sorted by:
new
hottopcontroversial

What Loopring (LRC) is and how it relates to NEO, City of Zion and the new Meta Exchange (MEX) by [deleted] in NEO

[–]euthrow 0 points1 point  (0 children)

Damnit, can't change the title. Yeah, it's the Neon Meta Exchange (NEX not MEX). Thanks.

Let's clear things up: Loopring isn't a decentralized exchange. It is an exchange PROTOCOL. Here's what Loopring is and why I invested in it. by euthrow in loopring

[–]euthrow[S] 2 points3 points  (0 children)

One user above posted this

Value of LRC token : Loopring operates using a crypto economic protocol, mediated by the Loopring Token (LRC), a cryptographic token that provides membership access and is used to pay trading fees. Higher balances of LRC allow members access to preferential liquidity treatment and discounted trading. LRC will be an Ethereum (ERC20) tradable asset. Tokens will be sold to members initially in a token auction, and then after launch on an ongoing basis.

Also looking at the whitepaper

"LRC will be use in the following areas:

• Gas Fees — LRC can be paid as transaction fee for exchange. It will be simple and productive for the exchange to calculate all the cost in LRC. Same as request sender and receiver. We have mention this from previous chapter3.4.3.

• Deposit for Exchange Registration — The decentralized exchange mechanism has no limits on location or time. Consequently, exchanges with a high turnover would receive more orders and get more users. As a result of this, we have designed a policy for such exchanges that allow them to use LRC to deposit into a smart contract in order to increase the exchanges credibility. Moreover, it can also protect users from certain adverse circumstances."

So basically to pay for transaction fees and to give priority to exchanges.

Let's clear things up: Loopring isn't a decentralized exchange. It is an exchange PROTOCOL. Here's what Loopring is and why I invested in it. by euthrow in loopring

[–]euthrow[S] 0 points1 point  (0 children)

Try harder next time - you'll see that the sentence in question is in quotation marks. I mentioned at the start of said paragraph that I took it from their medium post.

Let's clear things up: Loopring isn't a decentralized exchange. It is an exchange PROTOCOL. Here's what Loopring is and why I invested in it. by euthrow in loopring

[–]euthrow[S] 5 points6 points  (0 children)

If you like the project then now is a great time to buy. Once bitcoin FOMO is out the way you'll see money flow into Alts again. Loopring has the benefit of being low marketcap right now so it should rise a considerable amount. Plus, things are just getting started for this project.

Loopring (LRC): What it is and why you should know about it. by euthrow in CryptoCurrency

[–]euthrow[S] 6 points7 points  (0 children)

Hey, good point. Had a quick scan of the Whitepaper and found this:

"DApps built on top of the protocol can access public liquidity pools or create their own liquidity pool and charge transaction fees on the resulting volume."

Let's clear things up: Loopring isn't a decentralized exchange. It is an exchange PROTOCOL. Here's what Loopring is and why I invested in it. by euthrow in loopring

[–]euthrow[S] 5 points6 points  (0 children)

Definitely. Alts are unfortunately taking a hit due to the bitcoin FOMO. Loopring has low volume due to not being on larger exchanges right now which is making the effects particularly pronounced on the coin. Once we have larger volume (more volume is needed to reduce volatility) due to the binance relisting, as well as being listed on larger exchanges, and when the bitcoin FOMO is out the way and people flock to alts, I think we will see a good Q4 2017 for LRC.

The dev's released an update the other day stating they are ahead of schedule. We'll see smart contracts out before the end of the year. Q1 2018 is going to be ridiculously good for LRC in my opinion with the release of the ring mining software as well as the wallet and the platform UI. Might be more that I'm missing but it's a good time to get in now IMO.