Linear Finance Integrates Band Protocol to Secure Decentralized Cross-Chain Derivatives and Synthetic Asset Protocol
Linear Finance, a cross-chain compatible derivative asset protocol to cost-effectively and instantly create, manage, and trade synthetic assets with unlimited liquidity, has strategically partnered with Band Protocol to integrate decentralized price feeds on the Linear Exchange trading platform. Band Protocol will be securing the collateral and minting protocols of Linear’s Builder DApp which enables users to mint the LUSD stablecoin, the gateway to Linear Exchange, which will be also be powered by a multitude of decentralized oracles covering a number of investable assets.
Linear Finance is a decentralized delta-one asset protocol, meaning that for a given instantaneous move in the price of the underlying asset there is expected to be an identical move in the price of the derivative. This raises the critical problem of front-runners on-chain who read future take advantage of slow update intervals from oracles by inserting a transaction ahead of the update. Leveraging the scalability and instant finality of the BandChain decentralized oracle network, Linear Finance has collaborated with Band Protocol to build optimized and low-latency custom oracles that are highly accurate and minimize the surface area of attack for frontrunners.
“Front running is a fundamental problem not just for current synthetic asset trading but all trading in general. We know that even if Linear offers all the benefits of cross-chain compatibility (such as speed and cost), and a superior creative selection of synthetic assets, trading will still be meaningless for users if trades can be front run. The whole system would still be fraught with risk. By collaborating with Band Protocol for our BSC integration and onwards, together we are able to build a safer and scalable trading protocol.”
Drey Ng, Co-Founder at Linear Finance
Band Protocol’s integration with Linear Finance will be live in their upcoming Mainnet launch which will be critical to their synthetic asset offerings ranging from popular crypto-assets such as BTC, commodities including gold, silver, and a number of creative digitally traded indexes.
“Band Protocol is thrilled to be chosen by Linear Finance as an oracle partner for their upcoming Mainnet launch. The partnership will begin with securing their synthetic asset protocol on Binance Smart Chain and expansion to other major blockchain platforms. Both teams are also researching extensively into mitigating the frontrunner problem for all synthetic asset trading platforms.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
We are excited to work with Linear Finance who has proven to be one of the strongest and most competent teams in the decentralized finance space. Both teams are looking forward to sharing the integration details and custom oracles built upon Linear Finance’s Mainnet launch which will make the protocol safer for both traders and stakers alike.
About Linear Finance
Linear Finance is the first cross-chain compatible decentralized synthetic asset protocol to create, trade, and manage synthetic assets (Liquids), and acts as a faster, cheaper, safer, and easier to use alternative compared to other synthetic asset protocols. Our goal is to democratize investment assets and provide creative thematic exposures to our users while also solving existing scaling/high gas fee issues and increasing composability. Linear Finance’s strategic investors include NGC Ventures, Hashed, Genesis Block, CMS Holdings, Alameda Research, Kenetic Captial, Evernew Capital, Soul Capital, Black Edge Capital, Moonrock Capital, DuckDao, Vendetta Capital.
Website | Whitepaper | Telegram | Medium | Twitter | | Github
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github
