Founder of Neo is an Advisor for New Protocol & Decentralized Exchange called Loopring!

in #neo7 years ago (edited)

Since nobody has mentioned this & Da Hongfei (Founder of NEO) is an advisor for this project, i'd like to share this info with all of you. (Links Provided)

What is Loopring?

Loopring (LRC) is a protocol, but also a decentralized exchange that trades across the crypto-token exchanges, shielding users from counterparty risk and reduces the cost of
trading. By essentially rising the liquidity of cryptocurrenies, we are building the financial system of the future. (Comparable to 0x, Blocknet, Kyber Network)

Example: Say you wanted to buy "X" token. "X" token is different prices throughout multiple exchanges. Loopring comes in and allows you to get the best price for "X" token. It will do so without any risk that is attached to trading on an exchange where you dont hold the private keys to your own tokens.This also will give exchanges the incentive to give you the lowest price possible.

Total LRC Token Supply: 1.395 Billion
ICO Supply: 697 Million
Market cap: Roughly 45 Million
Price at time of typing this: .05 cents (USD)

With support from platforms like Qtum & Neo (Founder of NEO who is an advisor for this project), Loopring
will be built on many public chains like Ethereum, EOS, Qtum & NEO.

As of September 2nd, (LRC) tokens can be purchased on the following exchanges:

  1. Binance
  2. EtherDelta
  3. Bter
  4. Btc9

The Team:

Daniel Wang (Founder)- 2 years at Google, 4 years at Deloitte
Jay Zhou (CMO)- E&Y, PayPal Risk Operations, SJ Consulting Founder
Johnston Chen (COO)- Chief Information Officer at 3NOD, Product Expert in Finance Industry.

Adivisory Board:

Da Hongfei- Founder of NEO & Founder of Onchain
Alex Tze-Pin Cheng- VP/GM at Baidu USA (5 years), Senior Engineering Manager at Google (2007-2010)
Hitters Xu- Founder of Nebulas Blockchain Search Engine & Blockchain Director at Ant Financial
Simon Zhu - PayPal APEC Ops Site Leader & Google Trust and Safety
Juxie - YOYOW Co-Founder & Board Member of Bitshares
Huaxia Xia- Scientist at Google and Meituan group

Link: https://loopring.org/en/team.html

Loopring Staking/Incentive Program

Loopring has also launched “Two Incentive Programs” in order to motivate mid-term and long-term investors in the community. The program is activated at 6:00 pm on August 30, 2017. After the program is activated, there is a 60-day window period that allows the user to participate; the window period is closed and can not participate, but the Foundation and anyone can continue to contribute to the LRC rewards. Within 18 months after the participation time point, the LRC transferred to the address is frozen and can not be removed. At any time after 18 months, the participant can take the LRC and the reward part or all. The mandatory end date of the plan is three years after the start, three years later did not mention the LRC we believe that the private key password is lost, we will be in three years after the remaining LRC all out of confiscation. There are no caps on the program, and anyone can participate (except for the Foundation). If you want to withdraw the LRC tokens, the earliest time will be 18 months from participating date.

More info: http://incentives.loopring.org/longterm-incentive-program-en.html

Even though Loopring doesn't have a working product at the moment & is only as idea, the fact that people like Da Hongfei (Founder of NEO & Onchain) & Hitters Xu (Founder of Nebulas Blockchain Search Engine) are on the advisory board for this project speaks volumes. People like that arent going to just dont advise a project unless they strongly believe in it. Im confident that this will be a project you'll want to keep your eye on.

More Info:
https://github.com/Loopring/whitepaper/raw/master/keynote/loopring-technical.pdf

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To be honest with you - I was very strong on NEO and even Binance as of only 4 weeks ago. However - The ICO's that they host, and new coins on the exchange have almost identical Advisory boards.

Take a close look at BNB, HCC, HSR, LLT, NEO - Also take a close look at the names on Binance -

I believe that Binance and their coins will be profitable at first as many have shown enormously intriguing gains - However unless you reside in China - and are an official Citizen - BEWARE!!

Binance was slick by timing the NEO PUMP with the Binance launch which included initial free trades - Then the BNB coin seemed fishy even though other exchanges have had their own coins as well - Holding BNB provides you with "discounted trading fees, also provides you with additional resources -

Binance has been cherry picking their Altcoins to list on the exchange - Aside from BTC, ETH, and LTC which every Exchange in the world has on it - take a look at the other coins... NEO - China, BNB - China, HSR, HSS, OMG - All Chinese coins that are backed by huge Chinese corporations.. They all have pumped hard at least once or for a week straight... Their Voting of coins to be listed - seems... Odd. Maybe 5 out of 20 on the list as of yet are in the top 40 in Market Cap - Where is Dash, NEM, XMR, LSK, BTS, STEEM??

Is it smells fishy - Most likely it is fishy

Profitable for China Outsiders - Possibly - But something going on with Binance IS NOT RIGHT!!

Loopring just sounds sketchy to me as well - your coins never ever leave the blockchain - no personal wallets (for your protection) nope! For manipulation..

Hopefully I am wrong bud but be careful with the Advisory Board Name Dropping and all the familiar faces Advising on 10+ different coins

good points and we should be wary, but binance is currently running votes to determine what coins to list

If you think that Binance's exchange may be fishy, you could always pick up LRC on a few other exchanges. Also, Loopring's exchange is basically a medium to get you the best price possible, so im not sure what could be sketchy about that lol. Its similar to Kyber Network which Vitalik (Founder of Ethereum) is an advisor for. If anything that advisory board gives me more confidence in the project.

any info on where to store loopring off of exchange? Is it ERC20. If so, do you know the custom token address for MEW?

Yes its an ERC20 token that you can store in myetherwallet. (LRC)

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