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View ChartLoom Network (LOOM) is a production-ready, multichain interop platform designed for serious dapp developers. It positions itself as a Layer 2 scaling solution for Ethereum, built around a network of Delegated Proof of Stake (DPoS) sidechains that enable high-performance, low-cost decentralized applications. The project has been live in production since early 2018, making it one of the earlier scaling efforts in the Ethereum ecosystem. Loom Network operates as a Platform as a Service (PaaS), allowing Ethereum-based Solidity applications to run on sidechains with more relaxed consensus mechanisms tailored to their specific needs and threat models.
The native token, LOOM, is an ERC-20 token on Ethereum with a total supply of 1,300,000,000 tokens. Approximately 1 billion tokens circulate on Ethereum, while roughly 130 million circulate on Binance Smart Chain (BSC). The token is used to secure the network through staking and to pay for dapp hosting. Loom Network's mainnet, called Basechain, is a DPoS blockchain secured by 21+ external validators worldwide and has been audited by Trail of Bits. The project continues to evolve, with ongoing development of zkLoom, a zero-knowledge-based solution whose Sepolia testnet launched in March 2024.
Loom Network was co-founded by James Martin Duffy, Matthew Campbell, and Luke Zhang. James Duffy, also referenced as James Duffy, introduced himself in a Reddit post on r/ethereum as the Co-Founder of Loom Network, describing the project as a layer 2 solution to help Ethereum scale. Matthew Campbell served as CEO and Co-Founder, focusing on the project's gaming and scaling aspects, but he later left the Loom Network project, with his departure reported on May 11, 2020. He is listed as a former Co-Founder. Luke Zhang is also listed as a Co-Founder.
Additional team members referenced in available materials include Vadim Macagon, listed as Chief Executive Officer with an active-resigned status, and Andrei Popescu, listed as Chief Technology Officer. Vinay Hiremath is referenced as Co-Founder and Head of Engineering at Loom from October 2015 to April 2020, where he scaled the engineering team and system to significant user and company milestones. Joe Thomas is referenced as CEO and co-founder of Loom in a podcast episode featuring Ilya Fushman, partner at Kleiner Perkins. Detailed public information on the full current team is currently limited.
Loom Network operates as a network of DPoS sidechains that run independently from the Ethereum mainnet while remaining compatible with it. Developers can port their Solidity-based dapps to Loom in just three steps. The mainnet, Basechain, uses Delegated Proof of Stake to achieve fast confirmation times and high transaction throughput, secured by 21+ external validators located around the world. Basechain has been audited by Trail of Bits, a renowned information security company specializing in blockchain technology.
A key feature is Universal Transaction Signing, which allows users from every major chain to access a Loom dapp using their native wallets. Loom Network enables transactions at lightning speeds and at zero cost to users, meaning no gas fees for users and no need for MetaMask popups at every action or button click. Unlike Ethereum, developers pay a flat monthly fee to host their dapps on Loom, so their users do not have to pay transaction costs. The platform has integrations with Bitcoin, Ethereum, Binance Chain, and Tron, with EOS and Cosmos noted as coming soon. This allows developers to integrate assets from all major chains and build a dapp once to offer it to users on all platforms simultaneously.
Loom Network's primary differentiator is its focus on production-ready multichain interoperability combined with a zero-cost user experience. Since early 2018, it has been live in production, making it one of the longer-running Layer 2 scaling solutions for Ethereum. The platform is optimized for scaling high-performance dapps that require a fast and smooth user experience, particularly in gaming and social applications. Its DPoS sidechain architecture allows applications to have more relaxed consensus mechanisms depending on their needs and potential threat model, while still benefiting from Ethereum mainnet security.
The network's ability to let users onboard without downloading crypto wallet software removes a significant friction point for new users. Developers can build a dapp only once and offer it to users across all major platforms simultaneously through integrations with Bitcoin, Ethereum, Binance Chain, and Tron. Loom Network also offers a staking dashboard and developer documentation through loomx.io. The ongoing development of zkLoom, a zero-knowledge-based solution, demonstrates the project's continued evolution toward improved development experience and accessibility, with the zkLoom Sepolia testnet launched in March 2024 and running smoothly.
LOOM is a proof-of-stake token used to secure Loom Network's mainnet, Basechain. Token holders can stake their LOOM tokens to help secure the network and earn rewards in the process. More than 247,828,530 LOOM has been staked according to loomx.io. The token is also used by developers to pay for dapp hosting on Loom Network. This hosting model differs from Ethereum's gas-based system, as developers pay a flat monthly fee, ensuring their users do not have to pay transaction costs.
Beyond staking and hosting payments, LOOM serves as the economic backbone of the Loom Network ecosystem. Basechain can be used for any type of dapp, whether in DeFi, supply chain management, virtual reality, e-learning platforms, or gaming. The network's integrations with Bitcoin, Ethereum, Binance Chain, and Tron allow developers to integrate assets from all major chains, making LOOM a bridge between multiple blockchain communities. The token also plays a role in governance through the DPoS validator system, where 21+ external validators participate in securing the network.
The Loom Network ecosystem includes several notable components. CryptoZombies, developed by the Loom Network team, is an interactive code school that helps new developers build their own applications. Basechain serves as the mainnet and supports a wide range of dapp categories, from DeFi to supply chain management, virtual reality, e-learning, and gaming. The platform provides a staking dashboard, developer documentation, token FAQ, and blog, all accessible via loomx.io.
Development has continued with the zkLoom initiative. On March 19, 2024, Loom Network announced that the zkLoom Sepolia testnet would launch that week, providing a much better development experience and easier access. On March 22, 2024, the old zkLoom testnet was spun down and developer docs were updated with the new RPC URL. By March 29, 2024, the zkLoom Sepolia testnet had launched and was running smoothly, with developer docs updated with all information needed to start deploying contracts. On July 4, 2024, Loom Network published a development update covering recent events and plans for the rest of 2024 and beyond. The network has also seen its token listed for perpetual futures trading on Kraken Pro as of September 6, 2024.
Loom Network cannot be mined in the traditional sense because it uses a Delegated Proof of Stake consensus mechanism rather than proof-of-work. Instead of mining, participants can acquire and stake LOOM tokens to help secure Basechain and earn rewards. Staking involves locking up LOOM tokens in support of the network's validators, who are responsible for producing blocks and maintaining the blockchain. Basechain operates with 21+ external validators located around the world, and token holders can delegate their stake to these validators.
To participate in staking, users can access the Staking Dashboard available through loomx.io. The staking process helps secure the network while providing token holders with an opportunity to earn rewards. The total amount staked exceeds 247,828,530 LOOM according to loomx.io. Unlike mining, which requires specialized hardware and significant energy consumption, staking LOOM requires only a compatible wallet and a sufficient token balance. This makes participation more accessible to a broader range of users who wish to contribute to network security and earn passive rewards.
Since LOOM is an ERC-20 token on Ethereum and also circulates on Binance Smart Chain, users should store their tokens in wallets that support these networks. Hardware wallets provide the highest level of security for long-term holdings by keeping private keys offline. Software wallets and browser-based wallets are convenient for interacting with dapps but should be used with caution. Users should always verify contract addresses and official links before conducting transactions, as fake tokens and phishing sites are common in the cryptocurrency space.
When staking LOOM, users should ensure they are using the official Staking Dashboard accessible through loomx.io. It is advisable to never share private keys or seed phrases with anyone, and to enable two-factor authentication where available. For those trading LOOM on exchanges, using reputable platforms and being aware of regional restrictions, such as those noted for Kraken Pro futures, is important. Given the volatility of cryptocurrency markets, users should also consider diversifying their holdings and only investing what they can afford to lose. Keeping software up to date and using secure, unique passwords further reduces the risk of unauthorized access.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for LOOM are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Loom Network (LOOM) is C$0.000158. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated LOOM to USD rate at the top of BTCC’s price page. In terms of market scope, Loom Network records a 24h trading volume of C$143.66726K (reflecting total buying and selling activity over the last 24 hours), with a total market cap of C$239.205535K. Its current circulating supply stands at 1.24B out of a maximum supply cap of ∞.
The price volatility of Loom Network (LOOM) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Bank of Canada or US Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (1.24B) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Loom Network (LOOM) hit an all-time high (ATH) of C$1.104201 on 2018-05-04 02:50, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at C$0.000152 on 2026-10-07 19:00. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading LOOM futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume (C$143.66726K), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s LOOMUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Loom Network, simply log into your BTCC account with USDT margin available, navigate to the LOOMUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for LOOMUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: C$0.000158), you can practise opening/closing positions, adjusting leverage, and setting TP/SL for LOOMUSDT with zero financial risk.
Trading Loom Network (LOOM) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for LOOMUSDT, and review its live price (C$0.000158) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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