Loopring

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A blockchain research organization pioneering the future of finance. Loopring is building protocols, infrastructure, and user-facing DeFi products atop Ethereum, envisioning a digital economy that empowers its participants with full and guaranteed self-custody of their assets.

DeFi doesn't have to be a trade-off between security and performance. With this in mind, Loopring's Layer2 solutions work in synergy with Ethereum Layer1, enabling low-fee, high-speed, Ethereum-secured platforms for trustless trading, swapping, liquidity providing, and payment.

Ongoing projects led by Loopring:

Loopring Protocol: powered by zkRollups on Layer2, enables Ethereum to scale effectively without sacrificing Ethereum Layer1 guarantees
Loopring Layer2 Dex: An orderbook and automated market maker (AMM)-based non-custodial decentralized exchange (DEX) built atop Ethereum using the Loopring Protocol (v3).
Loopring Wallet: A mobile app for Android and iOS featuring an Ethereum Layer1 and Layer2 social recovery smart wallet.

founded 10 months ago

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communick@blockchained.world

CMV about the Loopring Smart Wallet app: there are no “keys” and no way to restore outside of the app… so as they say… “Not your keys, not your coins” (alien.top)

submitted 9 months ago by GMEthLoopring@alien.top to c/loopring@blockchained.world

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Social recovery is nice and all, I liked the wallet… but does anyone else remember when Loopring got ddos’d or something a while back and the Loopring app wouldn’t load or respond to anything?

Really opened my eyes about it, if the app goes down, so does your wallet. Shortly after that, I moved my coins to my ledger to access Loopring L2 after that, and eventually I left the Loopring ecosystem altogether

P.s. yes. I know if Loopring L2 goes down then you can force withdraw to L1. I’m specifically talking about the Loopring mobile wallet app, because you can’t force withdraw to an external address if the app is down for whatever reason or it could even get removed from the Apple App Store

So like Loopring L2 using normal eth wallet? Sure

Loopring L2 with smart wallet app? Eh…

No keys to restore elsewhere = not your coins.

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