Loopring (LRC)

$0.117231 (21.81%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
64 $130,305,000.00 $19,758,900.00 1,111,530,000 LRC -- 21.81% -6.31% -$25.57

Exchange Pair Volume (24h) Price
Binance LRC/BTC 1,943,228.00 0.0000129000
Binance LRC/USDT 1,235,255.00 0.1176000000
OKEx LRC/BTC 1,750,426.00 0.0000128000
BKEX LRC/USDT 512,131.00 0.1167700000
Bithumb LRC/KRW 366,209.00 140.4000000000
AEX LRC/CNC 504,888.00 0.8190000000
Loopring LRC/ETH 223,316.00 0.0005060000
OKEx LRC/ETH 692,357.00 0.0005030000
Gate.io LRC/USDT 229,662.00 0.1184600000
Binance LRC/ETH 279,780.00 0.0005058500
Loopring LRC/USDT 239,063.00 0.1172000000
Bilaxy LRC/BTC 299,525.00 0.0000128900
Uniswap (v2) 0XBBBBCA6A901C926F240B89EACB641D8AEC7AEAFD/ETH 87,380.00 0.0005064365
Binance LRC/BUSD 71,369.00 0.1175700000
Gate.io LRC/ETH 18,085.36 0.0005050000
Gate.io LRC/BTC 9,845.86 0.0000129000
Bittrex LRC/BTC 7,187.70 0.0000130500
Atomars LRC/ETH 43,398.00 0.0005056900
Atomars LRC/USDT 7,952.38 0.1169500000
VCC Exchange LRC/BTC 7,784.86 0.0000130500
Atomars LRC/BTC 6,450.62 0.0000128100
Livecoin LRC/BTC 216.52 0.0000126800
OKEx LRC/USDT 9,424,224.00 0.1171000000
Bitrue LRC/BTC 1,073,203.00 0.0000128800
HitBTC LRC/BTC 6,134.66 0.0000128910
Bitrue LRC/ETH 14,732.16 0.0005060000
HitBTC LRC/ETH 721.47 0.0005041280
CoinEx LRC/USDT 375,061.00 0.1176000000
DragonEx LRC/USDT 205,434.00 0.1176000000
Omgfin LRC/ETH 50,089.00 0.0005113700
Omgfin LRC/BTC 71,285.00 0.0000129300
Omgfin LRC/USDT 118,223.00 0.1172900000
Dex-Trade LRC/ETH 108,547.00 0.0005044200
AlterDice LRC/ETH 44,036.00 0.0005086700
Poloniex LRC/BTC 1,343.47 0.0000129800
Dex-Trade LRC/BTC 356,186.00 0.0000128300
CoinEx LRC/ETH 154,687.00 0.0005079300
CoinEx LRC/BTC 153,619.00 0.0000129488
Dcoin LRC/USDT 124,828.00 0.1178740000
Poloniex LRC/USDT 1,718.08 0.1161561800
ZG.TOP LRC/USDT 82,814.00 0.1172740000
Yunex.io LRC/USDT 34,739.00 0.1169000000
Kyber Network LRC/ETH 30,490.00 0.0005096883
Balancer LRC/ETH 10,851.21 0.0005027172
Uniswap (v1) LRC/ETH 82.96 0.0005202715
Hoo.com LRC/USDT 315,172.00 0.1188000000
Hoo.com LRC/ETH 226,946.00 0.0005082700
OKEx Korea LRC/BTC 25.11 0.0000133400
OKEx Korea LRC/USDT 15,850.21 0.1235000000
OKEx Korea LRC/ETH 4.42 0.0005270000
Bitfinex LRC/BTC 2,936.01 0.0000124000
BitBNS LRC/INR 1,401.24 9.9900000000
Upbit LRC/BTC 129.74 0.0000126000
Bitfinex LRC/USD 151.26 0.1146400000
YoBit LRC/WAVES 1.48 0.0221000000
YoBit LRC/DOGE 0.11 15.0770644000
Upbit Indonesia LRC/BTC 8,319.89 0.0000126000
Balancer LRC/USDC 128.51 0.1221779179
Balancer LRC/DAI 85.23 0.1275289534
YoBit LRC/BTC 3.15 0.0000038700
YoBit LRC/RUR 0.02 1.3596362800
YoBit LRC/ETH 0.66 0.0000769300
YoBit LRC/USD 0.12 0.0286665900

Links


Background

Loopring is an open protocol for decentralized token exchange. Like other decentralized exchange (DEX) protocols, its primary objectives include reducing user reliance on centralized exchanges or other trusted third parties, and enabling global liquid markets. Loopring protocol pursues this by incentivizing ecosystem participants to perform exchange functions in a decentralized manner, with trades processed by non-custodial smart contracts. The protocol can be utilized to build DEXs, or integrated by any DApp that incorporates token exchange functionality. Although blockchains inherently provide trustless trading, there are problems with building exchanges purely on-chain. Specifically, processing speed, throughput, and computation costs. Performing all exchange steps on-chain can be prohibitively expensive, or impossible to emulate centralized exchange speed and performance. For these reasons, Loopring, operates a hybrid model with off-chain order management and communication and on-chain transaction and settlement. The team hopes this will optimize for performance and flexibility of orders while executing the critical settlement step on-chain in public smart contracts. This is similar to other DEX protocols, such as 0x, but Loopring offers some novel solutions, such as order-rings, and dual-authoring. Instead of having to deposit tokens on a centralized exchange, users maintain control of their funds and trade directly from wallets. Loopring is blockchain agnostic and plans to operate on all feasible large public blockchains with smart contract capability. Their approach is to modify the Loopring protocol to fit specifically on top of public chains and allow their respective native token standards to be traded. Loopring was first deployed on Ethereum to trade ERC20 tokens, and uses its LRC token to operate. It has also adapted to deploy on top of NEO (LRN), and on top of QTUM (LRQ). These tokens are used as payment to incentivize ecosystem participants, like miners and wallet providers, to operate the network.

Technology

Loopring structures trade orders in what is called a unidirectional order model (UDOM). In this format, trades are formatted as “exchange requests”, where there is no price a common currency, but instead an exchange of tokens. For example a quote could be presented as amount X of token one for amount y of token two. Using this structure Loopring is able to create an order-ring matching system that allows disparate trading pairs to be stitched together in circular trade. Orders can be mixed across assets without needing to directly find an order for the same pair. This can remove the need to use common base pairs like bitcoin or ether while potentially increasing the liquidity as the set of potential counterparties is expanded. Up to 16 orders can be included in such an order-ring. The overall network is formed by wallets, a relay-mesh blockchain, relays and ring miners, smart contracts, and asset tokenization services. Each of these actors performs a separate function of the exchange process, and are incentivized to do so by receiving the utility token, LRC. The exchange process is as follows: 1) Users initiate an exchange order from their own wallets which have the Loopring protocol implemented (i.e. the ability to send compliant orders to the network). 2) The order is sent to a mesh network of relays. 3) relays update their order books and communicate with each other to match orders. 4) Ring-miners run matching algorithms to produce order-rings and submit them to the smart contract for execution. 5) Loopring protocol smart contracts execute the trade atomically, swap the traders’ tokens, and pay fees to wallets and relayers for their services. Another technology offered by Loopring aims to solve the issue of possibile front running. Front running in decentralized exchanges happens when someone (normal user or miner) sees a pending exchange transaction in the underlying blockchain’s mempool, and tries to ‘get in front’ of it by creating their own equivalent order with a higher gas fee. Through a technology called Dual-Authoring , Loopring structures orders with a second set of signatures, producing unique hashes, and making certain that single orders and full order-rings cannot be stolen. By building the protocol and distinct tokens on each chain, Loopring allows for the respective native blockchain-based assets to be traded freely and trustlessly. This approach is in contrast to other DEX protocols that are not actively deploying on multiple chains, or rely or plan on relying on cross-chain atomic swaps. Loopring offers ecosystem participants flexibility in how they choose to operate in their roles. Relays can structure their order book however they see fit, can communicate with whichever other relays they choose (or none), and can interact with wallets in novel ways. As such, Loopring wants to allow network members to operate the best and most profitable ‘business models’ to please users.



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