Loopring to Sunset DeFi Products by July 31

Loopring has announced the shutdown of all its DeFi products by July 31, 2025. This strategic decision is intended to allow the team to fully dedicate its efforts to developing a scalable and truly decentralized Layer 2 infrastructure.

LRC Info

Loopring is an Ethereum-based decentralized exchange (DEX) protocol that aims to combine the advantages of centralized and decentralized platforms, providing the user with high liquidity and trading security.

The core principle of Loopring is a combination of off-chain order matching and on-chain settlement. While orders are matched off-chain, the final settlement of trades is made directly on the Ethereum blockchain, thus ensuring the transparency and security of every transaction.

LRC, the native ERC-20 token of the Loopring protocol, performs a number of key functions in the ecosystem. It is primarily used to pay transaction fees on the Loopring network. LRC can also be used for staking in order to receive a part of the commission from the protocol’s income.