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A Scalable ZKrollup Exchange Protocol.
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Loopring aims to build an open protocol for scalable, non-custodial, orderbook-based exchanges on Ethereum by leveraging zero-knowledge proofs.
The project team claims that with zkRollup, Loopring 3.0 can settle up to 2,025 trades per second, while guaranteeing the same level of security as the underlying Ethereum blockchain.
loopring.io currently provides 4 trading pairs: LRC/ETH, ETH/DAI, ETH/USDT, and USDT/DAI.
All LRC holders can stake LRC to earn part of the protocol fees paid by all exchanges built on top of Loopring. Loopring DEX owners must stake some LRC for economic security and building their reputation. The same LRC staked by a DEX owner for reputation will also reduce the protocol fee the DEX must pay for each trade.