LRC is the native token of Loopring – a Layer 2 protocol that enables fast and low-cost trading and payments on Ethereum. Loopring uses zero-knowledge rollups (zkRollups) to bundle and process thousands of transactions off-chain, reducing fees and improving scalability.
What is LRC used for?
LRC is used to power the Loopring protocol. It serves various purposes, including:
- Paying protocol fees on Loopring’s decentralized exchange (DEX)
- Staking to secure and incentivize liquidity providers
- Participating in governance and upgrades
- Reducing trading fees when held in user wallets
LRC empowers users to trade assets on Ethereum quickly and cheaply, while maintaining full self-custody and privacy thanks to zk technology.
What makes LRC unique?
- Built on Ethereum but runs on Layer 2 for speed and cost efficiency
- One of the first zkRollup-powered protocols live on mainnet
- Offers a non-custodial trading experience
- Strong community and developer base
LRC on Floin
Floin supports LRC on the Ethereum network. You can hold, send, and receive LRC while exploring fast, decentralized finance with zk-powered technology.
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