What is Loopring?
Loopring is driven by a vision to offer protocols and infrastructure for the future of finance, via accessible user-facing products. The Ethereum Layer-2-based network offers both security and performance, doubled by low fees and a high-speed trading platform. Loopring achieves this without compromising Ethereum’s security at all.
The protocol is proving to the world that DEXes can be as performant as CEXes, creating a digital economic space where users are empowered and always in complete control of their assets. Loopring wants to design and engineer the best-in-class zkRollup exchange and payment protocol on Ethereum, offering products and services to users all across the world.
Since the beginning, the team focused on offering fail-proof security and sovereignty of user assets as a top priority. They are the first to deploy the first zkRollup protocol on Ethereum, allowing users complete access to their assets in all circumstances. The protocol and exchange applications are designed in such a way that no other entity can intervene between a user and their Ethereum-based portfolio.
How to Deposit LRC Into Your Coinmetro Account
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
For all in-depth information on how to deposit LRC into your Coinmetro account, please click the button below.
How to Withdraw LRC From Your Coinmetro Account
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
Important note - LRC is an ERC-20 token supported on the Ethereum blockchain, so please ensure you withdraw to an ERC20 wallet address. If you are withdrawing to an external wallet such as MetaMask, please ensure that you have added LRC as a custom token on the wallet.