Pioneering zk-rollup Loopring closes DEX, citing lack of adoption

Loopring ends its Ethereum DEX after years of weak adoption and rising zkEVM competition. LRC plunged about 99% from its peak as liquidity, users, and market confidence steadily declined. User funds will be distributed to Ethereum wallets as Loopring completes its platform shutdown. Loopring has officially shut down its decentralized exchange (DEX), ending the operations […] The post Ethereum Pioneer Loopring Shuts Down DEX After Adoption Falls Short appeared first on Live Bitcoin News.

Loopring will distribute funds directly to users and cover transaction fees. Users do not need to take any action.

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Loopring has announced the immediate closure of its decentralized exchange and automated market maker after concluding that years of limited adoption, business shortcomings, and technological competition left the project without a sustainable future. Loopring disclosed the decision in a post…

Loopring officially shut down its decentralized exchange, marking the end of one of Ethereum’s earliest zk-rollup platforms. All trading functionalities were immediately stopped, and the relayer was turned off right after the official announcement made via Loopring’s X account. The shutdown ends a project that once demonstrated how zero-knowledge rollups

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