Since nobody has mentioned this & Da Hongfei (Founder of NEO) is an advisor for this project, i'd like to share this info with all of you. (Links Provided)
What is Loopring?
Loopring (LRC) is a protocol, but also a decentralized exchange that trades across the crypto-token exchanges, shielding users from counterparty risk and reduces the cost of
trading. By essentially rising the liquidity of cryptocurrenies, we are building the financial system of the future. (Comparable to 0x, Blocknet, Kyber Network)
Example: Say you wanted to buy "X" token. "X" token is different prices throughout multiple exchanges. Loopring comes in and allows you to get the best price for "X" token. It will do so without any risk that is attached to trading on an exchange where you dont hold the private keys to your own tokens.This also will give exchanges the incentive to give you the lowest price possible.
Total LRC Token Supply: 1.395 Billion
ICO Supply: 697 Million
Market cap: Roughly 45 Million
Price at time of typing this: .05 cents (USD)
With support from platforms like Qtum & Neo (Founder of NEO who is an advisor for this project), Loopring
will be built on many public chains like Ethereum, EOS, Qtum & NEO.
As of September 2nd, (LRC) tokens can be purchased on the following exchanges:
- Binance
- EtherDelta
- Bter
- Btc9
The Team:
Daniel Wang (Founder)- 2 years at Google, 4 years at Deloitte
Jay Zhou (CMO)- E&Y, PayPal Risk Operations, SJ Consulting Founder
Johnston Chen (COO)- Chief Information Officer at 3NOD, Product Expert in Finance Industry.
Adivisory Board:
Da Hongfei- Founder of NEO & Founder of Onchain
Alex Tze-Pin Cheng- VP/GM at Baidu USA (5 years), Senior Engineering Manager at Google (2007-2010)
Hitters Xu- Founder of Nebulas Blockchain Search Engine & Blockchain Director at Ant Financial
Simon Zhu - PayPal APEC Ops Site Leader & Google Trust and Safety
Juxie - YOYOW Co-Founder & Board Member of Bitshares
Huaxia Xia- Scientist at Google and Meituan group
Link: https://loopring.org/en/team.html
Loopring Staking/Incentive Program
Loopring has also launched “Two Incentive Programs” in order to motivate mid-term and long-term investors in the community. The program is activated at 6:00 pm on August 30, 2017. After the program is activated, there is a 60-day window period that allows the user to participate; the window period is closed and can not participate, but the Foundation and anyone can continue to contribute to the LRC rewards. Within 18 months after the participation time point, the LRC transferred to the address is frozen and can not be removed. At any time after 18 months, the participant can take the LRC and the reward part or all. The mandatory end date of the plan is three years after the start, three years later did not mention the LRC we believe that the private key password is lost, we will be in three years after the remaining LRC all out of confiscation. There are no caps on the program, and anyone can participate (except for the Foundation). If you want to withdraw the LRC tokens, the earliest time will be 18 months from participating date.
More info: http://incentives.loopring.org/longterm-incentive-program-en.html
Even though Loopring doesn't have a working product at the moment & is only as idea, the fact that people like Da Hongfei (Founder of NEO & Onchain) & Hitters Xu (Founder of Nebulas Blockchain Search Engine) are on the advisory board for this project speaks volumes. People like that arent going to just dont advise a project unless they strongly believe in it. Im confident that this will be a project you'll want to keep your eye on.
More Info:
https://github.com/Loopring/whitepaper/raw/master/keynote/loopring-technical.pdf