LRC is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralized crypto exchanges.
In 2020, the average daily trading volume of the entire cryptocurrency market fluctuated in the approximate range of $50-$200 million. Most of that trading is conducted on centralized cryptocurrency exchanges — online platforms operated by private companies that store users’ funds and facilitate the matching of buy and sell orders.
Such platforms have a number of downsides common to all of them, so a new type of exchange — decentralized— has emerged to try to alleviate these disadvantages. However, fully decentralized exchanges are not without their own flaws.
Loopring’s purported goal is to combine centralized order matching with decentralized on-blockchain order settlement into a hybridized product that will take the best aspects of both centralized and decentralized exchanges.
LRC tokens became available to the public during an initial coin offering (ICO) in August 2017, while the Loopring protocol was first deployed on Ethereum mainnet in December 2019.
Attention. There is a risk that unverified members are not actually members of the team
The following are the general strengths of the Loopring project:
Ambitious and perspective idea
Healthy vesting conditions
Good competitive position
Key project risks at this stage include:
The project has strong competitors based on their progress and market position, however, Loopring has several competitive advantages in terms of performance and security in comparison with its rivals. Considering such strengths, such as an experienced development team, good overload resistance, stability, and extensive tools, the project can become a worthy competitor.
Roadmap is not comprehensive
The project’s roadmap does not have business development milestones and does not directly cover in detail the period after the trading wallet release in April, 2018. At the same time, vesting for the team will continue for almost two years (current 2018, upcoming 2019 and half of 2020). As for the report date, the roadmap is presented as a single artistic format of the business plan, without any specific milestone, which could be used in a future project’s on-time development evaluation.
Absence of detailed information regarding the use of proceeds
Information regarding the use of funds collected during the ICO is not available for public review yet and cannot be verified. Nevertheless, the team intends to release an expense report for public review after the calendar year-end. If that happens, the risk may go down.
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