The Loopring team closed its decentralized exchange due to poor adoption, obsolescence, and operational issues.
The team will return all user funds directly to their Ethereum wallets and cover all gas fees during the distribution process.
Loopring officially shut down its decentralized exchange, marking the end of one of Ethereum’s earliest zk-rollup platforms. All trading functionalities were immediately stopped, and the relayer was turned off right after the official announcement made via Loopring’s X account.
The shutdown ends a project that once demonstrated how zero-knowledge rollups could efficiently scale Ethereum. Loopring raised $45 million through its initial coin offering in 2017.
Despite its technical merits, Loopring acknowledged that users never adopted the platform on a meaningful scale. The team pointed out that the lack of a virtual machine on the platform did not allow developers to compose and develop more advanced real-world applications. Without
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