Loopring is an Ethereum Layer-2 protocol designed to enable high-speed, low-cost transactions while leveraging the robust security of Layer-1 Ethereum.
Loopring increases Ethereum’s scalability using zero-knowledge rollups, or ZK-Rollups, which “rolls” hundreds of transfers into a single transaction while relying on a smart contract to verify all transfers within the transaction.
In addition to the protocol, the Loopring ecosystem most notably features the Loopring Exchange, a decentralized exchange that allows users to trade ERC-20 tokens with low fees and fast transactions. In addition, there is the Loopring Wallet, a smart wallet that is offered as a mobile app.
- LRC is the native token of the Loopring protocol. It is used to pay for transactions on the Loopring Exchange.
- Users can stake LRC to earn token rewards and secure exchanges.
- As a “True L2”, or true Layer-2 solution, Loopring relies on the robust security of the Ethereum network, unlike sidechain projects which must feature their own security mechanisms.
- The maximum supply of LRC is approximately 1.37 billion tokens.
Please note that Binance.US only supports Ethereum (ERC-20) Loopring (LRC) token deposits and withdrawals. We will be unable to recover tokens sent to the wrong network address.
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