Daniel Wang, CEO of Loopring, held a Reddit Ask Me Anything (AMA), Friday, May 11, 2018. Loopring is a protocol that allows for “order-matching-as-a-service” and relays between multiple blockchains to enable a “ring” of trades among different blockchain tokens. Relayers won’t provide any custodial services, which lowers risk of targeted hacks and lower operational costs.
As part of Loopring’s vision to support the most highly used blockchain platforms, they’ve developed a NEP-5 protocol token and are in preparation to airdrop LRN tokens into NEO addresses of users who also hold LRC (ERC-20) tokens. For more information about the LRN airdrop, and prerequisite steps visit this Medium post.
In Daniel’s AMA, he addressed particular points of relation to the NEO ecosystem and the LRN airdrop to take place in July. One Redditor inquired about the potential of NEX using Loopring’s LRN as a utility token, in reference to an interview from NEO DevCon. Daniel responded, “months ago this was the case, but since Loopring on NEO is still in development, I don’t know if NEX is willing to [wait.] We are making good progress though. If any [decentralized exchange] (DEX) protocol goes live on NEO, Loopring is very likely to be the first one.”
When asked about upcoming LRN protocol plans and strategies to drive usage, Daniel responded, “we want to deploy Loopring on NEO [as soon as possible], then integrate our backend (relay) and frontend with NEO nodes or work with partners on these tasks.”
Additionally, Daniel confirmed Loopring has been in conversation with Switcheo, a DEX operating on top of NEO, and that Loopring is “very interested in a partnership once our protocol is deployed on NEO.”
The first LRN airdrop was originally planned to take place after July 15, 2018, but the team has moved the airdrop forward, to Thursday, July 5, 2018.