Loopring announced that it has shut down its decentralized exchange (DEX) services, with its relayer going offline immediately after the announcement on Sunday.
Though widely recognized as the first zkRollup project on Ethereum, the project said in an X article that it never gained measurable traction.
"As the first zkRollup, we lacked a virtual machine — no composability, no real‑world payment use cases," the team wrote. "That limitation kept our ecosystem from growing."
Loopring also said its zkEVM architecture had been outpaced by modern solutions that are fully compatible with Ethereum smart contracts. The lack of business development and external pressures, including the major exchange delistings of its native token LRC, also contributed to the decision, the team said.
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