About Loom (LOOM)
Loom is an
LOOM is the digital token used to pay for services on the Loom Network. It is built on Ethereum in accordance with the ERC20 standard for tokens. In order to run a decentralized app (dApp) on the Loom Network, a developer must stake LOOM. The Loom token is not mined. Instead, it is earned by users who engage with dApps on the Loom Network. Transactions are free on the Loom Network (i.e., “gasless”), however, if a user wants to transfer assets to another blockchain, like Ethereum, she or he must own at least 1 LOOM to make the transfer. LOOM can be bought and sold for fiat currency or other digital currencies.
Loom can be stored in a crypto wallet and custodian like Gemini.
The supply of LOOM tokens is fixed at 1 billion LOOM.
Learn more about Loom on
Browse other cryptos
The pricing data and asset description above are for general informational purposes only and are not investment advice. Buying, selling, and trading cryptocurrency involves risks. You should consult with your own appropriately qualified and licensed advisors before engaging in any transaction on Gemini. Some data is provided by Messari, a third party that is not affiliated with Gemini.