What is Loopring?
Loopring is an open sourced platform that encourages communal participation and literally anyone can be part of it. Their native token is called the LRC and is the workings of Daniel Wang.
As a DEX facilitating protocol and an asset trading platform that runs on Ethereum, Loopring allows its users to make orders using their non-custodial wallet, pooling orders in the process. Thereafter orders are sent to relayers or distributed to a liquidity sharing platform to build adaptable order books from different exchanges and to identify tradable order rings. As you can see, the main function of Loopring is basically order matching and boosting DEX exchanging that is made possible thanks to ring sharing.
The use of Loopring’s balance sheets enables greater liquidity than that available directly in the market .The order rings settlement is done using smart contracts which ensures atomic transfer of tokens and no risk. Loopring aims to solve the issues related to centralized exchange by incorporating blockchain, smart contracts and most importantly introducing cross chain capabilities.