Dear Linear Finance community,
We are fast approaching 2 years since the inception of our protocol so what better time to give an overall update and recap of all things Linear.
In Sept 2020 we set ourselves the task to build the first cross-chain delta-one asset protocol that was not only functional but easy and intuitive for the wider cryptocurrency community to use. Our funding round was well populated with some notable names such as Alameda Research, CMS, GBV amongst others, which led to the typical excitement around the ICO and token launch. We have since executed on launching not only a fully functional platform but various additions which have created a user-friendly trading and staking experience.
Linear Exchange — This is the main component of the Linear Finance platform, our exchange allows users to trade liquid assets with low slippage and low gas fees. The $LINA token powers our platform and allows users to build $LUSD which is our native stable coin and the currency used on the exchange. The Linear Exchange has an array of liquids available to trade such as BTC, ETH, BNB, YFI and more in addition to various managed indices whereby users can gain exposure to multiple assets in a single trade.
Linear Buildr — Provides access to the Linear Exchange via staking $LINA subsequently allowing $LUSD to be built for use on the Linear Exchange. Building $LUSD enables passive income generation in the form of weekly rewards distributed across all users that hold built $LUSD.
Linear Dashboard — An intuitive suite of multiple metrics enabling Linear Finance users to manage their positions and trades whilst being informed in real-time.
Linear Vault — Our hub for LP token holders to earn a passive income for providing liquidity where rewards are able to be claimed by the second via our easy-to-use interface.
As part of our ongoing operation, a crucial element of our protocol is reliant on partnerships not for optics but actual function and we are pleased to be partnered with the industry-leading oracle providers Chainlink and Band Protocol. Via these partnerships Linear Finance is able to request custom price feeds on demand with assurances around the up-time and accuracy of said feeds, this is of course crucial to the function of the Linear Exchange. In addition, we are also proud to be one of the early partners and supporters of the Moonbeam/Moonriver ecosystem. It has always been our ambition to have a multi/cross chain ecosystem and via these most notable partnerships were able to achieve this. PieDAO and Xangle are also partnership’s I’d like to mention as they allow us to offer bespoke indices that are continuously monitored and rebalanced ensuring our end users have peace of mind whilst their active positions are managed.
Exchanges and liquidity
At Linear, we understand that users enjoy the freedom of using multiple exchanges, be it due to UI preference or geographic location we believe that it is important to have options. When launching our protocol we had the ambition to have a diverse array of listings and we are proud to have delivered. Our $LINA token is listed on Binance, FTX, Huobi, Kucoin, and AscendEX, as well as a few regionally focussed exchanges such as Upbit, Bithumb, and Coinone. As well as CEX listings, our liquidity extends to popular DEX’s such as Uniswap and Pancake Swap with the latter facilitating traders on the BNB chain.
I am pleased to share that despite the current market conditions Linear Finance remains well capitalized and has a significant runway taking into consideration the considerable increase in staff over the last year and expenditure required to run the Linear Finance platform. We have taken a very careful and considered approach since our launch ensuring that we are operational regardless of market conditions. We continue to evaluate the growth of our protocol against the need to recruit, ensuring that there is no bottleneck over the coming years as we begin to mature as a platform. Needless to say, we strive to have the right balance and people in place.
Marketing is always a hot topic and is often widely discussed within a project’s community. I believe the best form of marketing long-term is via platform development and fundamentals. There are times to shout and times when a lack of “news” is required. In our case the lack of “news” attributes to only one thing, we are building. Linear has a sizable marketing budget but what we will not do is engage in hyped PR releases aimed at increasing the price of the $LINA token. I personally am very pleased that we scaled back our marketing at the right time as it’s apparent that marketing does not grant a project immunity to the wider market conditions, timing is key. We will continue to evaluate how much information we are sharing and where we are sharing said information. Our community and the wider crypto community will always be informed of our progress and at the right time, we transition to more impactful marketing as previously demonstrated.
Currently Linear has a team of 17 employees. We have recently recruited 3 new developers who have worked in the blockchain space for a combined 15 years. We have recruited an additional UX designer, an additional business development lead, a new project manager along with an additional project lead who will handle all things Athos-related.
TLDR — the current Linear team consists of
2 x Co-Founders
1 x CMO
1 x CTO
2 x Business Development
2 x UX/UI designers
1 x Project manager
4 x Blockchain Devs
4 x Support administrators
We successfully launched the Linear DAO in February 2022 and currently have a Linear council consisting of 4 initial members. It’s always intriguing to monitor how a DAO actually functions beyond an idea and thus far we are satisfied with the level of input from our council members and the broader community of $LINA token holders. So far during the first 5 months, the Linear DAO have held in-depth forum discussions on matters related to platform improvements, and voted on additional listings such as $LSOL, $LMATIC $LX30 — a crypto benchmark index of Xangle, calculated based on the market cap of the top 30 crypto assets — and most recently to list Crude Oil WTI on Linear Exchange. A grant to produce marketing materials in the form of an educational video series covering the Linear suite of dApps and introduction to Linear Finance was also approved by the Linear DAO and awarded to Delta Ones Studios. As the DAO matures we expect to see further platform shaping decisions voted on by $LINA token holders.
The future (Improvements)
One thing is for sure, the Linear Finance platform is far from complete, although we have a fully functional protocol the Linear Finance team is tirelessly working on not only functional improvements to the platform but also additional functions that will give our users a more complete experience. Over the coming weeks, we will begin to share these additions with you all, internally we are extremely excited to see the launch of multi-asset collateral which is currently under development and close to completion. Most importantly I’d like to touch on the evolution of Blockchain projects. I think it’s important as a team to pay particular attention to technological advances in the Blockchain space and where and when possible the need and capability to quickly adapt. What we have demonstrated so far is a small part of what Linear Finance will become and we are extremely confident that the evolution of Linear Finance over time will be well received.
As always we are open to feedback and suggestions so please feel free to drop into our discord and let us know your thoughts.
A message from our Project Lead
I first want to thank all of our Linear supporters and users. It’s been a pleasure interacting with all of you thus far. The crypto markets remain volatile and the sentiment is depressed, however, as always, the Linear team is positive about the long-term potential of crypto and DeFi and continues to build our protocol. We remain well-capitalized and along with our next implementation on Moonbeam, we are working on bringing additional functionalities/assets/adoption to the core Linear protocol. The team looks forward to hearing from all of you in our Linear DAO.
Linear Finance Team
About Linear Finance
Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.