Loopring closes DEX: one of the first zkRollup projects stops

Loopring, one of the first zkRollup projects on the Ethereum network, is immediately ceasing all trading services on its decentralised exchange. The relayer is going offline and users will have their funds returned. This marks the end of a project that was once considered a pioneer in the world of zero-knowledge technology.

Loopring is available at OKX and Bybit.

From cypherpunk dream to forced farewell

In an emotional farewell letter, the team writes that Loopring originated from a pure cypherpunk vision. The developers started with the belief that zero-knowledge proofs could scale Ethereum, and eventually built the very first zkRollup on the market. That is something the team is still proud of, the announcement states.

Yet the team says it now has to face reality. After years of trying and fighting, the decision has been made to stop. The closure is not a decision taken lightly, according to the team.

Why Loopring lost out

According to the team, there are multiple reasons for the closure. Loopring’s non-EVM architecture no longer fits the direction the ecosystem is heading. zkEVM solutions, which are compatible with the standard Ethereum environment, have now overtaken Loopring’s architecture. As a result, the project is falling further and further behind.

Added to this are other factors: limited adoption, weak business development, and large-scale delistings of the LRC token on various exchanges in 2026. This makes Loopring’s position untenable. The Ethereum price is currently at $1.575, a decline of 0.1% over the past 24 hours.

Users need not worry about their assets. Loopring publishes the final balances of all users and deposits assets worth at least $10 directly back to the corresponding Ethereum L1 addresses. All associated gas costs are covered by the team itself. In this way, Loopring tries to treat its users as fairly as possible in this forced farewell.