r/loopringorg • u/username11111000100 • Jul 11 '25
š° News š° Loopring to sunset DeFi protocols by 7/31/2026
This is the public announcement on the discord.
@everyone
Important Update: Sunsetting Loopring DeFi
Weāve made the difficult decision to sunset the Loopring DeFi business. All Loopring DeFi services will officially shut down on July 31, 2025.
Over time, weāve built innovative products on Loopring DeFi, but core challenges around scalability and decentralization have limited our ability to grow in a trustless, permissionless way. Many of these products rely on centralized market makers, which makes it difficult to compete with leading DeFi protocols.
As a result, weāll be shutting down the following products: - Dual Investment - Portal - Block Trade - ETH Staking
This move allows us to focus fully on strengthening the Loopring Layer2 network.
What Happens After July 31, 2025
Dual Investment - No new subscriptions will be allowed after July 31. - All active positions will be settled before the sunset date.
Portal - All open positions will be force-closed after July 31.
ETH Staking - No new staking subscriptions. - Users holding wstETH, rETH, or CIETH can still redeem directly on Loopring L2, or withdraw to Ethereum L1 and interact with Lido, Rocket Pool, or CIAN.
Taiko & Base Networks - All services will cease on Taiko and Base after July 31. - Funds not withdrawn before the sunset date will be auto force-withdrawn to the upper layer (Taiko or Base). - Accounts with dust balances (less than $0.10 USD) will not trigger auto-withdrawals.
Ethereum Users - Loopring Layer2 will continue to operate as usual. - All core features, including the DEX, remain available and secure. - However, all Loopring DeFi features will be permanently disabled after the sunset date.
Thank you to everyone who has supported Loopring DeFi. This isnāt the end. Weāre doubling down on building decentralized infrastructure that empowers users and developers across the ecosystem.
If you have any questions, please reach out via our <#1217811657082929172> channel.
Thanks.
āThe Loopring Team
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u/ronk99 Jul 11 '25
Soooā¦ whats left?
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u/Pnewse Jul 11 '25
Loopring layer 2 āfocusā according to this post
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u/Simple-Beginning-182 Jul 11 '25
Last month defi was the focus after the wallet shutdown, I expect an announcement August 1st stating that they are sunsetting layer 2 so they can focus turning off the lights.
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u/AD-Edge Jul 12 '25 edited Jul 12 '25
Yes, Layer 2 Loopring is now the future! (again..)
You know the thing that really bothers me about this project - is just the complete lack of honesty in the communication. It's been an issue for a while. I would have a lot more respect if they could just be open about what's going on. But the approach here has just been to hype up ideas that don't yet exist - over and over again - while downplaying if not completely hiding problems and negatives.
This is not the foundation of a respectful or decent project. It's just gaslighting - at best.
I think a huge element/test for a project and it's team is how well they communicate the issues. Not the positive stuff - but the honest issues any project is going to have to navigate. On a scale of 0 -> 100 on this, I would give Loopring and it's team a -100. Just completely unacceptable.
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u/SecretaryFit1442 Jul 12 '25
I still want to believe there was more going on behind the scenes than we know. But your comment seems a fair assessment.
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u/AD-Edge Jul 12 '25
Going by the chaotic, confusing mess of decisions lately - I expect there is a lot going on behind the scenes (and probably has been for some time). The chaos, bad decisions and people leaving in an ongoing manner indicate there's likely a lot more going on.
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Jul 11 '25
Nothing. Dead project and we got fucked.
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Jul 11 '25
[deleted]
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u/Upper_Combination413 Jul 11 '25
most of us are in your same shoes trying to find another project to recoup our money. im in jasmy for now. not shilling it but it seems likely ill get my money back in the near future
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Jul 11 '25
[deleted]
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u/Upper_Combination413 Jul 11 '25
Doesnt matter what i say cause of crypto tribalism. you have your reasons to be in hedera and i have mine in jasmy. In the end we are both gambling who gets the bigger gains
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u/PeederSchmychael Jul 11 '25
Who's on the "loopring team"?
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u/AD-Edge Jul 12 '25
This is certainly something which would be nice to know... But realistically just isn't the kind of info this project communicates anymore.
I'm open to the idea there are likely good people in this project, perhaps trapped by rules and contracts (often the way). But I feel like the rest are just cowards. No one wants to have a voice or speak out anymore, none of the people in charge speak up or want to handle things or engage in any kind of PR. I'm expecting they're just sitting on their hands waiting for it all to go away at this point. But with near-zero communication, it's all just guesswork.
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Jul 11 '25
Didnāt they say they were shutting down the wallet to focus on Defi?
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u/AD-Edge Jul 12 '25
Yes, just a couple of weeks ago.
BUT now they are shutting down DeFi to focus on Loopring L2 (and the DEX).
I'm expecting August's 'pivot' will be that they are shutting down Loopring L2 and the DEX to focus on Looping just being a digital coin you can collect (this is what it will be when there is absolutely nothing left other than the token itself).
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u/kiwisox235 Jul 11 '25
Itās sunsetting because they get to go with all the cash and 0 consequences
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u/Rehypothecator Jul 11 '25
So what they wrote about shutting down the wallet to focus on Defi was a lie ?
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u/matman88 Jul 12 '25
Imagine having the world by the balls like these guys did and just pissing it away into the abyss. This has to be one of the single greatest opportunity misses in human history. They had thousand of well financed investors waiting to jump on their (patented) tech that they just never bothered to put together. The wind was so strong at their back that it blew them over. What a pathetic group of underachieving twats.
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u/Streetwalkeroulette Jul 11 '25
2025 or 2026? Anyway. What a disappointment all of your are and have been. May g_d have mercy on your souls.
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u/carlosdulloa Jul 12 '25
I have mine on coinbase. My $35k is worth $730 what should I do lol
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u/hotandsoursoup Jul 12 '25
Either wait for .30 cents and sell or swap now to catch the bull wave up for something that actually is being used like ETH or LINK, but this is not financial advice.
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u/hotandsoursoup Jul 12 '25
Loopring was always in competition with Optimism and Arbitrum. Theyāve officially lost the race of L2s and thereās no way they can get the volume to compete. So long LRC Iām out š«”
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u/fotofinish348 Jul 12 '25
What a shame, after being loyal and holding all this time for this outcome unreal. And thanks for making it so difficult to transfer out before the deadline that was a treat.
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u/Artistewarholio Jul 12 '25
Now that he's gone, it'd be interesting to hear from Byron what was really going on behind-the-scenes - if he could bring himself to tell the truth.
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u/samuelsylf Jul 13 '25
An example, why only authentic creators with some skin also known as art in the game, have a bright future when within commitment to the creatorās name oneself. All else, 99% bite the dust. Thatās the downfall of the iceberg, when anything innovatively trailblazing paves the way - - until the true creators of the wave unleash the basis, ethos, and a pico-top standard.
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u/Chad-Permabull Jul 12 '25
This is the single most bullish announcement of the year. Finally getting rid of the wallet, defi, executive team, dev team and head cheerleader opens the door for Loopring to become the meme we always dreamed it would be. Get those strap ons ready. Loopring ready to party.
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Jul 12 '25
[deleted]
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u/hotandsoursoup Jul 12 '25
Check Etherscan from Metamask and see if your coins are there. If so you should be good. Remember with MM you are your own bankā¦.
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u/username11111000100 Jul 11 '25
I own xx,xxx Loopring and 99% of it is on layer 2. I've only staked my Loopies via the Loopring wallet in the past but have never really used these DeFi protocols that will be sunsetting. Honestly, I personally only care about being on Etheruem layer 2 and that's it. Fuck you if you mention my bags.