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Loopring
Loopring DEX was sunset and no longer accepts deposits. The Loopring Team plans to send out deposited assets directly to users.
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Loopring is a ZK Rollup exchange protocol for trading and payments.
- Compromising ≥75% of the Security Council should be the only way (other than bugs) for a rollup to indefinitely block an L2→L1 message (e.g. a withdrawal) or push an invalid L2→L1 message (e.g. an invalid withdrawal) with a <7d exit window.
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About
Loopring is a ZK Rollup exchange protocol for trading and payments.
The section shows the operating costs that L2s pay to Ethereum.
This section shows how "live" the project's operators are by displaying how frequently they submit transactions of the selected type. It also highlights anomalies - significant deviations from their typical schedule.
Loopring DEX sunsets
2026 Jun 28th
Loopring announces the DEX sunset, deposited tokens will be transferred to users.
DeFi Closure Announcement
2025 Jul 31st
Loopring sunsets DeFi features to focus on the L2Layer 2 (L2) is a category of technical solutions aimed to scale the base layer in a trust minimized way. This category includes solutions like rollups as well as state channels and plasma. Other solutions are able to scale further, but with the introduction of additional trust assumptions, which are therefore not trust minimized. Sometimes the term Layer 2 is used to refer to include these solutions too, like validiums and optimiums, but to distinguish between trust minimized and non trust minimized solutions they are often referred to as "light" L2s, opposed to "strong" L2s like rollups..
Funds can be stolen if
Funds can be lost if
Users can be censored if
MEV can be extracted if
Users can force the sequencerA party responsible for ordering and executing transactions on the rollup. The sequencer verifies transactions, compresses the data into a block, and submits the data related to it to enable state reconstruction to Ethereum L1 as a single transaction. The data can be either transaction data or state diffs. to include a withdrawal transaction by submitting a request through L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development. with a 0.02 ETH fee. If the sequencer is down for more than 15d, users can use the exit hatch to withdraw their funds. The sequencer can censor individual deposits, but in such case after 15d users can get their funds back.
SNARKs are succinct zero knowledge proofs that ensure state correctness, but require trusted setupGeneration of a piece of data that must then be used for some cryptographic protocol to run. Generating this data requires some secret information. The "trust" comes from the fact the secret must be destroyed after the ceremony, otherwise cryptographic properties of the protocol could be broken. Once the data is generated, and the secrets are forgotten, no further participation from the creators of the ceremony is required. There are two types of trusted setups for SNARKs: (i) trusted setup per circuit where it is generated from scratch for each circuit, (ii) trusted universal setup per proving system where it can be used for several circuits..
All of the data needed for proof construction is published on Ethereum L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development..
There is no window for users to exit in case of an unwanted upgrade since contracts are instantly upgradable.
Users are able to trustlessly exit by submitting a Merkle proof of funds.
Rollup operators cannot compromise the system, but being application-specific might bring additional risk.
Loopring provides an orderbook decentralized exchange for spot trading. Arbitrary contracts are not supported.
All data required for proofs is published onchain
All the data that is used to construct the system state is published onchain in the form of cheap calldata. This ensures that it will always be available when needed.
EthereumEach update to the system state must be accompanied by a ZK proof that ensures that the new state was derived by correctly applying a series of valid user transactions to the previous state. These proofs are then verified on Ethereum by a smart contract.
Funds can be lost if the proof system is implemented incorrectly.
Groth16A zk-SNARK proving system introduced by Groth in 2016 that proves arithmetic circuits and requires a separate trusted setup for each circuit. It allows extremely efficient proof verification. requires a circuitA program written for the purpose of being proven within a proving system. A circuit is a mathematical representation of the computation to be executed, arithmetic circuits and zkVM execution trace are examples of circuits. Circuits can be written in different languages, ranging from low-level to high-level. specific trusted setupGeneration of a piece of data that must then be used for some cryptographic protocol to run. Generating this data requires some secret information. The "trust" comes from the fact the secret must be destroyed after the ceremony, otherwise cryptographic properties of the protocol could be broken. Once the data is generated, and the secrets are forgotten, no further participation from the creators of the ceremony is required. There are two types of trusted setups for SNARKs: (i) trusted setup per circuit where it is generated from scratch for each circuit, (ii) trusted universal setup per proving system where it can be used for several circuits., so they run their own ceremony. The first phase is run using Powers of Tau ceremony. Some of the instructions on how to regenerate the verification keys can be found here.
Each update to the system state must be accompanied by a ZK proof that ensures that the new state was derived by correctly applying a series of valid user transactions to the previous state. These proofs are then verified on Ethereum by a smart contract.
Past upgrades
The metrics include upgrades on the currently used proxy contracts. Historical proxy contracts and changes of such are not included.
2026 July 10, 10:31 UTCHigh severity7changesExtended simple distributor contract on top of ExchangeV3 proxy with the functionality to batch distribute NFTs: https://disco.l2beat.com/diff/eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a/eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388. ERC-20 tokens still have to be sent out manually.
Extended simple distributor contract on top of ExchangeV3 proxy with the functionality to batch distribute NFTs: https://disco.l2beat.com/diff/eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a/eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388.
ERC-20 tokens still have to be sent out manually.
| contract ExchangeV3 (eth:0x0BABA1Ad5bE3a5C0a66E7ac838a129Bf948f1eA4) [N/A] { | |
| +++ description: None | |
| sourceHashes.1: | |
| - | "0xac16617aa5dbef15d7ade7f376b240d9a040b65a8ab552f5408e97e29168fd41" |
| + | "0x81db0f4c00a619fd3fea57b1c9a4d3dcb0220158cd03876a0176cf25899f44c2" |
| values.$implementation: | |
| - | "eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a" |
| + | "eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388" |
| values.$pastUpgrades.9: | |
| + | ["2026-07-09T12:39:59.000Z","0xc3371471d0daa75094515baac093f12c217b1e0147ddcf992496fcca9ea4721b",["eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388"]] |
| values.$upgradeCount: | |
| - | 9 |
| + | 10 |
| values.implementation: | |
| - | "eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a" |
| + | "eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388" |
| implementationNames.eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a: | |
| - | "ProxyAdminExecutor" |
| implementationNames.eth:0xB2de2bff671b03612a0Fa3340E0e0eE7e1C0a388: | |
| + | "ProxyAdminExecutor" |
| } | |
2026 June 29, 10:51 UTCHigh severity22changesStopped normal operation of Loopring exchange. Upgraded the exchange contract to a simple ProxyAdminExecutor (https://flat.l2beat.com/address/eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a) that lets the proxy admin (Loopring multisig) to execute arbitrary calls from the context of the proxy. Presumably that will be used to distribute tokens locked in the Loopring exchange.
Stopped normal operation of Loopring exchange.
Upgraded the exchange contract to a simple ProxyAdminExecutor (https://flat.l2beat.com/address/eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a) that lets the proxy admin (Loopring multisig) to execute arbitrary calls from the context of the proxy.
Presumably that will be used to distribute tokens locked in the Loopring exchange.
| contract ExchangeV3 (eth:0x0BABA1Ad5bE3a5C0a66E7ac838a129Bf948f1eA4) [N/A] { | |
| +++ description: None | |
| sourceHashes.1: | |
| - | "0x3905bcba44c20ed32e392737f7ef97fd5a9a6cacf6ad39bd81ae701eded88bee" |
| + | "0xac16617aa5dbef15d7ade7f376b240d9a040b65a8ab552f5408e97e29168fd41" |
| values.$implementation: | |
| - | "eth:0x26d8Ba776a067C5928841985bCe342f75BAE7E82" |
| + | "eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a" |
| values.$pastUpgrades.7: | |
| + | ["2026-06-29T07:46:47.000Z","0x9515d5aeed96ebdc21f10ec4d22c796a3dc752e5731bcfcb4dbe7e33a09cc496",["eth:0x9cFA61e1472f648cd01Ff05E658987A2abA40F1B"]] |
| values.$pastUpgrades.8: | |
| + | ["2026-06-29T10:24:47.000Z","0xecb93127c952956993d2247504aecf504b4e48a26bcd758276242ec10ea35274",["eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a"]] |
| values.$upgradeCount: | |
| - | 7 |
| + | 9 |
| values.domainSeparator: | |
| - | "0xf35e902e19c9d66a100a3d9b39430a988f9b8d41331d6f346f5c540ef8803264" |
| values.getAgentRegistry: | |
| - | "eth:0x39B9bf169a7e225ba037C443A40460c77438ea14" |
| values.getAmmFeeBips: | |
| - | 20 |
| values.getDepositContract: | |
| - | "eth:0x674bdf20A0F284D710BC40872100128e2d66Bd3f" |
| values.getDomainSeparator: | |
| - | "0xf35e902e19c9d66a100a3d9b39430a988f9b8d41331d6f346f5c540ef8803264" |
| values.getExchangeStake: | |
| - | 0 |
| values.getMaxAgeDepositUntilWithdrawable: | |
| - | 1296000 |
| values.implementation: | |
| - | "eth:0x26d8Ba776a067C5928841985bCe342f75BAE7E82" |
| + | "eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a" |
| values.isInWithdrawalMode: | |
| - | false |
| values.isShutdown: | |
| - | false |
| values.owner: | |
| - | "eth:0x153CdDD727e407Cb951f728F24bEB9A5FaaA8512" |
| values.pendingOwner: | |
| - | "eth:0x0000000000000000000000000000000000000000" |
| values.version: | |
| - | "3.6.0" |
| implementationNames.eth:0x26d8Ba776a067C5928841985bCe342f75BAE7E82: | |
| - | "ExchangeV3" |
| implementationNames.eth:0xB40973B8bffDe1553AE05DE4b298610524E1c37a: | |
| + | "ProxyAdminExecutor" |
| } | |
| - | Status: DELETED |
| contract LoopringIOExchangeOwner (eth:0x153CdDD727e407Cb951f728F24bEB9A5FaaA8512) [N/A] | |
| +++ description: None | |
| - | Status: DELETED |
| contract AgentRegistry (eth:0x39B9bf169a7e225ba037C443A40460c77438ea14) [N/A] | |
| +++ description: None | |
2025 August 14, 07:46 UTC3changessigner change.
signer change.
| contract LoopringMultisig (0xDd2A08a1c1A28c1A571E098914cA10F2877D9c97) { | |
| +++ description: None | |
| values.$members.2: | |
| - | "eth:0x3b1D1F89E0b6803174A2dE72e21A6f6f8464d5F1" |
| values.$threshold: | |
| - | 3 |
| + | 2 |
| values.multisigThreshold: | |
| - | "3 of 4 (75%)" |
| + | "2 of 3 (67%)" |
| } | |
2025 August 11, 10:57 UTC4changesms change. also added milestone for the DeFi sunset.
ms change. also added milestone for the DeFi sunset.
| contract LoopringMultisig (0xDd2A08a1c1A28c1A571E098914cA10F2877D9c97) { | |
| +++ description: None | |
| values.$members.2: | |
| - | "eth:0x88f8Dbd3dC44c6E2e368258D3eee8EB9A07aF191" |
| values.$members.4: | |
| - | "eth:0x7414eA41bd1844f61e8990b209a1Dc301489baa9" |
| values.$threshold: | |
| - | 4 |
| + | 3 |
| values.multisigThreshold: | |
| - | "4 of 6 (67%)" |
| + | "3 of 4 (75%)" |
| } | |
2025 July 14, 12:45 UTC12changesDiscovery rerun on the same block number with only config-related changes.
Discovery rerun on the same block number with only config-related changes.
New and verified contracts
| + | Status: CREATED |
| contract ExchangeV3 (0x0BABA1Ad5bE3a5C0a66E7ac838a129Bf948f1eA4) | |
| +++ description: None | |
| + | Status: CREATED |
| contract LoopringIOExchangeOwner (0x153CdDD727e407Cb951f728F24bEB9A5FaaA8512) | |
| +++ description: None | |
| + | Status: CREATED |
| contract AgentRegistry (0x39B9bf169a7e225ba037C443A40460c77438ea14) | |
| +++ description: None | |
| + | Status: CREATED |
| contract ProtocolFeeVault (0x4b89f8996892d137c3dE1312d1dD4E4F4fFcA171) | |
| +++ description: None | |
| + | Status: CREATED |
| contract ForcedWithdrawalAgent (0x52ea1971C05B0169c02a0bBeC05Fe8b5E3A24470) | |
| +++ description: Auxiliary contract able to force withdrawals from L1 on behalf of users. | |
| + | Status: CREATED |
| contract BlockVerifier (0x6150343E0F43A17519c0327c41eDd9eBE88D01ef) | |
| +++ description: None | |
| + | Status: CREATED |
| contract DefaultDepositContract (0x674bdf20A0F284D710BC40872100128e2d66Bd3f) | |
| +++ description: None | |
| + | Status: CREATED |
| contract LoopringCoin V2 Token (0xBBbbCA6A901c926F240b89EacB641d8Aec7AEafD) | |
| +++ description: None | |
| + | Status: CREATED |
| contract LoopringMultisig (0xDd2A08a1c1A28c1A571E098914cA10F2877D9c97) | |
| +++ description: None | |
| + | Status: CREATED |
| contract LoopringV3 (0xe56D6ccab6551932C0356E4e8d5dAF0630920C71) | |
| +++ description: None | |
| + | Status: CREATED |
| contract FastWithdrawalAgent (0xec3Cc6Cf0252565b56FC7AC396017Df5b9B78a31) | |
| +++ description: None | |
| + | Status: CREATED |
| contract UserStakingPool (0xF4662bB1C4831fD411a95b8050B3A5998d8A4A5b) | |
| +++ description: None | |
The system has a centralized operator
The operatorAn operator is the entity charged with managing a rollup and progressing its state. A rollup operator can be a centralized sequencer, proposer, prover, challenger, pauser of admin that is able to perform upgrades. is the only entity that can propose blocksAn ordered list of transactions and chain-related metadata that gets bundled together and published to the L1/DA layer. Nodes execute the transactions contained within blocks to change the rollup chain’s state. Protocol rules dictate what constitutes a valid block, and invalid blocks are skipped over.. A live and trustworthy operator is vital to the health of the system.
MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.
Users can force exit the system
Force exit allows the users to escape censorship by withdrawing their funds. The system allows users to force the withdrawal of funds by submitting a request directly to the contract onchain. The request must be served within a defined time period. If this does not happen, the system will halt regular operation and permit trustless withdrawal of funds.
Users can be censored if the operator refuses to include their transactions. However, there exists a mechanism to independently exit the system.
Regular exit
The user initiates the withdrawal by submitting a regular transaction on this chain. When the blockAn ordered list of transactions and chain-related metadata that gets bundled together and published to the L1/DA layer. Nodes execute the transactions contained within blocks to change the rollup chain’s state. Protocol rules dictate what constitutes a valid block, and invalid blocks are skipped over. containing that transaction is settled the funds become available for withdrawal on L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development.. ZK proofs are required to settle blocks. Finally the user submits an L1 transaction to claim the funds.
Forced exit
If the user experiences censorship from the operatorAn operator is the entity charged with managing a rollup and progressing its state. A rollup operator can be a centralized sequencer, proposer, prover, challenger, pauser of admin that is able to perform upgrades. with regular exit they can submit their withdrawal requests directly on L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development.. The system is then obliged to service this request. Once the force operation is submitted and if the request is serviced, the operation follows the flow of a regular exit.
Emergency exit
If the 15d deadline passes and the forced exit is still ignored the user can put the system into Withdrawal Mode, disallowing further state updates. In that case everybody can withdraw by submitting a merkle proof of their funds with their L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development. transaction.
Ethereum
Actors:
A Multisig with 2/3 threshold. This multisig owns BlockVerifier, ForcedWithdrawalAgent, and LoopringV3, and is the proxy owner of ExchangeV3. This allows it to arbitrarily change the forced withdrawal fee, change the VerifierAn entity in a ZK-Rollup, often a smart contract, that verifies zero-knowledge proofs submitted by a prover. address, and upgrade ExchangeV3 without delay.
The proxy owner can execute arbitrary code from the context of ExchangeV3, including sending tokens to arbitrary addresses.
Ethereum
Main Loopring contract. It was upgraded to the ProxyAdminExecutor implementation on 2026-06-29.
ERC 20 token basic deposit contract. Handles user deposits and withdrawals.
Contract managing LRC staking for exchanges (one Loopring contract can manage many exchanges). It also allows to change the forced withdrawal fee and the VerifierAn entity in a ZK-Rollup, often a smart contract, that verifies zero-knowledge proofs submitted by a prover. address.
Auxiliary contract allowing users to process fast withdrawals.
Auxiliary contract able to force withdrawals from L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development. on behalf of users.
zkSNARK VerifierAn entity in a ZK-Rollup, often a smart contract, that verifies zero-knowledge proofs submitted by a prover. based on ethsnarks library.
The current deployment carries some associated risks:
Funds can be stolen if a contract receives a malicious code upgrade. There is no delay on code upgrades (CRITICAL).