Loopring bills itself as ‘not only a protocol’ but also a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reducing the cost of trading. They do this by raising the liquidity of cryptocurrencies, thereby aiming to build the financial system of the future (they have modest goals, right!).
Loopring state that they offer zero risk to traders, in that they do not require users to send tokens to exchanges for custody. Tokens always remain in their blockchain addresses during the whole transaction life cycle. Users can even transfer their tokens around after orders are submitted – Loopring will automatically adjust trading amount at the initial price- thereby Loopring promises to protect users from threats such as exchange bankruptcies and DDOS.
And it’s all decentralized. Orders are automatically executed while trade funds remain under your control in a decentralized smart contract on the blockchain.
It all sounds pretty exciting, and if you’d like to get yourself some Loopring coins there’s now a step by step guide to buying and storing them here.