Loopring to Close Wallet in June

Loopring has confirmed that the Loopring Wallet will officially shut down operations by the end of June 2025. Users are strongly advised to withdraw their assets before June 30 to avoid having to interact with the smart contract directly afterward. The team has provided full guidance on this transition in an official blog post.LRC InfoLoopring is an Ethereum-based decentralized exchange (DEX) protocol that aims to combine the advantages of centralized and decentralized platforms, providing the user with high liquidity and trading security.The core principle of Loopring is a combination of off-chain order matching and on-chain settlement. While orders are matched off-chain, the final settlement of trades is made directly on the Ethereum blockchain, thus ensuring the transparency and security of every transaction.LRC, the native ERC-20 token of the Loopring protocol, performs a number of key functions in the ecosystem. It is primarily used to pay transaction fees on the Loopring network. LRC can also be used for staking in order to receive a part of the commission from the protocol’s income.