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Loopring, an Ethereum zkRollup project, is shutting down its decentralized exchange after the platform failed to gain meaningful adoption.
The project said it will return all remaining user funds through a smart contract upgrade, and will cover transaction costs so users face no fees to recover their holdings.
What the Shutdown Means for Users The fund-return mechanism distinguishes this wind-down from typical protocol failures.
Rather than requiring users to manually withdraw assets and pay Ethereum gas costs, Loopring said the process will be handled through a smart contract upgrade — meaning the protocol itself executes the returns.
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