INTERNET CITY, DUBAI, Sep. 28, 2022 – LBank Exchange, a global digital asset trading platform, has listed LoopNetwork (LOOP) on September 28, 2022. For all users of LBank Exchange, the LOOP/USDT trading pair is now officially available for trading.
As a super scalable blockchain supporting powerful DeFi platform, LoopNetwork (LOOP) opens the gate for users to take advantage of the fast transferring and trading, with key innovations including PoSA consensus and native cross-chain communication using bridge. Its native token LOOP has been listed on LBank Exchange at 12:00 UTC on September 28, 2022, to further expand its global reach and help it achieve its vision.
As a cryptocurrency system that supports smart contracts without the scalability and privacy limitations of earlier systems like Ethereum, LoopNetwork allows parties to create smart contracts using code to specify the behavior of the virtual machine (VM) that executes the contract’s function.
LoopNetwork strives to solve scalability and usability issues, without compromising decentralization, and leverages the existing developer community and ecosystem. It is an off-chain/external scaling solution for existing platforms to provide scalability and superior user experience for DApps/user features.
The LOOP Chain of LoopNetwork brings EVM-compatible programmability and native cross-chain communication using an innovative consensus of Proof of Stake and Authority (PoSA) that can support short block time and lower fees. With PoSA, a combination of PoA and PoS, blocks are produced by a limited set of validators, they are elected in and out based on a staking based governance, and take turns to produce blocks in a PoA manner, which enables fast block time and cheaper cost.
In addition, since it’s developed for Decentralized Apps, the LOOP Chain enables developers to build Ethereum DApps with minimal configuration changes. There will be no need for them to rewrite or reconfigure their smart contracts cause those smart contracts will work right away.
Developers can simply use Ethereum-based tools they love like MetaMask, Remix, Hardhat, Waffle, and Truffle. The LOOP Chain supports Solidity, Vyper, and anything that compiles to EVM bytecode. Furthermore, it supports native cross-chain transfer and communication, with LoopSwap remaining a liquid venue of exchange of assets.
About LOOP Token
LOOP is the native token of the LoopNetwork. Based on BEP-20, it has a total supply of 200 million (i.e. 200,000,000) tokens, of which 90% is provided for circulating supply, 10% is allocated to the team. It taxes a total of 10% on each buy and sell, of which 6% is allocated for development, and the remaining 4% will be used for marketing.
The LOOP token has been listed on LBank Exchange at 12:00 UTC on September 28, 2022, investors who are interested in the LoopNetwork investment can easily buy and sell LOOP token on LBank Exchange right now. The listing of LOOP token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
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