Loopring (LRC) is an innovative Layer-2 protocol built on the Ethereum blockchain that utilises the advantages of zk-Rollup technology. This technology enables the security of Ethereum to be maintained while significantly reducing transaction costs. Through this combination, users can carry out transactions much faster and more cost-effectively without having to forego the security and decentralisation of the underlying Ethereum blockchain. Especially outside the BISON app, Loopring offers the possibility to trade efficiently and cheaply, making it an attractive solution for traders who value speed and low fees.
The LRC coin plays a central role within the Loopring ecosystem. It is mainly used for governance voting, allowing LRC holders to actively participate in the development and decision-making of the protocol. In addition, there is the possibility to stake LRC, meaning users can commit their coins to support the network and receive rewards in return. Another important use case for LRC is the security function for operators of exchanges based on the Loopring protocol. These operators are required to deposit a certain amount of LRC as collateral to ensure the integrity and reliability of the trading platforms and to strengthen user trust.
Trading: Buying, Selling & Savings Plan
Trading: You can buy and sell LRC at the current rate. Additionally, limit and stop orders are available to you.
Savings Plan: Yes, this coin is available for setting up an automatic crypto savings plan.
Transactions: Deposits and Withdrawals
Deposit: No
Withdrawal: Yes
Please use only the wallet addresses currently displayed in BISON. You can find these under “Account” -> "Withdraw" -> "Withdraw cryptocurrencies". Here you can select the desired cryptocurrency and display the respective wallet address for your withdrawal.
Important details: All important information about the supported network, the correct address format, and the respective minimum amounts for LRC can be found in our central overview: Which address formats are supported for each cryptocurrency at BISON?