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🌪 The market is clearing. Loopring has shut down its decentralized exchange due to a lack of noticeable demand and is effectively winding down the project, The Block reports.
“Being the first zkRollup, we didn’t have a virtual machine — there was no compatibility with other applications and real use cases for payments. This limitation prevented our ecosystem from growing,” the Loopring team said.
The project will return all remaining assets to users and will pay the fees itself. In the coming days, Loopring will publish the final list of balances on the second-layer network, including funds in spot accounts and positions in liquidity pools. After two weeks of verification, the team will update the smart contract and begin withdrawing assets to users.
💬 Earlier, Loopring shut down the wallet and the Dual Investment and Portal DeFi products. In August 2025, the project’s CEO post was vacated by Steve Guo. After the announcement, the LRC token fell by 4.24% to $0.012.