Loopring
Name
Loopring
Summary
Loopring is an open protocol to build decentralized crypto exchanges.
-It was founded by Daniel Wang, and Jay Zhou in 2017
-Loopring was first launched on Ethereum to trade ERC20 tokens.
Rating
Symbol
LRC
Overview
Loopring's primary goal is to reduce user reliance on centralized exchanges or other trustworthy third parties, as well as to enable global liquid markets. Loopring aims to do this by rewarding ecosystem players to execute decentralized exchange services, with trades handled by non-custodial smart contracts.
Historical Price Movement (in INR)
Technology
It uses Zero-Knowledge (ZK) Proofs to enable anonymous and trustless transactions. ZK Proofs are a method of authenticating information without exchanging exact details.
Loopring is now available on the Ethereum and Neo blockchains, with intentions to expand to the Qtum blockchain in the future. Each network has its own coin: LRC for Ethereum and LRN for Neo, respectively; the Qtum network token will be called LRQ when it launches.
The hash functions of the underlying blockchain platforms safeguard these tokens: LRC uses Ethereum's Ethash, LRN uses Neo's SHA256 and RIPEMD160, and LRQ uses Qtum's proof-of-stake PoSv3 algorithm.
Use of Native tokens in the ecosystem:
The Loopring coin (LRC) is the native currency of the Loopring protocol, which is a blockchain-based initiative that lets developers create their own decentralized exchanges.
Investors
50%
Loopring Foundation
30%
Founding Team
20%
Volume (As of 3rd April, 2022)
$244,911,221
Total Supply
1373873440
Circulating supply
1.33B LRC
Crowd Sales
Loopring has raised a total of $45 million in two rounds of investment.
Funding
5/02/2018: Initial Coin Offering- NA
1/08/2017: Initial Coin Offering- $45M
Country
Virgin Islands, British
Name of Organization
Loopring Project Ltd
Year Incorporated
2017
Registered Address
Chambers, P.O. Box 4301, Road Town, Tortola, British Virgin Islands
Dispute Resolution and Governing Law
Virgin Islands, British
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Daniel Wang | Founder and CEO | University of Minnesota: MBA, ManagementArizona State University: Master, Computer ScienceUniversity of Science and Technology of China: Bachelor, Computer Science | 20 Yrs |
| Jay Zhou | Co-Founder and COO | Macquarie University: B.Com.UNSW: Commerce, General | 14 Yrs |
Whitepaper 
