Source : cryptodaily.io
BSCDaily hosts Linear: #Exchange #Linear #BSCDaily #BSC
BSC_Daily Admin: Hello and welcome, how are you today?
Kevin: Doing well…….thanks for arranging an AMA with your wonderful community.
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
Kevin: Let’s do it.
Q1: Can you tell us a simple description about Linear & story behind?
Kevin: Sure thing! Linear Finance is the first cross-chain delta one synthetic asset protocol. We want our users to be able to create, trade, and manage their synthetic assets seamlessly, quickly and effectively, without having to worry about the high gas fees. At the same time, we want them to be able to integrate with the growing number of protocols in the ecosystem too so that they can continue to build their Defi Legos…..
Linear Finance is supported by LINA, our native ERC-20 utility token but is build on BSC, so LINA owners can stake in the collateral pool, mint LUSD stablecoin to trade Liquids in our exchange, and also use it as a governance token once the Linear DAO launches, which will be very soon. All our trades, minting and burning are done at a fraction of the cost on ETH chain….
Q2: Can you tell us a bit about the team and their experience with crypto projects?
Kevin: I’ve always said that having a team with past experience in crypto is critical to a project’s success in this space. But we know that is also something quite difficult to find, especially with the industry being so new. This is why at Linear, we were extremely lucky to have a team with a great deal of experience in crypto/defi.
In terms of the actual team, our co-founder, Drey Ng, has led many tokenization projects, including one of the largest real estate families in Asia, which is something very hard to find. Not to mention his previous experience in both banking and trading finance doing both FX and rates.
In my case, I started off working in Silicon Valley, doing M&A for an investment bank to later move to Asia and worked for several financial institutions. My journey in crypto started as a miner, and pretty soon I was immersed by the ecosystem. Continued to invest in a few promising DeFi projects, which led me to start Linear with Drey and ever since I have been working full time in crypto.
Our tech team is solid and is lead by individuals who are strong in smart contract development and have had experience building one of the largest perpetual exchanges in Asia.
At the end of the day, we are a team of builders and will continue to build no matter the market sentiment….
Q3: Can you walk us through the uniqueness of Linear?
Kevin: What makes Linear unique is the fact that we allow our users to trade synthetic versions (Liquids) of their favorite digital assets, indices, and commodities. The best thing is they get to do it with lower gas fees than similar synthetic asset protocols out there since Linear Exchange runs on BSC.
Even though we get the low fees from running on BSC our native token, $LINA and any of our liquids also runs on Ethereum so they can be swapped back to ERC-20, allowing our users to also be able to access the growing DeFi ecosystem out there. Best of both worlds! We will also be heavily expanding more into synthetic indices as our LDEFI asset is very popular….
Q4: What are the benefits for project holders & backer side?
Kevin: For traders, Linear’s protocol allows them to trade liquid assets quickly, seamlessly, and cost-effectively with cross-chain composability. The fact that our transaction fees are low (in comparison to Ethereum fees) allows users from all parts of the world and from all classes of society to access digital assets, commodities, and indices. On the other hand, for LINA stakers they can also earn a share of the trading fees and staking rewards as the stakers serve as the counterparty to the traders on the exchange….
Q5: Please tell us about the token! What are the token use cases, distribution, and how to buy/get it?
Kevin: So yeah, in simple terms, LINA, our utility token, is used as the base collateral when minting LUSD, our stablecoin, in Buildr. Turning to Linear Exchange, the minted LUSD can be traded for other liquids such as LBTC, LETH, etc. Users who stake LINA and mint LUSD earn rewards, both inflationary rewards and a portion of the trading fees from the exchange, which are claimable weekly. While rewards are locked for 1 year from distribution they can still be used as collateral to mint additional LUSD. For further details on this, please visit our medium page or come to ask us on our Discord channel….
As for distribution, our max supply is 10billon and approximately 3billion (30%) of the total supply is currently in circulation.
And when it comes to buying LINA, you will find it on any of the major centralized exchanges such as Binance, Huobi, Ascendex, FTX as well as on decentralized exchanges such as Uniswap and Pancakeswap to name a few.
Q6: How do you approach your marketing to increase Linear users in the future?
Kevin: We have a team dedicated to working on marketing and partnerships and in addition, we’ve also recently engaged one of the more prominent marketing firms in the space and are currently hosting several campaigns, both in our own community and also in others. So be sure to be on the lookout for news and follow our socials – Twitter, Telegram, and Discord! Our partnerships continue to grow (we just announced partnerships with OpenDAO and SifChain) and have a solid partnership with Moonbeam who will also be supporting us on our imminent launches.
Q7: What can you share about the roadmap in the next 6 months?
Kevin: Yeah, sure, so we just released our updated roadmap last week in which you’ll find the major milestones we’re looking at for the end of 2021 and going forward into 2022. There will of course be smaller milestones and partnerships announced and implemented along the way.
Our DAO launches soon so within the next week(s) LINA will also be used for governing certain aspects of the protocol through voting via Snapshot.
We’re working hard on getting our Kusama integration completed through MoonRiver, which has proven to be quite the task… more details will be announced in the coming weeks but there will be a new token for this and we are exploring a distribution to LINA stakers and MOVR contributors so keep on the lookout for announcements. Once we’ve got MoonRiver set up, we’re looking forward to integration on Polkadot as well through our partner MoonBeam. In the long run, we have an L2 solution in the pipeline for our users and look to utilize ZKRollup.
As for existing product updates, a number of UI/UX changes are coming up in the next few weeks along with additional synthetic listings on our exchange.
Q8: Where can we find out more about Linear on social media?
Kevin: We’ve got a great community and would like to thank each and everyone for the tremendous support shown over the past year. In Discord, users will find a casual chat along with 24/7 support on any questions relating to the protocol and there’s also Linear Exchange Community, which is more focused on exchange related topics, such as discussions around listed liquids, etc…. I’ll drop the links to our socials below.
Telegram Community: https://t.me/LinearExchangeCommunity
Telegram Announcements: https://t.me/linearfinanceannoucements
BSC_Daily Admin: With this, we are now at the end of our AMA session with Linear.
Time for wrapping up, any last words you would like to say to our community?
Kevin: Yes, thanks for hosting us today. You guys all ask great questions and could love to see you in our Discord or TG channels and maybe even see some Linear proposals from you in our DAO!! Rock on everyone and stay safe!
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for Linear.