According to a blog post published on Jan. 23, Loopring (LRC) will end staking on Loopring v1 and fully transition to v2, with a new token model also expected next week.

• Staking on Loopring v1 will end to provide more support for the all-round better staking model of Loopring v2
• The remaining rewards on v1 will be distributed on v2, with a particular focus on those passive stakers who lost out to more market-savvy users who took a large chunk of the rewards on v1
• Each staker will get rewards commensurate to how much they’ve staker and for the duration into their Loopring wallets within a week
• The total sum includes the 506,263 LRC in the Loopring v1 vault and the 330,050 in LRC rewards that Loopring had claimed on v1, but Loopring will offer more to round it off to make it 1 million LRC in total 
• While Loopring will directly transfer the rewards into wallets, users will have to personally withdraw their LRC stake on the v1 staking contract
• Loopring closed its v1 network in Dec. 2020, following the launch of Loopring V2 and the Loopring 3.6 protocol upgrade
• The project’s TVL surged in early Jan 2020,. just as Ethereum’s network fees spiked alongside the market rally