopring (LRC) is a cryptocurrency that operates on the Ethereum blockchain. It is associated with the Loopring Protocol, which aims to facilitate the decentralized exchange of cryptocurrencies. Loopring allows users to trade digital assets without relying on a centralized exchange, thereby enhancing security and reducing counterparty risk.The Loopring Protocol is designed to enable the creation of decentralized exchanges (DEX) and supports various trading pairs.
2023-12-19 22:37
8
leofrost
Loopring (LRC) is a decentralized exchange (DEX) protocol built on the Ethereum blockchain. It aims to provide a secure and scalable solution for decentralized trading. The Loopring protocol enables users to trade assets directly from their wallets while maintaining custody of their funds. LRC, the native utility token, plays a role in governance, liquidity mining, and fee discounts within the Loopring ecosystem. The project focuses on improving the efficiency of decentralized trading and reducing the costs associated with traditional exchanges. Monitoring Loopring's protocol upgrades, partnerships, and user adoption can offer insights into the ongoing significance of LRC.
2023-11-30 22:16
6
Windowlight
LRC is the native token of the Loopring protocol, a decentralized exchange. It's used for governance, protocol fees, and liquidity incentives.
2023-12-22 04:05
2
Windowlight
Loopring's focus on layer-2 scaling solutions for decentralized exchanges addresses the scalability challenges of blockchain networks, positioning LRC as a project with long-term viability.
2023-12-22 00:35
5
FX1122377873
As a cryptocurrency enthusiast, I think Loopring Protocol (LRC) takes an innovative approach to technology. Transaction fees are relatively low, but liquidity is temporarily lacking. Trading with it needs to be improved.
2023-12-17 06:23
4
Dazzling Dust
The Loopring protocol is designed to preserve the advantages of decentralized exchanges while mitigating or eliminating their inefficiencies through innovative hybrid solutions. This strategic approach aims to combine the strengths of decentralization with novel solutions to enhance efficiency, offering a more optimized and seamless trading experience within the blockchain ecosystem.
2023-11-29 12:42
6
Dory724
Loopring focuses on layer 2 scaling solutions for Ethereum, enhancing its scalability. With a strong team and commitment to interoperability, LRC has potential. However, adoption challenges persist in the competitive DeFi space.
2023-11-28 23:07
3
FX1022619685
The Luobi application interface is quite good, easy to use, unfortunately their customer support takes a long time to respond.
2023-10-13 14:21
3
Jenny8248
It aims to enable the efficient and secure exchange of various cryptocurrencies without the need for a centralized intermediary.
2023-12-05 20:19
5
Ochid007
$ LRC back to 3 $ we go ! Bull market confirm LFG
2023-10-29 14:35
5