I wrote the initial GME and Loopring post, which seemed to help and educate a lot of people on their potential partnership.

As Loopring rocketed yesterday, I wanted to try to explain why so many people are buying LRC. This coin has pure fundamentals, and provides one of the most incredible solutions to a problem we all complain about.

No More Gas Fees (You read the correctly)

Ethereum is a beast (ETH bull here) which is the future of cryptocurrency– but the Gas fees really can affect us. We are tired of paying $150+ in Gas fees, just to transfer or buy $100 worth of a cryptocurrency. That with long delays just to process a transaction can be brutally painful for our wallets!

Therefore, Loopring is being purchased and was the number one cryptocurrency yesterday. Loopring is a secure layer 2 protocol which allows users to transact without gas cost and without delay, while still enjoying the full self-custodial security of Ethereum.

Yes, in the future, there may be more services coming out to reduce Gas fees, but we have this here and now. And it works beautifully.

How does it do this?

Loopring uses a data structure called a Merkle Tree. It’s like an off-chain database where your assets are recorded and represented off the chain. However, you can still trade, make transfers on Ethereum without paying gas fees, as it all happens off chain.

Yes, trading is free. You can literally go from one currency to another. I could take my ETH, and swap this to USDC – no gas cost at all. With Gas these days, that would save me about $200.

Once you’re ready, click ‘Swap’ and your transaction will be executed instantly. No delay, no gas fee. Your L2 balance will be updated.

Its Blazing Fast & Your Funds Are Safe

As Loopring processes all activity off chain, it compresses all transactions into one transaction, and does all the hard work before it processes on the Ethereum network. This means it uses Ethereum’s security protocol, bit can process with a much higher throughput.

Its security is so good that if Loopring stops working, your funds are completely safe. As long as Ethereum exists, you can always withdraw your funds from the rollup.

So, it’s Faster, Safe and What Else?

Loopring also extends this technology to its exchange. The Loopring Exchange is a DEX which has an ANM, an orderbook and a mobile smart wallet. Liquidity staking is also there for anybody who wants to provide their assets to get a return.

With the potential GME partnership, Loopring allows companies to build platforms using its system. For example, a NFT platform, which has the scalability, security and speed of a CEX, whilst being able to cut gas fees as any company will take advantage of Loopring’s Layer 2 protocol.

The Loopring Smart Wallet is perfect for holding assets safely (you have the ability to lock your wallet), but allow perfect for traders who want to take advantage of cryptocurrency swings without having to pay huge gas fees per transactions. You only need to pay a fee to open a wallet. Simply open a wallet, activate it on to L2, and your ready. It’s also near instant to process a transaction.

To Summarise:

To Trade: No Gas Fees

To Add Liquidity: No Gas Fees

To Swap Tokens: No Gas Fees

It’s blazing fast – no more delays or price slips waiting for a transaction to be processed due to high gas fees.

I hope this helps you understand why Loopring is rocketing, and why people are so excited. GME is just one potential partnership it could gain. With an exciting announcement coming in Q4 (mentioned by the Loopring CEO), this is about to rocket up the cryptocurrency coin rankings.

Post Update - 03/11/2021

LRC, NFT’s and Why People Are Talking About GameStop?

I wrote the last two posts on Loopring, which seemed to help and educate a lot of people on their potential partnership with some large companies.

I wanted to talk about why Loopring and NFT’s are being linked to GameStop.

What is GameStop?

If you don’t follow the news or anything financial, GameStop is a company which sells video games, consumer electronics, and gaming merchandise retailer. For a while, GameStop had (and continues) to have a lot of selling pressure by large companies who wanted to see it crash, so they could gain financially. However, the loyalty of its customer base and shareholders has prevented this, and have turn the hooks on companies which shorted it. It has defied anyone who has gone against it, and is continuing to grow. It has also made a lot of people a lot of money who hold the shares.

It has a true following which is loyal and unlike any other company around, and people are willing to keep buying it to watch it succeed. This is what we call a golden supporter base. Apple has it with its products. Samsung with there’s. GameStop has the same thing.

Why is GameStop getting into NFT’s?

A NFT is a single asset usually embedded in an object (like a video game skin, for example) and registered in a blockchain network. It is an encrypted digital record of a piece of art that can be bought, sold, and collected. NFTs, meanwhile, have been on their own popularity surge as everyone from traditional auction houses to billionaires began selling the unique digital collectibles.

GameStop announced they would enter the NTF arena, to a great uproar from customers and shareholders. This was further enhanced by them launching a NFT website: htps://nft.gamestop.com/

GameStop will be launching its platform on the Ethereum marketplace. The NFT marketplace is expected to reach 1-2 trillion dollars in sales in the next few years. With GameStop at the heart of the gaming industry, it has the ability to capture a large part of the gaming market with its NFT’s. With large gaming companies, and large movie producers looking for a industry leading platform to sell their NFT’s, GameStop would be the perfect place for them to get exposure, whilst increasing their revenue through there NFT marketplace.

So Why are GME Holders So Excited and Buying Up Loopring?

The Head of GameStop’s Blockchain is Matthew Finestone. The reason why many are getting excited is that he was Head of Business for Loopring before moving to GameStop. He was responsible for bringing business to Loopring, whilst onboarding other companies onto the Loopring system. One can assume that if GameStop needs a reliable, secure, and fast platform, then they would ask their Head of Blockchain where to go. In this case, it could potentially be Loopring. After all, Matthew Finestone did work for the company. He would potentially know everything he needs to know about the Loopring platform, and could integrate both companies together quite easily.

Furthermore, GameStop is building a team of engineers, designers, gamers, and marketers to really create a NFT platform which is next generational, and the best in the industry.

This along with Ryan Cohen who is known for launching and turning around businesses to make them reach new levels, meaning that backing Loopring and GameStop on a potential partnership could be rewarding for holders.

So, What Does This Mean for Loopring?

Loopring (before any rumours of GME came out) have stated they are going to be launching a free wallet (maybe this wallet can be provided to all users of the potential GME platform). They also stated that a big announcement is coming in Q4 which would be worth 10 times more than any announcement/quarterly report they would announce. Possible rumours include Ubisoft.

This along with rumours that are working with an established partner who is building atop our newly released L2 NFT functionality, is why GME and Loopring holders are pretty excited to see what happens.

I hope it helps to why people keep linking GME and Loopring together. If this partnership is real, then you are linking a viral powerhouse with GME (who’s holders actually care about the company passionately), and Loopring (who has a game changing NFT platform to scale any company), which can cause an immediate impact to the global NFT marketplace.

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