Loopring Shuts Down DEX, Citing Weak Adoption
Loopring, Ethereum's first zkRollup, shut down its DEX, AMM, and relayer effective immediately. The team cited outdated zkRollup design, weak adoption, and competition from newer zkEVM networks. Its TVL dropped 99% from a $760 million peak in 2021 to $8 million.
Detected & updated continuously · Source: Ruma
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Loopring (lrc)Sources
@cryptodotnews
LATEST: Ethereum zkRollup pioneer Loopring closes its DEX, with LRC market cap at $17 million https://t.co/qS1Sld2Hbg
@Crypto_Potato
JUST IN: Loopring is shutting down its DEX, ceasing all trading services effective immediately. The team, self-described as "engineers, not business operators," cited an outdated zkRollup design as the primary reason, struggling to compete with newer zkEVMs. User funds are
@BitcoinWorldN
🚨Loopring — Ethereum's first zkRollup — has shut down its DEX, AMM & relayer immediately. "To be honest, Loopring never gained meaningful adoption." TVL: $8M, down ~99% from $760M peak (2021) LRC: ~$0.01, down ~99% from ATH End of an era. #Ethereum #Loopring https://t.co/xCWN61EtPh
@NFTNews_EU
🚨@loopringorg shuts down its DEX. Loopring has officially shut down its decentralized exchange, citing weak adoption, poor business growth, and competition from newer zkEVM networks. At its peak, the protocol held $760M TVL. https://t.co/dYb9lTXXR7
@bitinning
UPDATE: Early ethereum:native scaling project Loopring is shutting down its DEX. - Team says newer zkEVM technology has replaced its older design. - Low adoption and LRC delistings also hurt the project. Users' funds will be returned to their Ethereum wallets, with gas fees
@Crypto_TownHall
LOOPRING SHUTS DOWN ITS DEX AFTER FALLING BEHIND RIVALS Loopring, Ethereum's first zk-rollup, has shut down its DEX and AMM with immediate effect, citing weak adoption and growing competition from newer zkEVM-based networks.
@mpost_io
❌ @loopringorg, one of @ethereum’s earliest zero-knowledge rollup projects, has announced that it is shutting down its DEX effective immediately, with its relayer going offline. The team said #Loopring was among the first projects to demonstrate how ZK proofs could help scale https://t.co/UAxq5uJ2yZ
@The_NewsCrypto
Loopring Ends Its Pioneer zk-Rollup DEX After Years of Limited User Adoption🚨🔄 To Know More👇 https://t.co/YbYVfkXvBR #Loopring #zkRollup #DEX #Ethereum