In a world where dreams often seem out of reach, we find ourselves humbled and elated to share a remarkable achievement with all of you: Tap has reached an incredible milestone of 150,000 users and counting! Today, we take a moment to pause, reflect, and appreciate the extraordinary journey that has brought us here.

As we trace our steps back to the beginning, we are reminded of the countless hours, late nights, and tireless efforts poured into building something meaningful— Tap, a financial app that would make a difference in people's lives.

Our dedicated team of talented individuals, driven by a shared vision, embarked on this magical journey with a humble determination to reshape the future of finance.

Together, we faced challenges, learned from our mistakes, and celebrated small victories along the way. It was a journey filled with passion, resilience, and unwavering belief in the transformative power of our app. But we couldn't have come this far without the unwavering support and trust of our incredible user community.

To every single user who embraced Tap, believed in our mission, and allowed us to be a part of their financial lives, we express our deepest gratitude. Your feedback, enthusiasm, and inspiring stories have fueled our motivation and guided us on the path to improvement.

From the stories of individuals triumphing over debt, saving for their first homes, or pursuing their entrepreneurial dreams, we have witnessed the impact of our app in transforming lives. It is your dedication, commitment, and unwavering belief in our shared journey that has brought us to this momentous milestone.

But let us not rest on our laurels. As we celebrate this remarkable achievement, we look to the future with eager anticipation.

The landscape of finance is ever-evolving, and together, we have the power to shape its course. It is our collective responsibility to continue building a future of finance that is inclusive, empowering, and accessible to all.

As we navigate the uncharted territories ahead, we remain committed to listening, learning, and evolving. We will continue to harness our team's collective knowledge, passion, and expertise to bring you even more groundbreaking features, enhanced user experiences, and financial solutions that inspire and uplift.

With hearts full of gratitude and excitement, we celebrate this moment. To our dedicated team, our invaluable user community, and all the individuals who believe in our mission, we extend our deepest appreciation.

Together, let us forge ahead and build the future of finance that transforms lives and paves the way for countless new dreams to be realized.

The Basic Attention Token (BAT) is a utility token designed to transform the digital advertising space. Developed for the Brave web browser ecosystem, BAT aims to create a fairer and more transparent advertising model for both users and advertisers. By incentivizing user attention and rewarding them with BAT for engaging with ads, the Brave browser ecosystem is tackling the inefficiencies and privacy concerns in digital advertising. 

What is Basic Attention Token (BAT)?

Basic Attention Token (BAT) is an Ethereum-based utility token integrated into the privacy-focused Brave browser. Launched in 2016, Brave aims to revolutionize the digital advertising industry by promoting fairness and transparency between advertisers, publishers, and users.

Users receive cryptocurrency rewards in the form of BAT for viewing ads, which allows publishers to deliver more impactful advertisements. This empowers advertisers to make better use of their budgets and better target their target audience. Users then have the flexibility to hold, exchange, or use BAT to support their favorite content creators.

BAT acts as a settlement currency for publishers within the Brave browser ecosystem, facilitating transactions between advertisers, publishers, and users based on their web activity. This token streamlines business between the three parties.

Since its inception, Brave has gained popularity among crypto users and established partnerships with reputable blockchain companies, cementing its position as a leader in the blockchain-based digital advertising space. Through BAT, which launched in 2018, Brave aims to transform the digital advertising economy.

Who created Basic Attention Token?

Basic Attention Token (BAT) was founded by Brendan Eich and Brian Bondy, two highly regarded individuals in the internet browsing software sector. Eich is the co-founder and former CTO of Mozilla Firefox and the inventor of Javascript while Bondy is an influential software engineer with an impressive resume. 

A year after launching the Brave web browser, the pair launched an initial coin offering for the Basic Attention Token (BAT), raising $35 million in just 30 seconds. Selling 1 billion BAT tokens, this is one of the fastest sell-out ICOs of all time. Half of the tokens sold during the ICO were reserved by Brave Software, the parent company of the platform and token; 300 million of the reserved tokens were kept for future sale and promotion while 200 million were allocated to the Brave team. 

According to the website, the BAT token has a team of 16 members behind it.

How does BAT work?

The Basic Attention Token (BAT) operates on the Brave browser, a privacy-focused platform developed by the team behind the token. Brave is a free browser that prioritizes user control, loading pages significantly faster than its competitors. Unlike other browsers, Brave only serves advertisements if users opt-in to view them.

Within the Brave browser, users can participate in the Brave Rewards program, which enables them to earn BAT for their attention. They can choose to view privacy-respecting ads or support their favorite content creators by sending them BAT through the Brave Rewards Creators program. By default, Brave blocks trackers and ads, ensuring a more secure and private browsing experience. When users opt-in to view ads, they are only presented with ads from trusted partners, and they are rewarded in BAT for engaging with them.

Publishers are rewarded with BAT based on user attention to their content, encouraging the delivery of higher-quality ads. This rewards system benefits both publishers, who can generate more revenue, and advertisers, who achieve a better return on investment for their advertising budget.

Additionally, users can exchange BAT for various services on the platform and gain access to select premium content. The ultimate goal is to provide users with more control over their online experience while empowering publishers and advertisers with a more transparent and effective advertising platform.

To track the movement of BAT and facilitate transactions, Brave utilizes the Brave Micropayments Ledger. This ledger allows advertisers, publishers, and readers to enter into smart contracts and transfer payments securely. Brave is also exploring the use of zero-knowledge proofs in its blockchain to provide anonymity in online media transactions.

Privacy and security are paramount in the Brave browser. Advertisers on Brave are verified, reducing the risk of fraudulent ads and ensuring a safer browsing experience. Users' private data and tracking information are stored only on their devices, preserving their anonymity.

To address fraud and privacy concerns, Brave and BAT have implemented robust security measures. The browser eliminates third-party traffic sourcing and utilizes Basic Attention Metrics (BAM) to reduce fraud. The open-source code is auditable, and attention and engagement are verified using Zero-Knowledge Proof (ZKP) protocols. Ads and payouts are rate-limited, and token awards from the user growth pool are distributed gradually to discourage bot operations.

What is the BAT token?

In traditional advertising, advertisers pay rates based on the number of viewers their ads receive. With no guarantee that these viewers are paying attention, BAT seeks to address this issue by incentivizing users to pay attention to ads.

When users view ad content on the Brave browser, they are rewarded with BAT tokens as a form of revenue sharing while the publishers and advertisers are rewarded for the most active advertising campaigns. These Brave rewards incentivize users to engage with the ads and provide advertisers with the assurance that their ads are being seen by an attentive audience. Advertisers are willing to pay a premium for this undivided attention.

BAT can be exchanged for cash or held in a digital wallet. Additionally, it can be traded on various cryptocurrency exchanges, allowing users to buy or sell BAT tokens. It's important to note that BAT has a limited supply, initially capped at one billion BAT tokens but later revised to 1.5 billion.

The Basic Attention Token price is influenced by the price of Ethereum since it is an ERC-20 token built on the Ethereum blockchain. As the price of Ethereum fluctuates, the Basic Attention Token price will adjust proportionally.

At the time of writing, the Basic Attention Token had a circulating supply of 1.489 billion BAT tokens, 99% of the maximum total supply.

How can I buy Basic Attention Token?

Whether you're interested in exploring the Basic Attention Token ecosystem or expanding your investment portfolio, you have the convenient option to purchase or sell Basic Attention Token tokens directly through the Tap app.

Tap is a fully licensed and regulated fintech platform that provides a secure avenue not only for purchasing BAT tokens but also for trading, storing, and utilizing them. The integrated technology also ensures that traders have access to the best Basic Attention Token price at all times.

To get started, simply download the app, create an account, and complete a quick identity verification process, which is a legal requirement that typically takes less than 5 minutes. Once your account is set up, you can deposit either cryptocurrency or fiat funds and immediately tap into the coin's circulating supply by trading BAT tokens. The platform supports various leading cryptocurrencies and fiat currencies, enabling individuals from anywhere in the world to empower their financial journey.

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Investors looking to establish a passive income stream often turn to a dividend investing strategy as it provides regular payments from their investments. While dividend investing might sound intimidating to beginner investors, the truth is that with adequate research and understanding it is very simple to tap into.

Dividends are a portion of a company's earnings that are distributed to its shareholders and can provide a reliable source of income (also referred to as dividend income) over the long term. However, not all dividend-paying stocks are created equal, and investors need to carefully evaluate the companies they invest in to make sure that they are making sound financial decisions.

In this article, we will provide six tips for dividend investing that can help investors choose the right stocks and maximize their returns in terms of dividend payments.

Look to mature companies

When implementing a dividend investing strategy and looking at which stocks pay dividends, it is generally advisable to focus on established, mature companies rather than start-ups. Established companies have a proven track record of stability and success, which can provide investors with a sense of security and confidence. Investors will also often research a company's dividend yield to confirm their decision.

A dividend yield is a dividend per share divided by the price per share. It can also be calculated as a company's total annual dividend payments divided by its market capitalization if the number of shares is constant. A good dividend yield is anywhere from 2% - 6%, the higher the better. Lower dividend yields can make a stock appear less competitive relative to its industry.

Mature companies typically have a more predictable revenue stream, which makes it easier to forecast their future earnings and dividends. They also tend to have a history of paying dividends consistently, which is a crucial factor for dividend investors.

Ultimately, it is important for investors to carefully evaluate the financial health and stability of any company they are considering investing in, but for those seeking consistent dividends, established, mature companies are typically a safer and more reliable option.

Look at the company’s dividend payout ratio

The dividend payout ratio represents the proportion of the company's net income that is distributed to shareholders as dividends. This ratio is expressed as a percentage of the company's earnings that are paid out to its shareholders in the form of dividend income.

The payout ratio gives investors a look at how much income is being paid to investors and how much is being retained and used by the company. If a company with high-yield dividend stocks has a high payout ratio (i.e. paying out a large portion of its income to shareholders) this should raise red flags as if this income stream diminishes the dividend income will too. 

Stability pays out in the long run

When looking for dividend-paying stocks, it is important to prioritize stability over quantity. This means choosing companies with a proven track record of steady earnings and consistent dividend payments, rather than simply seeking out the highest dividend yield. 

By selecting quality investments, investors can minimize their risk exposure and reduce the likelihood of unexpected drops in dividend payouts or stock value. Additionally, companies with strong financial health are better positioned to weather market volatility and economic downturns, which can help to protect investors' portfolios in the long term. 

Ultimately, prioritizing stability over quantity is key for any dividend investing strategy.

Always establish your financial goals early on

When looking at buying dividend-paying stocks, first establish a few key goals, like whether growth investing or value investing is a priority for your investment strategy. This will help you determine which companies to seek out, and whether your portfolio can incorporate younger companies. While mature ones will offer consistent and steady payouts, newer ones might present impressive dividend yields in the short term.

By establishing your financial goals before investing you will be able to create a formula to follow that allows you to explore a potentially wider range of options. Always be sure to look at past and present returns and consider the company’s future potential. This will help to establish how profitable the company might be in the future from a dividend growth perspective. 

Know when to cut your losses

Investing in dividend stocks requires a balance between patience and knowing when to cut your losses. While waiting for an investment to pay off can be tempting, holding onto a failing stock can result in significant losses. Recognizing when a stock is underperforming and taking action is crucial to successful dividend investing. 

It's important to monitor the financial health and performance of a company and reevaluate the investment if it fails to meet expectations. Knowing when to cut your losses and sell a stock that is no longer viable can protect your portfolio and help to prevent significant financial losses. Being aware of market trends and the performance of the companies you invest in is key to making informed investment decisions.

Don’t put all your eggs in one basket

Diversifying your portfolio is crucial when investing in dividend stocks to minimize risk and maximize returns. Putting all your money into one or a few stocks exposes you to significant risk if any of them fail. 

By diversifying across multiple companies and sectors, you can spread your risk and minimize the impact of a single stock's performance on your portfolio. Investing in companies with varying levels of financial health and dividend yields can help to create a more balanced portfolio.

Diversification is a key strategy for long-term dividend investors who want to build a stable and sustainable source of passive income while mitigating the risk of significant financial losses.

Additionally, some investors opt to implement a dividend investment strategy that looks to increase dividend yields over time. This process centers around dividend reinvestment which essentially means reinvesting the dividend payout one received. This over time will contribute to dividend growth, in the same way as compound interest works.

In conclusion

Investing in dividend-paying stock is an excellent way of building passive income streams while still building an impressive investment portfolio. With the right approach and adequate research, this can contribute to significant gains for your greater financial goals. 

The golden key is to gauge which stocks, in this case, dividend stocks, provide the strongest returns with minimal risk, and which stocks have the highest dividend growth potential. Implement these 6 golden rules above to better position yourself for success.

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While we’re super excited to move into our new era of financial inclusion, it seems a few are getting caught up in the nostalgia of the old Tap. We get it, Tap Global still sounds iconic, but as we embark on our new chapter, we’ve dropped the Global and are rolling as just Tap. Rest assured, while we embrace this new identity, we remain dedicated to the core values and exceptional services that have made Tap a trusted name in the industry.

As we forge ahead into the future, combining innovation with a touch of familiarity that we know you'll love, we invite you to join us. We’ve noticed, however, that some people are still using the old lingo in their Google searches, so in the spirit of leaving no man or woman behind, here are our answers to your burning questions. 

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Is Tap legit?

Yes, Tap is a legitimate company in the fintech industry. It is a well-known and reputable organization that provides services for buying, selling, spending, and storing crypto and fiat currencies. 

Through our user-friendly mobile app and commitment to enhancing security measures, we provide an all-rounded financial service that is not only licensed and regulated by the Gibraltar Financial Services Commission but also audited by PKF. 

Check out our website, app, and reviews if you want to understand just “how legit” we are.  

Is Tap safe?

If there’s one thing to be sure of it’s that we take security measures very, very seriously. 

We employ industry-leading security practices and technologies to protect user data and transactions and have designed our mobile app with a particular focus on security, utilizing encryption and other security protocols to safeguard sensitive information.

However, it is important to note that no system is completely immune to risks and for that, we have implemented safeguards too. We not only encourage users to exercise caution and follow best practices such as setting strong passwords, enabling two-factor authentication, and regularly updating their devices and software, but we also have insurance policies in place should any of our multi-layered security barriers become compromised.

Is Tap available in USA?

Is Tap available in the US?

We appreciate your interest in Tap. Currently, our app's availability varies globally due to a myriad of factors that go into each market entry. While we strive to cater to as wide a user base as possible, it's important to us that we adhere to all regulatory and compliance measures, ensuring a secure and dependable platform for all our users.

As for your query regarding the United States, we don't have a definitive answer at the moment. Our focus is on delivering the best possible experience for our current users while exploring potential avenues for growth.

We always encourage our users to stay updated with our platform for any announcements.

While waiting for our launch in the land of the free, we are offering users an opportunity to join the Tap waiting list program and earn up to $100 in referral rewards for each friend you invite.

Is Tap a bank?

Technically referred to as a Fintech, Tap is a financial technology company that provides services related to crypto and fiat currencies. Through the licensed and regulated platform, users are able to buy, sell, spend, and store a wide range of crypto and fiat currencies.

Your Tap account also comes with a complimentary Tap prepaid Mastercard which allows you to spend any of your stored currencies at merchants and ATMs around the world. 

In short, Tap is a Fintech and does not offer traditional banking services like loans. 

Is Tap a good investment?

As a reputable fintech platform, we will never provide financial advice or make specific investment recommendations. The decision to consider Tap or any other investment opportunity should be based on your own thorough research, careful consideration of your financial goals and risk tolerance, and consultation with a qualified financial advisor if accessible. 

What we can offer is a guideline to use when evaluating an investment. It is essential to assess various factors, including the company's track record, market conditions, its leadership, and the potential risks and rewards associated with the investment. It is also important to consider that investments in cryptocurrencies can be volatile and subject to market fluctuations.

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Bonus question: will Tap be called "faucet" in the USA?

While not exactly a Google search, a fair question from Dave in the comments section: will Tap be called "faucet" in the USA? Despite the American version of the same device being referred to as a faucet, that answer is a definite no. Tap will remain true to its roots and still be called Tap when launching in the USA. 😉

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For traders new to the industry, understanding the complex world of finance can be intimidating. However, mastering the basics is crucial to making informed investment decisions. One of the key concepts that all traders should know is financial ratios. 

Financial ratios are used to analyze a company's financial health and performance, providing valuable insights to investors. In this article, we'll explore what financial ratios are, the different types of ratios, and how they can benefit traders.

What is a financial ratio?

A financial ratio is a mathematical calculation that is used to analyze the relationship between different financial variables. The goal of financial ratios is to provide investors with a snapshot of a company's financial health, helping them make informed decisions about whether to invest in a particular company. 

Financial ratios can be used to compare companies within the same industry or to analyze a company's performance over time.

The different types of financial ratios

There are many different types of financial ratios, but they can generally be categorized into four main groups: liquidity ratios, solvency ratios, profitability ratios, and valuation ratios.

Liquidity ratios

Liquidity ratios measure a company's ability to pay off its short-term debt. The most commonly used liquidity ratio is the current ratio, which is calculated by dividing a company's current assets by its current liabilities. A current ratio of 2 or higher is generally considered good, indicating that a company has enough current assets to cover its current liabilities.

Solvency ratios

Solvency ratios, on the other hand, measure a company's ability to pay off its long-term debt. One commonly used solvency ratio is the debt-to-equity ratio, which is calculated by dividing a company's total debt by its total equity. A high debt-to-equity ratio may indicate that a company is heavily reliant on debt financing, which can be risky for investors.

Profitability ratios

Profitability ratios measure a company's ability to generate profits. There are many different profitability ratios, but some of the most commonly used include the gross profit margin, net profit margin, and return on equity (ROE). 

The gross profit margin is calculated by dividing a company's gross profit by its revenue. The net profit margin is calculated by dividing a company's net profit by its revenue. ROE is calculated by dividing a company's net income by its total equity. These ratios can be used to compare a company's profitability to its competitors within the same industry.

Valuation ratios

Valuation ratios are used to measure the value of a company's stock. One commonly used valuation ratio is the price-to-earnings (P/E) ratio, which is calculated by dividing a company's current stock price by its earnings per share (EPS). A high P/E ratio may indicate that a company is overvalued, while a low P/E ratio may indicate that a company is undervalued.

The benefits of important financial ratios

There are several benefits of using financial ratios for investment analysis. First, financial ratios provide a quick and easy way to analyze a company's financial health and performance. By looking at a few key ratios, traders can get a sense of whether a company is financially sound or if there are red flags that should be investigated further.

Financial ratios can also be used to compare companies within the same industry. By comparing a company's ratios to its competitors, traders can get a sense of how the company is performing relative to its peers.

Finally, financial ratios can be used to analyze a company's financial performance over time. By tracking a company's ratios over multiple years, traders can get a sense of whether the company is improving or declining.

How financial ratios are used

Financial ratios can be used in a variety of investment contexts. For example, if a trader is considering investing in a particular company, they may want to look at the company's current ratio and debt-to-equity ratio to get a sense of its financial health. If the company has a high current ratio and a low debt-to-equity ratio, this may indicate that it is financially stable and a good investment opportunity.

Financial ratios can also be used in conjunction with other forms of analysis, such as fundamental analysis or technical analysis, to make more informed investment decisions.

In addition, financial ratios can be used by traders to identify potential red flags or warning signs. For example, if a company has a low profitability ratio, this may indicate that it is not generating enough profits to sustain its operations and may be at risk of financial distress.

Financial terms relevant to financial ratios

Below are several terms that are relevant to understanding financial ratios:

Net income

Net income is the income that a company has after deducting all its expenses from its revenues. Net income is calculated by subtracting the total expenses from the total revenues.

Turnover ratio

The turnover ratio is a measure of how efficiently a company is using its assets to generate revenue, more specifically, how low it takes a business to sell the stock they have spent money on acquiring. It is calculated by dividing the sales or revenue generated by the value of the assets used to generate that revenue. A good turnover ratio measures between 5 and 10, higher for companies with perishable goods.

Liquidity

Liquidity refers to a company's ability to meet its short-term obligations, such as paying bills and debts. It is an important factor to consider when assessing a company's financial health.

Debt-to-equity ratio

The debt-to-equity ratio is a measure of a company's financial leverage, or how much debt it has compared to its equity. It is calculated by dividing a company's total liabilities by its shareholders' equity.

Return on investment (ROI)

ROI is a measure of how much profit a company is generating relative to the amount of money invested. It is calculated by dividing the net profit by the total investment.

Gross profit margin

The gross profit margin is a measure of how much profit a company is making on its sales after deducting the cost of goods sold. It is calculated by dividing the gross profit by the total revenue.

In conclusion

Financial ratios are an essential tool for beginner traders and experienced investors alike. By providing a snapshot of a company's financial health and performance, financial ratios can help traders make more informed investment decisions. 

While there are many different types of financial ratios, they can generally be categorized into four main groups: liquidity ratios, solvency ratios, profitability ratios, and valuation ratios. Understanding the different types of ratios and their significance is crucial to mastering the basics of finance and making sound investment decisions.

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Addressing the speed and cost concerns associated with the Ethereum platform and decentralized cryptocurrency exchanges, Loopring delivers a new layer to the DeFi space. Describing itself as “an open-source, audited, and non-custodial exchange protocol,” Loopring is bringing something new and innovative to the space.

Below we answer the burning questions surrounding the DeFi project, such as what is Loopring, how the Loopring protocol works, and what the LRC token is responsible for.

What is Loopring (LRC)?

Loopring is many things. Under the far-stretching umbrella, there is the company, Loopring Project Ltd, the decentralized exchange, Loopring Exchange, the Loopring Protocol, the Loopring Relayer (the backend that powers the protocol), the Loopring Wallet, and the token, LRC.

The layer two protocol is an open DeFi protocol that allows other exchanges to build on top of it. The protocol supports a number of crypto assets and implements zero-knowledge rollups (zkRollups) to address the slow speeds and high costs associated with decentralized exchanges on Ethereum. With zkRollups, Loopring seeks to enable faster settlements for traders by allowing key computations to be completed on other blockchains.

By reducing the number of transactions submitted to the Ethereum network, Loopring exchanges can increase the speed with near-instantaneous settlements and reduce costs for traders.

The Loopring Exchange aims to offer a hybrid platform combining the best features of centralized exchanges and decentralized exchanges, addressing issues like structural limitations and transparency. The platform combines centralized order matching with decentralized blockchain order settlement, using zero-knowledge proofs (ZKPs) for enhanced privacy, reduced costs, and high speeds.

LRC tokens were first made available to the public in August 2017 as part of an ICO. In December 2019, the Loopring protocol, built on the Ethereum blockchain, was officially launched. 

Who created Loopring?

Loopring was established by Daniel Wang, a software engineer based in Shanghai. Wang has an impressive resume of prior experience working at prominent companies like Google, medical device manufacturer Boston Scientific, and Chinese e-commerce giant, JD.com. While Wang has continued to serve as the CEO of Loopring Foundation.

In 2017, Loopring conducted an initial coin offering (ICO), successfully raising 120,000 ether valued at $45 million. However, due to the tightening regulatory environment surrounding ICOs in China, the company decided to return 80% of the funds raised from the public sale.

Despite this setback, the Loopring team allocated the remaining proceeds toward the development of their platform.

How does Loopring work?

When you perform a transaction directly on Ethereum (a layer one blockchain) the cost of the transaction depends on the amount of data it contains. Larger transactions, which have more data, require more computing power to process and therefore end up being more expensive. Layer two solutions, on the other hand, tackle this issue by executing transactions outside of layer one, resulting in lower costs and less congestion.

As a layer two solution, Loopring does this by utilizing a newer type of cryptography called zero-knowledge rollups, also known as zkRollups. In the term "zkRollups," the "zk" refers to "zero knowledge." Zero knowledge proof is a cryptographic technique that enables one party to prove the truth of a statement to another party without disclosing any information about that statement.

Rollups, on the other hand, batch transactions together and execute them outside of layer one. So after the transaction data is processed, it is posted back to layer one to reach a consensus. This batching process is what enables transactions on layer two to be more affordable.

The Loopring team responsible for the Loopring protocol is the same team that developed the Loopring Exchange, which was the first zkRollup-based exchange accessible to the public on the Ethereum network. This successful launch demonstrated the protocol's effectiveness and the underlying technology.

Loopring sets itself apart from other trading technologies in the decentralized finance (DeFi) space by utilizing an order book-based approach. While decentralized, trading on a Loopring-powered decentralized exchange (DEX) is more similar to trading on centralized exchanges, which primarily rely on order books, but without the security or custodial concerns. This is in contrast to most decentralized exchanges that heavily rely on user-generated liquidity through automated market maker (AMM) technology.

To illustrate its effectiveness, Loopring can handle up to 2,025 trades per second, which is approximately ten times faster than Ethereum can achieve on its own. On top of that it can also lower transaction fees and the overall transaction cost due to its effective use of layer two technology.

What is the LRC token?

The Loopring cryptocurrency, LRC, plays a crucial role in the operations of the protocol.

To operate a decentralized exchange on Loopring, a minimum of 250,000 LRC needs to be locked up. This allows the exchange operator to utilize on-chain data proofs. Alternatively, an operator can stake 1 million LRC to run an exchange without this feature.

LRC serves as an incentive for the proper utilization of the Loopring network. Exchange operators who deposit LRC may face confiscation of their deposits by the protocol if they operate exchanges poorly. These confiscated funds are then distributed to users who choose to lock up LRC.

Additionally, any user can stake LRC to earn a share of the trading fees paid to the protocol. Approximately 70% of the fees are distributed to users who stake LRC. Another 20% is allocated to the Loopring Decentralized Autonomous Organization (DAO), which allows a pool of funds to be used according to the discretion of Loopring users in the future.

Lastly, 10% of the fees are burned, meaning the total supply of LRC decreases over time, leading to potential upward pressure on its price. The maximum supply of LRC tokens is set at 1.375 billion.

How can I buy LRC tokens?

For those interested in accessing the Loopring (LRC) market, users have the option to buy or sell Loopring LRC tokens through the Tap app.

The user-friendly app allows LRC holders to buy and sell tokens using various fiat currencies or cryptocurrencies, and once purchased, the LRC tokens can be securely stored in unique wallets.

Users have the flexibility to hold their LRC tokens for any duration, trade them for other cryptocurrencies, convert them to fiat currencies, or send them to individuals across the globe. With the Tap app, you can conveniently meet your crypto-related requirements with a seamless and hassle-free experience.

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