Loopring (LRC) is a platform designed for the development of decentralized exchanges (DEX). This platform, located on the Ethereum blockchain, allows users to trade assets across exchanges through a system.
Loopring is not a decentralized exchange; it is a layer-2 protocol aimed at facilitating decentralized trading through order matching. Loopring collects all orders sent to its network in a pool and fills these orders through the order books of multiple exchanges. Decentralized and centralized exchanges can implement Loopring, performing cross-exchange transactions to allow investors to access the best prices in a broader market. Any platform using smart contracts (Ethereum, NEO) can also integrate with LRC.

Loopring (LRC) was founded by Daniel Wang. Daniel Wang was a manager at an exchange called Coin Port in 2014. In an interview with Coin Central, Wang explains how his experiences there influenced the creation of Loopring, saying, "I was trying to solve the problems of centralized exchanges, but I realized it wasn't possible. These problems are inherent to the nature of centralized exchanges."
Thus, the story of Loopring began thanks to the challenges Daniel Wang faced during his work experience in centralized exchanges.
Daniel Wang had also led a technology team at Google and was a founding partner and vice chairman of the board at Yungrang Technology.
Jay Zhou, Loopring’s CMO, previously worked at Ernst and Young. Zhou was working in the risk operations unit at Paypal.
The project's COO, Johnston Chen, has served as the chief information officer at 3NOD.

Individuals wanting to trade using Loopring never have to deposit their money into an exchange to start trading. Even on decentralized exchanges like Ether Delta, IDex, or Bitshares, you usually need to deposit your money into the platform via an Ethereum smart contract, but with Loopring, funds always stay in user wallets and are never locked with orders.
This gives you full control over your money while trading, allowing you to cancel, adjust, or increase an order before it is executed. You can even move your money completely after placing an order, although this will affect your final order since the protocol's ring miners will be warned about the balance in the wallet before matching orders.

Ring miners ensure the filling of orders through boards until the desired transactions for all relevant parties are completed. In return for this service, miners earn a fee in Loopring tokens or a profit margin on the final purchase amount of an order. This ensures fair payment to miners for finding the best prices for sellers and that sellers get the most out of their money. It also reduces arbitrage opportunities as the best trade value is provided through the protocol.

When a trade order is executed, Loopring's smart contracts evaluate the orders to ensure the trade is completed. If everything goes well, funds are transferred to the respective wallets. This process happens from wallet to wallet.

After purchasing Loopring (LRC), you can use the official LRC wallet to start trading by visiting loopring.io, or you can keep your tokens in any Ethereum (ERC-20) compatible wallet.

The total maximum supply of Loopring is 1,374,000,000 units. There are currently 1,330,000,000 Loopring (LRC) tokens in circulation.

In Turkey, contrary to common belief, buying Loopring tokens (LRC) with Turkish Lira is an easy and quick process. You can purchase LRC without needing any technical knowledge.