I remember hearing about Loopring back in 2018 during the great, infamous Alt Season that lasted from January all the way till May 7th before dumping into oblivion. I had forgotten about it for some time. When I mentioned I was bullish on $LRC, they thought I had mistaken it for $LTC or it was simply a typo. But I'm still feeling bullish on Loopring- let's dive into it a bit.
Loopring was introduced sometime around the fall of 2017, crazy times. If you were here, you'll never forget the insane bullish that you could even smell wafting through the air. Everything was pumping, didn't matter what. Loopring went from 4 cents all the way to around $2.50 in January, and even had a nice little pump back to $1.00 if you had purchased again under 40 cents. The good old days. It'll happen again someday most likely, when Bitcoin has a crazy run up next yet but until then ACCUMULATE.
But what does it do? Loopring is an open protocol for decentralized exchanges to have more scalability, basically meaning the ability to handle more users & higher amounts of traffic. This is VERY similar to what ZRX or 0x aims to achieve, which is why they both compliment each other & if you hodl one, you should certainly consider hodling the other. Think of them like brothers.
Loopring aims to allow the seamless flow of higher performing decentralized exchanges, which is basically an exchange where you never share with them your private keys or need to deposit crypto. You can simply allow access to your wallet like Metamask, Ledger, or Trezor, without worrying about being hacked. That could certainly be the future of exchanges, kind of like a bank that never loans out your money. LRC also aims to lower fees for users who choose to utilize the token on these exchanges which is a game changer. Who wants to pay high fees for trading on truly decentralized exchanges? Nobody, that's who.
Lastly it can be staked by individuals or even by exchanges, to help support the robust ecosystem, and to earn protocol fees. Kind of like a kickback for you lending out money essentially, in Layman's terms. And right now? It's only 2 cents per $LRC. In my mind this is a good bargain long term, since it is half the price that it started at (who doesn't like half off????) and yet it still manages millions in volume per day! That's one of my main metrics for looking at coins that are a few years old- does it still have the volume it once did, or at least does it have a fraction of the volume that it once did. If either is a yes & the coin/token has active devs & a solid use case that still holds up to this day, then in my mind it is a project worth at least $BATting at eye at (Yes pun intended of course). I mean there is already a DEX built on top of the Loopring protocol, which I highly recommend checking out, if not to use, at least to get a feel for what DEXs have to offer. Try trading on it, you might find it interesting, maybe even amusing! Loopring.io
At the end of the day I always tout doing your own research, so hopefully my article has saved you a few minutes of your time, by compiling the information I know about Loopring, into one easy to digest & short read! Read more about Loopring here!
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