Other system · settles to Ethereum
Loopring ticker LRC
Historical network. Its profile describes the design as history. The evidence is in the system note below.
Summary
Shut-down zero-knowledge rollup on Ethereum. While it ran, one operator collected signed orders, transfers and withdrawals off-chain, built blocks that update a Merkle tree of accounts and balances, and submitted each block to an Ethereum contract with a zkSNARK validity proof (Groth16 with a trusted setup, per L2BEAT). The contract verified the proof at submission, and the block data went to Ethereum as calldata so anyone could rebuild the state. Users could force a withdrawal on Ethereum; if the operator ignored it for 15 days, the exchange could be switched to a withdrawal mode where people exit with a Merkle proof. On 29 June 2026 the multisig upgraded the exchange to an executor whose only function lets the multisig make arbitrary calls from the exchange; a 9 July 2026 upgrade added a batch NFT sender. No blocks, proofs or user exits remain. 134678
Design
- System
- Other systemShut-down Ethereum layer 2: an application-specific zero-knowledge rollup for trading and payments (first deployed December 2019), not an EVM chain. On 29 June 2026 the Loopring multisig replaced the exchange contract's code with an admin-only executor, ending blocks, proofs and self-service exits; loopring.org says Loopring is no longer operational and L2BEAT lists it as archived. LRC is Loopring's ERC-20 token on Ethereum, used for staking; layer-2 fees could be paid in several tokens. It is not grouped with the Ethereum and EVM settlement family because it never ran EVM contracts.
- Settles to
- EthereumWhile running, each block and its validity proof were verified on Ethereum when submitted, so there was no fraud-proof challenge window; withdrawals were claimable on Ethereum once the block containing them was accepted. Forced withdrawals cost 0.02 ETH and had to be served within 15 days, after which anyone could trigger withdrawal mode. Since 29 June 2026 the exchange contract only lets the Loopring multisig move assets out; L2BEAT reports NFTs are sent in batches and ERC-20 tokens are sent out manually.
- Settlement family
- Its own design
- Scarce resource
- Other
- State model
- Accounts
- Finality
- Other
- Who makes blocks
- One operator run by Loopring was the only party that could submit blocks. The design required the exchange owner to keep a minimum LRC stake before blocks could be submitted, but L2BEAT's last recorded state of the exchange before the shutdown shows that stake at zero. Since the June 2026 shutdown nobody submits blocks; a 2-of-3 Loopring multisig controls the exchange contract and moves the remaining assets.
- Fork choice
- No open fork choice. Blocks were chained by Merkle root: each submitted block had to start from the root the Ethereum contract last accepted, and the contract rejected any block whose proof failed. Ethereum's own fork choice and finality ordered those submissions.
Qualifications
- Network operation · Not applicable. Loopring's site says it is no longer operational, and the exchange contract was replaced on 29 June 2026. Live measures such as fees, throughput, finality times and node operation no longer apply; this profile describes how the system ran and how assets leave it.
- Scarce resource · Not applicable. Blocks came from an operator the exchange owner appointed. The LRC stake the exchange owner had to keep was a bond that allowed block submission, not a resource that chose who produced blocks, and L2BEAT's last recorded state before the shutdown shows it at zero.
- Finality · Partial. Loopring's design describes trades that look final at once in the exchange interface, but they became binding only when the block and its proof were accepted on Ethereum and that Ethereum transaction was final. No new blocks have reached that point since June 2026.
- Forced exit guarantee · Contested. The design let users force a withdrawal on Ethereum and, if the operator ignored it (for 15 days, per L2BEAT), exit with a Merkle proof. L2BEAT's risk summary still describes that path, but L2BEAT's own change log and the verified code installed on 29 June and 9 July 2026 show it was removed: the exchange now exposes only owner-only functions, so exits depend on the Loopring team sending assets.
- Upgrade authority · Applies. Per L2BEAT, a 2-of-3 Loopring multisig owns the exchange proxy, verifier and fee settings and can upgrade them with no delay; a public-node read on 27 September 2026 matched that owner and threshold. L2BEAT's change log shows the threshold moving from 4-of-6 to 3-of-4 to 2-of-3 in August 2025.
- General smart contracts · Not applicable. Loopring supported a fixed set of transaction types (trades, transfers, deposits, withdrawals, account and pool updates, NFT mints); L2BEAT notes arbitrary contracts were not supported.
- Settlement family · Partial. Filed as other: Loopring 3 was an application-specific zero-knowledge rollup on Ethereum for trading and payments, with fixed transaction types (trades, transfers, deposits, withdrawals, account and pool updates, NFT mints) and no general contracts. It never ran EVM contracts, so the ethereum-evm value does not fit.
Tradeoffs
- Emphasizes
- Security and Scalability
- Gives up
- Decentralized operation and continuity. One Loopring operator ordered and proved everything, a small multisig could upgrade the contracts with no delay, and that multisig ultimately replaced the rollup contract, removing the Merkle-proof exit that was meant to protect users if the operator stopped.The security emphasis describes the operating period, when Ethereum checked a validity proof for every block and forced withdrawals plus withdrawal mode backed user exits. It depended on the correctness of the circuits and trusted setup, and on the multisig not using its instant upgrade power. The scalability emphasis is narrow: Loopring moved trades and transfers off Ethereum but supported only fixed transaction types, not general contracts.
- Full node at home
- Not applicable 348There is no running network to follow: no blocks have been submitted since the exchange contract was replaced on 29 June 2026. While it ran, the design put all block data on Ethereum so anyone could rebuild the Merkle tree from Ethereum alone, which needs an Ethereum node rather than special hardware; no public Loopring node software was found, and Loopring's GitHub organization now shows no public repositories.
- Throughput claims
- Theoretical peak: 2,150 3Theoretical peak; not comparable across chains or with observed load.Spot-trade settlements per second, calculated in Loopring's design document; a trade settles two orders.Calculation for Loopring 3 using Ethereum's 12.5 million gas block limit and roughly 13-second blocks of that era.Assumes the operator can prove enough maximum-size blocks (about 2,048 trades each) to fill an Ethereum block; the document's text says seven blocks, while its formula charges submission gas for fourteen. Proof-generation hardware and time are not stated.A calculated ceiling, not an observed rate: it assumes every Ethereum block is filled with Loopring trade data. Uses 2020-era gas limit and block time and ignores proof-generation cost and delay beyond the circuit size limit. The design document is not internally consistent about how many blocks per Ethereum block the figure assumes (seven in the text, fourteen in the formula). Counts trades on one application-specific exchange, not general transactions, so it is not comparable with other chains' figures. The network stopped operating in June 2026, so no current capacity applies.
Scaling layers
No scaling layer recorded in this profile.
Capabilities
| Capability | How it is provided | Notes and sources |
|---|---|---|
| Account abstraction | Structured assessment pending | Not yet assessed for any chain. |
| Atomic swaps | Not present | No swap can settle: nothing has executed since the June 2026 shutdown, when the exchange contract was replaced by an admin-only executor. While it ran, a trade settled both sides of two signed orders in one proven block, but only the operator could match orders. 38 |
| Authenticated data publication | Unknown | Not yet assessed under this row's current definition. |
| Light clients | Not present | No light verification is possible now: no blocks have been submitted since June 2026, and the exchange contract was replaced by an executor that no longer offers withdrawal mode, in which balances were proven against the Merkle root stored on Ethereum. While the system ran, that root allowed such balance proofs; no dedicated light client was found. 38 |
| Native staking or delegation | Structured assessment pending | Not yet assessed for any chain. |
| On-chain governance | Structured assessment pending | Not yet assessed for any chain. |
| Parallel execution | Structured assessment pending | Not yet assessed for any chain. |
| Payment or state channels | Unknown | No source was cited for absence, so the rule that absence needs a source makes this cell unknown. Earlier finding: no payment or state channel layer anchored to Loopring was found; absence was not exhaustively verified. |
| Programmable spending | None found Earlier definition | Nothing can execute since the shutdown. While it ran, Loopring offered fixed transaction types plus conditional transactions that the owner or an approved agent contract authorized on Ethereum; it did not run general smart contracts. 348 |
| Protocol-verified messaging | Structured assessment pending | Not yet assessed for any chain. |
| Reversible transfers or recovery | Not present | The layer-2 protocol had no feature to cancel or delay a sent payment and no recovery path. The separate Loopring Smart Wallet on Ethereum used guardian-based recovery, but it was not part of the layer 2, and Loopring said its app would stop being accessible after 30 June 2025. 2 |
| Rollups | None found Earlier definition | No rollups were found anchored to Loopring. Loopring's own layer-3 DeFi accounts on Taiko and Base settled to those networks, not to the Loopring layer 2. Loopring closed all its DeFi services, including those it ran on the Loopring layer 2, on 31 July 2025. 25 |
| Shielded transfers | Structured assessment pending | Not yet assessed for any chain. |
| Signed partial offers | Unknown | Not yet assessed under this row's current definition. |
Reading these values
- How this feature is provided
- Built into the protocol, core-team software or independent software says where a feature lives and who can change it. These are implementation layers, not quality: core-team software is not closer to the protocol than independent software.
- Structured assessment pending
- The shared review has not assessed this feature for any chain yet (Account abstraction, Native staking or delegation, On-chain governance, Parallel execution, Protocol-verified messaging and Shielded transfers). That does not mean it is absent, and a chain’s profile may already describe it.
- Unknown
- The review has not established this for this chain under the current definition; the note beside it says why. Unknown is not absent and not a low score. A feature reads “Not present” only when a source shows it is absent.
- Earlier definition
- Payment or state channels, Programmable spending and Rollups keep the earlier definition until the next fact-check. There, “Native” does not separate the protocol from core-team software, “Ecosystem software” does not say who publishes it, and “Partial” does not say which layer.
- Reading across rows
- The list of capabilities is incomplete. Do not read these rows as a chain leading or lagging overall.
Ecosystem & custody
| Product type | Status | Notes and sources |
|---|---|---|
| Automated market makers | None foundLoopring exchange (order book and pools, shut down June 2026) | Loopring's own exchange combined an order book with protocol-level automated pools and was the main venue on the layer 2. It no longer accepts deposits or settles trades. Liquidity depth before the shutdown was not measured. 134 |
| Issuer-native stablecoins | None found | Circle's list of native USDC deployments does not name Loopring. Stablecoins on Loopring were Ethereum tokens deposited into the exchange, and none can move on the halted system. 14 |
| Algorithmic stablecoins | Unknown | No source was cited for absence, so the rule that absence needs a source makes this entry unknown. Earlier finding: no stablecoin of any design can operate on the halted system; algorithmic stablecoin use before the shutdown was not reviewed. |
| Bridges | None foundLoopring exchange deposit and withdrawal contracts (closed June 2026) | Deposits and withdrawals between Ethereum and Loopring went through Loopring's own exchange and deposit contracts. Since 29 June 2026 users cannot deposit or withdraw themselves; the Loopring multisig sends assets out. A public-node read on 27 September 2026 found no ETH, LRC, USDC, USDT, DAI or WBTC left in the deposit contract, although Etherscan still lists balances of many other tokens there. Risk: Exits now depend entirely on the Loopring team and its 2-of-3 multisig, which can move anything the exchange holds with no delay. Whether every user received their assets was not verified, and Etherscan still lists token and NFT balances in both the exchange and deposit contracts. 468910 |
| Block explorers | None found | Loopring's own explorer lived under the loopring.io domain, which did not resolve at review time. Etherscan shows the Ethereum-side exchange contract and the LRC token, not layer-2 balances or blocks. 1011 |
| Hardware wallets | Unknown | See custody rows. Ledger and Trezor cover LRC as a token, not the Loopring layer-2 network, and no source reviewed documents a hardware-wallet path for the layer 2, which has shut down. 1213 |
Hardware-wallet custody
| Device maker | Status | What users can and cannot do |
|---|---|---|
| Ledger | UnknownSame as native: Unknown | Cannot: Use a Loopring layer-2 account: the network no longer operates Cannot: Find a Loopring network in Ledger Wallet: its current code has noneLedger's Loopring page offers LRC in the Ledger Wallet app but names no network, and LRC is an ERC-20 token on Ethereum; under the shared custody rule that token copy does not count as custody on the Loopring layer 2. Loopring's 2020 update says its layer 2 worked with MetaMask or WalletConnect wallets but does not mention hardware wallets, and no source reviewed documents a Ledger path. 11121516 |
| Trezor | UnknownSame as native: Unknown | Cannot: Use a Loopring layer-2 account: Trezor's page lists no Loopring network, and the network no longer operatesTrezor's Loopring page covers LRC as a token on Ethereum, Arbitrum One and Energi, which a Trezor Safe 3, 5 or 7 can hold through Trezor Suite, MetaMask or Rabby; under the shared custody rule those token copies do not count as custody on the Loopring layer 2. No source reviewed documents a Trezor path for the layer 2. 1316 |
Public data
iKnow Blockchain has no public-data lookups for Loopring yet. This is a limit of the service, not a statement about the network.
| Lookup | Status | What it covers and its limits |
|---|---|---|
| Address or account | Not available yet | Public-data lookups for this chain are not built yet. |
| Tokens and assets | Not available yet | Public-data lookups for this chain are not built yet. |
| NFTs | Not available yet | Public-data lookups for this chain are not built yet. |
| Transactions | Not available yet | Public-data lookups for this chain are not built yet. |
Sourced developments
Developments: Review overdue Reviewed Sep 27, 2026; next review was due Oct 7, 2026, 12:00 UTC.
Publication date · newest first
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Loopring's exchange contract gained batch NFT sending
A further upgrade added a function for sending NFTs held by the exchange back to many recipients in one transaction. L2BEAT notes that ERC-20 tokens still have to be sent out manually.
- Implementation:upgrade executed on Ethereum; batch NFT function present in the verified source
- Release:revised admin executor contract
- Activation:active since 9 July 2026
Sources: L2BEAT — Loopring (external site) · L2BEAT (GitHub) — Loopring contract diff history (external site) · Sourcify — ProxyAdminExecutor verified source (9 July 2026 version) (external site) · Etherscan — Loopring: Exchange v2 (external site)
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Loopring's exchange contract was replaced with an admin-only executor
The Loopring multisig upgraded the exchange proxy on Ethereum to new code whose only function lets the proxy owner make arbitrary calls from the exchange, including sending its assets. Normal operation stopped, and the forced-withdrawal and Merkle-proof exits in the old code no longer exist. L2BEAT archived the project at the same time.
- Implementation:upgrade executed on Ethereum; replacement code verified on Sourcify
- Release:admin executor contract
- Activation:active since 29 June 2026
Sources: L2BEAT — Loopring (external site) · L2BEAT (GitHub) — Loopring project configuration (external site) · L2BEAT (GitHub) — Loopring contract diff history (external site) · Sourcify — ProxyAdminExecutor verified source (29 June 2026 version) (external site) · Etherscan — Loopring: Exchange v2 (external site)
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Loopring announced the shutdown of its layer-2 exchange
Loopring announced that its exchange was being sunset. L2BEAT summarizes the post as saying the exchange no longer accepts deposits and that deposited tokens will be transferred to users. Loopring's website now states that Loopring is no longer operational.
- Proposal:announced by Loopring; no governance vote described in the reviewed sources
- Implementation:exchange contract replaced on 29 June 2026
- Release:no software release; a shutdown
- Activation:in effect; loopring.org says Loopring is no longer operational
Sources: L2BEAT — Loopring (external site) · Loopring — Loopring Has Shut Down (external site)
Topics your AI can explain
Your AI can explain these topics for Loopring through the connection, with sources.
Known gaps
What this profile's review did not establish:
- Loopring's June 2026 shutdown announcement is an X post that could not be read, and X's public embed service reported it as unavailable on 27 September 2026; its content here comes from L2BEAT's summary and the short loopring.org notice.
- Whether every user received their tokens and NFTs from the team distribution was not verified; only a zero-balance spot check of the deposit contract for six major tokens was done.
- How ERC-20 tokens were returned is not documented beyond L2BEAT's note that they are sent manually. The first of the two 29 June 2026 upgrade transactions briefly pointed the exchange at a contract that Sourcify identifies as a token distributor; its role was not established.
- Loopring's docs, app and explorer on the loopring.io domain did not resolve at review time, and its GitHub organization shows no public repositories, so the design detail rests on an archived copy of the design document.
- The typical time from a trade to a proven block on Ethereum while the system ran was not found.
- How much activity the exchange still had between the July 2025 DeFi closure and the June 2026 shutdown was not measured.
- No independent node software for following the layer-2 state was found.
- Whether hardware wallets could sign Loopring layer-2 actions through MetaMask in Loopring's web app was not verified; Loopring's November 2020 update names MetaMask and WalletConnect wallets but not hardware wallets.
- Who holds the three multisig keys was not sourced.
- What happens to the token and NFT balances Etherscan still shows in the exchange and deposit contracts is not documented in the reviewed sources.
- Third-party bridges and fast-withdrawal providers that once served Loopring were not reviewed.
- The status of the Loopring Smart Wallet contracts on Ethereum after the app closed was not reviewed.
- Loopring's claim that it delivered the first zero-knowledge rollup on Ethereum was not independently checked.
Sources
Oldest dated source check: Source checked Sep 27, 2026 Next check due Oct 27, 2026.
- Loopring Has Shut Down (external site)
- Loopring Protocol blog feed (wallet closure, DeFi closure and CEO departure posts) (external site)
- Loopring 3 design document (packages/loopring_v3/DESIGN.md, archived copy of 8 January 2026) (external site)
- Loopring (external site)
- Loopring project configuration (external site)
- Loopring contract diff history (threshold changes, June and July 2026 upgrades) (external site)
- ProxyAdminExecutor verified source, 29 June 2026 version (Ethereum 0xB40973B8bffDe1553AE05DE4b298610524E1c37a) (external site)
- ProxyAdminExecutor verified source, 9 July 2026 version (Ethereum 0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388) (external site)
- Loopring: Exchange v2 Deposit (0x674bdf20A0F284D710BC40872100128e2d66Bd3f) (external site)
- Loopring: Exchange v2 (0x0BABA1Ad5bE3a5C0a66E7ac838a129Bf948f1eA4) (external site)
- LoopringCoin V2 (LRC) token (external site)
- Loopring Wallet: buy, manage and hold your LRC (external site)
- Loopring wallet (external site)
- USDC Contract Addresses (external site)
- Ledger Wallet coin-module loaders (loaders.ts, develop branch) (external site)
- Loopring Monthly Update — 2020/11 (external site)
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Funding disclosure
Funding disclosures appear here when an upkeep arrangement exists, in the form “Upkeep funded by [name]; verdicts unaffected.” The funder ledger has not been published yet. Neutrality & funding