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According to L2beat Loopring is losing alot of its marketshare and is steadily declining while competitors are gaining or losing way less. The protocol had a huge drop in TVL on October 14th just in a matter of hours, does someone knows how this happened?
This development doesn't give much confidence that the protocol is able to attract alot of users right now although the team just recently introduced measures to boost TVL like dual investments. What does the team plan on doing to prevent further TVL loss and to stay relevant as a Layer 2?
I was in on Loopring for the past two years. I just converted it all to IMX last night. Loopring was promising at the start with the GME announcement and multiple use cases but over the past few months the project has fallen off significantly. There are many competitor coin technologies doing the same thing and that have a larger audience. Likewise, Loopring left us in the dark for an extended period of time with little to no information. During that time the only thing happening was the continuous dropping of Loopheads… which were pretty lackluster.
That said, as much as I’d hate to miss the rocket - I do hope that things turn around and Loopring in the future can be what I had hoped
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