Loopring is a blockchain-based project developing a decentralized exchange (DEX) protocol that lets its users exchange crypto assets across various platforms. Launched by Daniel Wang on August 1st, 2017, this open-source protocol is free to use and available for developers all around the world. Loopring is blockchain-agnostic and targets to become compatible with all blockchain-based platforms that support smart contracts.
Loopring is not a decentralized exchange by its nature, although it may look like one at first glance. Its key goal is to connect different exchange platforms including decentralized ones and to facilitate the process of value exchange between them. Loopring is not the first project with such goals, but it’s the only one with such global goals. Among its closest competitors are Bancor, Waves, 0x, Kyber Network and EtherDelta.
At the time of writing, Loopring is compatible with Ethereum, Qtum, and Neo. While the key token fueling the protocol bears the ticker LRC, the one used on the NEO-based version is named LRN.
LRN was distributed among LRC holders via a series of airdrops on July 5, 2018, September 5, 2018, and on November 5, 2018. As each airdrop made up 20% of the total supply, 60% of tokens were distributed in total. Initially, the total supply of LRN was equal to 10% of LRC. The participants of the airdrop received LRN at a ration 100LRC : 2 LRN. Such a disbalance is explained by a smaller supply or LRN.
LRN is a NEP-5 utility token and can be stored on any NEO-compatible wallet such as Neon or Ledger Nano S. It is listed on a few small exchanges such as Gate.io and DragonEx.Read More