Loopring

Halal Rating :
Questionable
Last Price $0.26 Last updated:
Rank 185
1D Change 0.21 %
Market Cap $355.88m
Circulating supply 1,366,806,970
Maximum supply 1,374,513,896

Crypto Overview

Categories
  • Marketplace
  • Decentralized Exchange (DEX) Token
  • DeFi
  • Zero Knowledge Proofs
  • Scaling
  • Smart Contracts
  • Wallet
  • Ethereum Ecosystem
  • AMM
  • DEX
  • Layer 2
  • Rollups
  • Red Packets
  • Web3
  • Token
  • Arbitrum Ecosystem

Loopring is a Decentralized Exchange (DEX) built on an Ethereum Layer-2 (L2) solution called zkRollup. It has both Automated Market Maker (AMM)-based and orderbook-based exchanges.  zkRollup is an Ethereum L2 scaling solution that migrates computations off the blockchain. Loopring protocol only uses the underlying Ethereum blockchain as a data layer and a verification layer. As a result, Loopring's throughput is as high as 2,025 trades per second compared to Ethereum’s current throughput of 15 transactions per second. The result is that the cost per trade settlement is as small as $0.00015. Loopring's performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots. This was not previously possible on any DEX as it was prohibitively slow and expensive. By building on top of Loopring 3.0, orderbook-based DEXs can be commercially viable for the first time. Loopring expects non-custodial exchanges can begin to outcompete and displace many centralized counterparts.

Crypto Impact

To assign a comfort level investing in Loopring from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Loopring.

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Justification for our Halal Rating