Loopring Description
Loopring serves as an open protocol designed for the creation of scalable non-custodial exchanges on the Ethereum network. By utilizing zero-knowledge proofs (zkRollup), it facilitates efficient trading with high throughput and low settlement fees while ensuring the robust security measures characteristic of Ethereum. Throughout the entire trading process, users retain complete control over their assets. You can explore trading on Loopring to experience its features firsthand. As a protocol that is open-sourced, audited, and non-custodial, it eliminates the need for trust among participants within the Loopring ecosystem. Users’ cryptoassets are consistently under their own control, backed by 100% security guarantees equivalent to Ethereum's standards. Loopring enhances the capacity of decentralized exchanges by processing thousands of requests off-chain, ensuring verifiable execution through zero-knowledge proofs. Consequently, the limitations of underlying blockchains are no longer a hindrance to performance. Most functions, such as order-matching and trade settlement, are conducted off the Ethereum blockchain, streamlining operations and enhancing efficiency. This innovative approach positions Loopring as a leader in the realm of decentralized finance.
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Loopring Features and Options
Loopring User Reviews
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Likelihood to Recommend to Others1 2 3 4 5 6 7 8 9 10
Super cheap fees, app works great Edited: Dec 02 2021
Summary: Loopring are doing something amazing here and I can't wait for the L2 fiat ramps to complete the cycle. Very soon we will have truly decentralized exchanges with super low fees thanks to the Loopring protocol.
Positive: It was very easy to link my wallet with the MetaMask extension in Chrome. Then you can trade without paying the gas fees. It only cost $0.40 per trade which is considerably cheaper than gas fees right now.
Negative: Nothing really. Interface is basic but this is a beta. The high cost for setting up their L2 wallet is off-putting but that is because of the current gas fee on L1 network.
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Likelihood to Recommend to Others1 2 3 4 5 6 7 8 9 10
This is garbage Date: Feb 04 2023
Summary: I'm a dev trying to integrate this garbage of a wallet to my website, it's giving me a really hard time.
No documentation at all.
Their example on how to connect their own wallet, written by their devs doesn't work, which speaks for itself about the quality of the product they deliver.Positive: I didn't really like anything.
May be the fact that you changing tokens on l2 is gas free a plusNegative: It doesn't work with any WalletConnect compatible dapp except for their own website.
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