Loopring to Conduct Scheduled Maintenance on December 27th
Loopring has announced an upcoming upgrade to its backend, which is scheduled to begin on December 28th at 2:00 UTC. This upgrade will result in a temporary downtime for the L2 relayer services.
Refer to the official tweet by LRC:
Loopring💙@loopringorgDec 27, 2023🚨Upgrade Notification🚨
We have an upcoming upgrade to the Loopring backend, scheduled to commence at 10am, December 28th (GMT+8) - approx. 12 hour from now - as a result, our services (L2 relayer services) will experience a temporary downtime during this period
The upgrade is… pic.twitter.com/2WJKJOVRoj
LRC Info
Loopring 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.