LRC
Reputation Ratings

LRC

Loopring 5-10 years
Cryptocurrency
Website https://loopring.org
Browser
OTH RELPs
Github
White Paper
LRC Avg Price
+7.46%
1D

$ 0.1442 USD

$ 0.1442 USD

Market Cap

$ 189.122 million USD

$ 189.122m USD

24h trading volume

$ 105.896 million USD

$ 105.896m USD

7d Vol

$ 187.618 million USD

$ 187.618m USD

Circulating supply

1.3668 billion LRC

Related information

Issue Time

2017-08-31

Platform pertained to

--

Current price

$0.1442USD

Market Cap

$189.122mUSD

Volume of Transaction

24h

$105.896mUSD

Circulating supply

1.3668bLRC

Volume of Transaction

7d

$187.618mUSD

Change

24h

+7.46%

Number of Markets

373

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

--

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LRC Price Chart

Introduction

Markets

3H

-1.97%

1D

+7.46%

1W

+19.72%

1M

+18.2%

1Y

-38.86%

All

+33.19%

AspectInformation
Short NameLRC
Full NameLoopring
Founded year2017
Main foundersDaniel Wang, Jay Zhou, Johnston Chen
Support ExchangesBinance, OKEX, Coinbase, Huobi Global, Kucoin, Bittrex, Poloniex, HitBTC, Kraken and Bitfinex
Storage walletThe Loopring Wallet
Customer SupportMedium: 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.

LRC's homepage

Pros and Cons

ProsCons
Decentralized and open-sourceRelatively high potential risk in a volatile market
Provides automated trade execution systemsDependency on Ethereum blockchain for functionality
Protection against counterparty riskMarket adoption and acceptance still in early stage
Reduction in cost of tradingCompetition with other decentralized exchanges
Supports trading across multiple blockchainsLesser-known outside of the crypto community
Supported by various exchangesCan face regulatory uncertainties

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.

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.

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
1Register for a Binance Account and Complete ID Verification
2Choose 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
3Check Payment Details and Fees
4Store 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

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.

- 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.

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.

User Reviews

More

15 ratings

Participate in evaluation
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
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
Araminah
Loopring (LRC): A protocol for building decentralized exchanges.
2023-10-14 13:35
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
Ochid007
$ LRC back to 3 $ we go ! Bull market confirm LFG
2023-10-29 14:35
5