Loopring (LRC)

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Official site (website): https://loopring.org/ Official Twitter account: https://twitter.com/loopringorg Github: https://github.com/loopring Forum Chat: https://loopring.rocket.chat/ Medium (blog, article, news): https://medium.com/@loopring Explorer: https://etherscan.io/token/0xEF68e7C694F40c8202821eDF525dE3782458639f Explorer: https://ethplorer.io/address/0xef68e7c694f40c8202821edf525de3782458639f Discussion forum: https://bitcointalk.org/index.php?topic=2069498 PDF document file: https://github.com/Loopring/whitepaper Support email address: mailto:foundation@loopring.org CoinMarketCap (coin market cap): https://coinmarketcap.com/currencies/loopring/ Alexa website traffic ranking: https://www.alexa.com/siteinfo/loopring.org

Truth and facts[edit]

  • Loopring is a decentralized exchange and open protocol.
  • Loopring is a protocol for ERC 20 token exchange, which combines the offline off chain order book and an unchain settlement protocol smart contract.

Features

  • Reduced Counterparty & Exchange Risk: Loopring does not require members to send tokens to exchanges for custody. Tokens always remain in their blockchain addresses during the whole transaction life cycle Members can even transfer their tokens around after orders are submitted - Loopring will automatically adjust trading amount at the initial price. Loopring protects members from threats such as exchange bankruptcies and DDOS.
  • Decentralized: Orders are automatically executed while trade’s funds remain under their control in a decentralized smart contract on the blockchain.
  • Order Sharing: Loopring mechanism allows to order break into small pieces, identifies the best exchanges and times to trade those pieces on, and applies game theoretic logic to optimize trading results. Loopring can also well protect trading from DDOS attack.
  • Ring-Matching: Loopring is a decentralized, automated trading intelligence interfaces between crypto exchanges and blockchains, using our balance sheet to enable users to realize liquidity many times greater than available directly in the market, by both generating liquidity within the platform and breaking orders into small pieces that are placed across all market venues simultaneously.
  • Cross-chain protocol: Loopring was designed to be blockchain agnostic. As long as a blockchain has smart-contract support, Loopring can be implemented, and all ERC20-like tokens on such a blockchain can be traded under Loopring.

Official

  • Loopring (LRC) is based in Shanghai, China.

Token

  • Slogan: The protocol for future decentralized exchanges.
  • The official ticker symbol for Loopring token: LRC
  • Token type: ERC20
  • Total token supply: 1,395,076,054 LRC
  • Circulating Supply: 62,366,926 LRC

ICO

  • ICO from 1 Aug 2017 to 16 Aug 2017.
  • Soft cap: 50,000 ETH.
  • Hard cap: 120,000 ETH.

Video Playlist[edit]

Loopring CEO Interview - Daniel Wang

00:00 Welcome to the show everybody, super excited to have with us today, Daniel, Daniel is the CEO over at loopring, of course one of the hottest projects out there at the moment, Daniel welcome to the show.
00:12 Thank You, Alaric and we're glad to be here.
00:15 So for anyone who hasn't heard about loopring yet, can you tell us just quickly what is loop ring and what do you do?
00:24 Sure, a loop ring is a protocol for ERC 20 token exchange, which combines the offline off chain order book and an unchain settlement protocol smart contract.
00:39 So is a protocol that can be deployed on top of Ethereum, as well as other public block chains, as long as they are capable of running smart contract and they have some token standard.
00:53 Okay great, so this this would apply across most block chains then.
00:56 Yes, but I have to clarify one thing, many people didn't read the white paper, they think loop ring is a cross chain protocol which is not true.
01:08 We are really interested in digging into this direction of research, we have a partner that we will announced in probably January with a very famous University, with a professor who is also very well known in this block chain crypto area, so we are going to do some research over there.
01:34 But right now for the first version, I think we're going to focus on just one single chain to facilitate all the tokens trading with each other and not cross chain.
01:46 Cross chains art and a lot of people are trying to make that happen, but in chain okay, cross chain that's kind of the the the golden standard for what is.
01:59 Sorry, that problem takes more than one team you know to accomplish.
02:07 That's it, so with the with the loop ring protocol, you'll be able to exchange Ethereum and ERC 20 tokens, you'll be able to exchange NEO and other NEO based tokens, you'll be able to exchange for example NEM and NEM based tokens.
02:20 Do you have any, will you be able to operate on the NEM blockchain?
02:26 Not, I cannot tell right now, that our first priority is still Ethereum because it has the biggest ecosystem right, they have a lot of tokens.
02:40 And we are going to implement loopring on top of neo and quantum as the second step, maybe starting from January.
02:52 If we have bandwidth, we are going to explore maybe EOS, some other blockchains but it depends really depends on you know how much work we can.
03:07 Yeah absolutely, there's only so much time in the day of course, fantastic.
03:11 Now can you tell us exactly how does the LRC token work, what is the utility of it?
03:18 LRC is going to be used as a fee to pay for the miners, the ring miners, not Ethereum note miners.
03:30 So there are two ways to pay the ring miners, the first one is used LRC as a constant percentage of the value of the entire outer right.
03:43 The second one is called a margin slate, if you submit order and the ring miner finds the other order that can fulfill your order with a better price and you can buy more target token or you can save more with your buying token right, and then you can split this saving cost saving, all the profit with them.
04:09 So in that case you don't have to pay LRC and actually you will LRC because the miners will pay you the other submitter pay they're paid on the LRC to buy the right to get the right displayed.
04:27 So during a trade, LRC is going to be paid this way or the other way around, so it's also going to increase the liquidity.
04:37 Very cool, and I think that's really good to note as well, there are opportunities to earn with the coin as well, so it's not just you know something that you hope the value goes up over time of but actually there are ways to earn with loopring too.
04:51 Now can you tell us a bit about the beta and what's going on with that?
04:56 We almost put all the features in the beta right now.
05:04 So let me say we have something that is not going into the beta, which is the support for the ERC 23 standard, that one is going to be in the 2.0 release.
05:19 So the release 1.0 is going to be how full support for ERC 20.
05:22 We are going to officially deploy this 1.0 version maybe at the beginning of the next month, so we are going to release a new version this weekend, the beta 4 release.
05:40 One week later and most two weeks later, the final 1.0 release version is going to be there.
05:45 So lots of things happening, the development is moving forward and that is very cool, that's very cool, it's very exciting to see projects where things are happening all the time, it's very exciting indeed.
05:59 Now there's a lot of talk on the reddit boards and across social media in general, if everyone just says you know loopring, neo, what's the connection, can you tell us a little bit about what your connection is with the guys over at neo if there is any connection at all?
06:16 Yes, I think we have a very good relationship.
06:20 I know Da Hong Fei, the founder of neo, even before he founded this great project.
06:27 So at that time he's called engineer or something like that.
06:31 So we talked a lot during that time.
06:35 I also had my own a company called a coin part, which is a centralized exchange right, this is like a Bittrex.
06:45 So I know him pretty well and I like it very much, I like this conversation.
06:50 Personally, I really enjoy you know I really enjoy talking with Da Hong Fei and his team.
06:57 We share a lot of common belief, even the looping project is also inspired by some ideas that Da Hong Fei had.
07:13 Professionally, I think we are going to have a very strong partnership but I cannot tell much of the details because we are still figuring out the details.
07:24 And I think it's a good idea for neo to have multiple protocols deployed on top of it right, because you cannot just say this one is the officially one, that that one is not the official or not supported bad team.
07:41 As the ecosystem, I think Neo needs some competition in any area right, protocol, dApps.
07:48 We think we are going to be doing really well on top of Neil.
07:56 And I think Neil is very unique with this Chinese background, this huge market, it has a lot of potentials.
08:06 Very cool, very cool, I think there's a really great development space going on around those different projects and your project and what neo is doing, other projects around there, so I think there's a really cool meeting of minds happening and I think it's great that you're involved with the guys over at neo.
08:29 But the important thing is, like you said, it's a protocol.
08:32 Loop ring can go on top of neo, can go on top of Ethereum, not that you're putting all of your cards on one blockchain by any means, that's what's great about loop ring, it's a protocol it's not a solution for just one thing, you could go to many different places.
08:50 Yeah, we have a strategy of not only implementing looping on top of one blockchain, our strategy is to implement it to implement block protocol on top of the top 5 to 10 block chains.
09:06 So in the long run, you know Ethereum is the best one for now right, but who knows which is the most successful blockchain in failures.
09:15 So as a protocol, you need to you know get less risk right.
09:24 Now your protocol will allow for the basically decentralized exchange of assets, have any exchanges actually come forward and said we want to be involved with you yet or are are you in talks with any exchanges at the mod, I know of course can't mention a names but is that something that's kind of going on in the background?
09:48 Yes, there are several exchanges, they have expressed their interest in loopring and they are trying to explore this protocol.
09:56 They invited me to talked to their team and there is a big one, a big one you know, in the list.
10:05 But the hammer is said to me that they really got to do this because we have to time our capability, we have to time that this protocol can be used with our own wallet right, to make them you know to make them believe that this is really ready for production use.
10:28 Of course, it has to be working flawlessly in order for these guys to basically put their reputations on the line as the a usable exchange that this is gonna work and the work the way they want it to work.
10:42 Yes, I think exchanges is going to be the second wave of integrate, to integrate loopring because wallet, they are going to integrate with loopring, I think much easier, much faster than the exchanges because for exchanges, they have a way of making money right.
11:00 But bonus, they don't have bihter, kaswell right now and by integrating with loopring, they provide a entry point for their users, to not only transfer money, receiving money, they can also submit order to do this trade right, and that will actually compete with exchanges, to grab the users from the exchanges to there.
11:29 So I think that's the mentality and I love that.
11:34 I think if more wallets adopt looping, then exchanges will be more waiting to talk to us or talk to other protocols right.
11:45 Very cool, it'll be really interesting to see how the space develops.
11:50 I know that for example köppen HUD and Binance, obviously both East Asian projects are not decentralized but they want to be decentralized.
12:01 So it'll be interesting to see if any partnerships happen with them or of course with any other big exchanges out there as well.
12:06 Now you're not the only protocol in the space, obviously we have 0x for example, they are working on a protocol as well, how would you say you compare with the competition?
12:21 Well first of all, I think this market is green so rapidly, it has a lot of room for more than just one protocol right.
12:31 Loopring as seen from the design perspective, from the infrastructure perspective, is more advanced than the other protocols that I have seen.
12:41 0x is very inspiring, I learned a lot from 0x design.
12:48 I think compared to loopring, 0x lacks in the ability to you know, to do automatic trades.
12:59 So you have to be online to take the counterparty order to get fulfilled right.
13:06 And if that part can be resolved, I would say 0x is going to become just like blueprints, if that product is out.
13:17 So I don't know, 0x has a advantage of, you can just hand pick orders to mass.
13:27 So this is going to be, if I know a friend, he's going to trade with me you know, we can just, we don't need a third party to be to be involved to help us to the trade, that's cool right and it's very easy to understand.
13:47 Loopring is more like solving the problems that current exchanges have.
13:53 Not everybody has a friend, yeah exactly.
13:56 So I think we are going to see, you know, who is going to win out, but we have the confidence.
14:05 I think they are three or four months ahead of us in terms of completing the ico, you know the research development, but we are working really hard.
14:17 We have 12 engineers, we have a team of 12 people and 10 of them including myself, we really are authentic to show the community what you can do with our product and our protocol.
14:34 Now I saw that you recently have struck a deal with the company called MLG blockchain, can you explain a little bit what does that partnership mean for loop ring and how's that gonna work?
14:49 As I mentioned, we have a really small team and most of the people are engineers, we have only one marketing full-time for international marketing, operation.
15:02 We have only one for China market specifically.
15:08 So we need more people to work on marketing, on operations.
15:10 But we really don't get this core team really huge.
15:16 I like small teams because the you know, the conversation is really efficient.
15:20 And from the cost perspective, I want to reduce cost.
15:26 So the idea is to partnership with other companies who are very strong in crypto area in marketing.
15:33 So we select one partner in north america, we have another partner in China with me in the future to form another partnership in Europe, in South East Asia, Korea, Japan, so that's the that's the way we are going to do operation and marketing.
15:56 Because as you know, a lot of team they have pretty good marketing team but in the long run, these people are going to leave if they make a lot of money right.
16:05 They are not going to, I mean I think any crypto project, their team is going to be sooner or later decentralized, including the development team.
16:14 So I don't want to have a very large team, several offices all over the world, you know, from the cost stuff, it's not very smart, so that's the way to go.
16:28 Very cool, very interesting actually, and the final question I want to ask today is looking forward towards the roadmap and towards future development of loopring, what is the thing that maybe makes you the most excited or that you're looking forward to the most in the future development of loop ring?
16:47 Well, that's a good question.
16:51 Actually I feel really exciting everyday.
16:54 That's a good way to go to work isn't it, I feel the same way.
16:59 If you look at the github repository, I contributed myself maybe 2/3 of the protocol code and maybe half of the wallet code.
17:12 So when I implement those features in our smart contract, you know early wallet, I just get more confidence you know, so I really enjoy this life, this work.
17:24 And next year will be more exciting, especially the first half year, I think we are going to release 2.0, the new version to support ERC 23, we are going to release or even do a small ICO for Neo or quantum, I don't know how to do that.
17:48 We are going to distribute new LRC tokens on top of other block chains which would be called LRCX, X is something extra, distribute the majority of those new tokens to current token holders.
18:03 So we have a lot of work to do and we are going to see whether this protocol will fly or not.
18:08 We don't know yet but we'll see because this crypto world is like crazy, every day is a different day right.
18:15 It's always an adventure, well that's great, Daniel, thank you so much for taking your time to talk with us, I know everyone's been really excited about.
18:28 I know you're a busy guy, so I wish you to have a lot of fun while you're over there in America, hope you're making some good partnerships and we really are gonna be watching loop ring closely for the future developments as they move forward.
18:39 Thank you Lark, thank you for our time, I'm really glad to be here.

Wallets[edit]

Exchanges[edit]

List of exchanges, trading platform and marketplaces to trade, buy and sell Loopring (LRC).

Roadmap[edit]

Date Events and Milestones
Oct 2016 Loopring concept born
Dec 2016 Ring-match concept verified
May 2017 Whitepaper published
Jun 2017 Team created; token sale planned
Aug 2017 Token sale kicked off
16 Aug 2017 Token sale concluded successfully
Nov 2017 Loopring smart contract to be released
Dec 2017 LRC original plan for listing on exchanges
Feb 2018 Open source ring-mining software
Apr 2018 Open source & launch a wallet to trade with Loopring Protocol

Team members[edit]

  • List of team members in Loopring (LRC).
Official list of team members
Name Position Details
Daniel Wang Founder, CEO

Support email address: mailto:daniel@loopring.org

  • Daniel Wang is the founder and CEO of Loopring (LRC) cryptocurrency project.
  • Google Tech Lead, Cofounder & VP of Yunrang Technology, Senior Engineering Director at JD.com, Cofounder & CEO of Coinport Exchange, Cofounder & VP of Hygene Online, Senior Director & Blockchain Researcher of Zhongan Technology.
Jay Zhou CMO E&Y, PayPal Risk Operations, SJ Consulting Founder
Johnston Chen COO Chief Information Officer at 3NOD, Product Expert in Finance Industry
Hoss Ma Chief Researcher
Freeman Zhong Architect
Leon Wang Senior Developer
Shuhong Chang Senior UI Designer
Baixiang Liu Senior Supervisor at Fudan University IT School
Chunming Liu Senior Architect
Weichao Li Architect
Xiaolu Wu Architect
Jie Wen Code, Cryptography, DTL, and Cryptography Researcher at Fudan University
Li Yang Architect

Advisors[edit]

  • List of advisors for Loopring (LRC).
Name Details
Xuefeng Li CTO of Zhongan Tech, Angel Investor (Expertise in Token Exchange and Regulation)
Da Hongfei Founder of NEO, CEO at Onchain
Hitters Xu Founder of Bitcoin Startup Camp, Blockchain Director at Ant Financial, Founder of Nebula Blockchain (Expertise in Community Operation and Public Blockchain Technology)

Backers[edit]

Loopring (LRC) backers.png

White papers[edit]

Bounty programs[edit]

Frequently asked questions[edit]

Reviews[edit]

References[edit]