Loopring (LRC): The Next Decentralised Exchange Protocol
Loopring is developing a decentralised exchange (DEX) protocol which will allow users to exchange assets across a whole host of different exchanges / nodes. Unlike many other decentralised exchanges, Loopring will make users and other centralised exchanges all part of the Loopring network.
Loopring makes use of some pretty advanced technology including ring miners, order rings and order sharing. Loopring hopes that the protocol will allow users to transact across ERC20 chains much more quickly and securely than is done on centralised exchanges. Loopring was built on top of the Ethereum blockchain and makes use of smart contracts and atomic swaps between addresses.
Loopring was launched in China by a team that has experience in online exchanges, consulting and financial services. They completed an ICO in August of 2017 and were able to raise a total of $45m in exchange for the LRC tokens. LRC is an ERC20 standard token and can be stored on any compatible wallet.
Loopring is not without competition as they have a DEX protocol that is similar to that of 0X (ZRX). The main difference between these DEX protocols is that Loopring allows anyone to run a node on the exchange network whereas 0x gets its liquidity from centralised exchanges.
In terms of the LRC tokens themselves, they were listed on a number of exchanges not long after the ICO in 2017. They followed the rest of the market in the bull run at the end of 2017 and the subsequent bear market that followed. Price volatility for LRC tokens is less pronounced than other tokens with similar market caps. Although the bulk of the volume is in Korean won, there is healthy liquidity for LRC across a range of over 10 different exchanges.