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Reasons to Buy Loopring

• – It is open-source that allows anyone to look through the code.
• – It is built on Ethereum and is an ERC-20 token.
• – LRC token is the native currency of the Loopring platform.
• – It has a market capitalization of more than $460 million.
• – It has a maximum supply of around 1.3 billion coins.

Loopring token was launched in August 2017 and was successful in raising $45 million in its ICO (Initial Coin Offering).

It started to provide all the benefits of a centralized exchange in the decentralized environment, thus leveraging both of these entities. Loopring came out as an automated product built on blockchain that facilitates token exchange in a decentralized manner. It utilizes the potential of smart contracts and is built upon three blockchains: Ethereum, Neo, and Qtum. Users need not confuse Loopring with Decentralized Exchange (DEX) because it is the power source that helps other blockchains to create such exchanges.

Things to consider before buying Loopring

• – It is used as a gas to fuel the smart contracts in the Loopring blockchain.
• -.It is also used as a reward for order-ring makers in the Loopring smart contracts.
• –  The orders on Loopring are based on Unidirectional Order Model (UDOM)

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.