DeFi Resurgence: Loopring's Layer 3 Solution Bridges CeFi and DeFi

Loopring has completed its Layer 2 NFT return to Ethereum mainnet, delivering **2,046 NFTs** (544 ERC721 + 1,502 ERC1155) to 1,241 addresses across 283 collections through 9 on-chain batches. **What couldn't be returned:** - 14 NFT transfers reverted: 5 blocked by collection contracts (SAW Games Pass, Wu Tiger Clan), 9 sent to contracts unable to receive ERC1155 tokens - 21 expired .eth ENS names that no longer exist on-chain (expired 2022-2025) - L2-native NFTs with no L1 counterpart remain outside scope This follows the earlier completion of the **$7.4M token distribution** across 73 assets to 31,644 addresses. Only 26 token payouts failed: 1 USDC to a blacklisted address, 25 ETH to contracts that reject plain transfers. **Smart wallet holders** must verify identity via email for manual return. All transactions are verifiable on-chain with full documentation of exceptions. ⏳ Deadline: August 15, 2026

**Loopring announces shutdown of DeFi products by July 31, 2025**, including Dual Investment and Portal services. The decision stems from these products' reliance on centralized market makers, which conflicts with scalability and trustless operations. Key points: - Layer 2 operations continue normally - All user assets remain secure - Focus shifts to building permissionless systems This follows Q3 2024 improvements in decentralization: - New trustless guardian interactions - Self-help transaction mode for backend failures [Full announcement](https://medium.com/loopring-protocol/loopring-defi-closure-announcement-e9270cccba4d)

**Today marks the final day** for users to withdraw assets from the Loopring Wallet before its permanent closure on June 30th, 2025. Key points: - Users must transfer all assets before the interface becomes unavailable - After closure, interactions will only be possible directly through smart contracts - The Loopring protocol remains operational; only the wallet interface is affected For detailed instructions on asset withdrawal and closure procedures, visit the [official announcement](https://medium.com/loopring-protocol/loopring-wallet-closure-announcement-287400ff621b). **Immediate action required** to ensure continued access to your assets.

Portal, a DeFi trading platform on Ethereum, has launched significant upgrades to provide a centralized exchange-like experience while maintaining decentralized benefits. Key features: - Long/short trading capabilities - Adjustable leverage options - Access to CEX liquidity from Ethereum wallets - Trading of exclusive CEX tokens unavailable elsewhere on Ethereum The platform bridges traditional CEX functionality with DeFi security, allowing traders to access sophisticated trading tools directly from their self-custodial wallets at [Portal](https://defi.loopring.io).

Loopring DeFi has officially launched on Base Network, marking a significant expansion beyond Ethereum. This deployment follows their recent initiative to bridge CeFi capabilities to DeFi environments while maintaining self-custody. Key developments: - Full integration with Base Network completed - Users can now access CeFi features without leaving self-custody wallets - Multi-network expansion strategy progressing as planned This launch represents a major milestone in Loopring's mission to make DeFi more accessible and efficient across multiple networks. The platform continues to receive positive user feedback while maintaining its focus on security and performance.