Dear Linear Community,
On Thursday 29th June, Bowser and Jason from the Linear Team held a Discord Open Mic AMA to further update the community on everything that’s been happening at Linear. You can listen to the recording here:
We started with a re-cap of the new team structure and introduced Gianmarco our new Business Development Manager who previously worked at Binance US in the listings team.
We then talked about multi-collateral staking and confirmed that the code is in the final stages of completion and we can expect implementation in August 2023. We are expecting the Athos team to launch first in the next week or two.
The next items we discussed were listings, both liquid listings and exchanges listing our LINA token. The team were not able to say names, but we shared that we have 4 exchanges currently interested in listing LINA. For our own liquid assets we have now received price feeds from Chainlink for 4 of the 9 we requested. We have feeds for Fetch.ai, Axie Infinity, Doge Coin and Shiba Inu and we’ll be implementing those in the next couple of weeks. At the same time that we are listing these new liquids we will also be de-listing our PieDAO indices ℓDEFI and ℓPLAY, further information on de-listings can be found here. We invited the community to request further indices via the forum.
Next we talked about the new branding and website and we shared a couple of sneak peaks. We have already built several iterations of a new site and then rejected them as they did not meet the standard we are looking for. Our current version has been designed to reflect the transition from old to new by showing the old 2D logo on a white background transitioning into a moving 3D logo on a dark background.
Community Question: How are we going to increase volume on our exchange? As well as listing new liquids that people really want to trade we will also be inviting the projects that we list, or have listed, to take part in AMAs with the Linear Team. This will encourage their communities to come and try our suite of dApps. We are also looking at a trading competition and we would appreciate feedback on this from the community. Also please note that we have invested significant time and resources in stabilising the exchange, increasing the speed and reducing downtime.
Community Question: What is happening with Chaotic Finance, is it abandoned? Chaotic was a test-net for Athos. We had hoped the Kusama ecosystem would grow and we would keep it as a viable Moonriver project, but unfortunately this has not happened. We will wind down Chaotic as there are very few users and trades. New rewards will stop, existing rewards will continue. We will consolidate resources and focus fully on Linear. More details will follow.
Community Question: Do you guys plan to deploy on Binance’s Layer 2? We are always open to deploying on new chains, but we’ve not explored this one yet.
The final part of the update was about the future direction of the protocol. We explained that whilst we still like the idea of building out a Leverage Yield Farm we believe that its more important to focus our energies and resources on creating an Order Book DEX, to compliment our Liquid Asset Exchange. The DEX will allow us to list many more projects than our Liquid Asset Exchange because of the limitations of trading liquid assets. Not only are we limited by the availability of price feeds, but we also have to protect the debt pool from tokens that have extreme price volatility.
Thanks for listening
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.