Just checked out the FAQ, and gotta be honest, I'm pretty disappointed in this service.
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I thought this was originally planned that you'd be able to sign up with Mastodon or Pixelfed accounts.
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It's not federated yet? Why wasn't it built with federation from the beginning?
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Not built in the open (not yet open source), so nobody can host their own Loops servers yet.
This does not appear to be the open platform that was promised.