TLDR Tech / Crypto
Loopring sunsets its DEX as TVL falls 99% from peak
Loopring has shut down its DEX, taking the relayer offline and citing chronic low adoption and an architecture that lacked a virtual machine, leaving it outpaced by newer zkEVM-compatible rollups with broader composability. TVL had decreased ~99% from a $760 million peak in November 2021 to ~$8 million, with LRC trading around $0.01 against its $3.75 all-time high. The team will publish a final balance list and return funds to users' Layer-1 addresses, covering gas.
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