AMA Recap — Jun 7th 2023
Dear Linear Community,
On Wednesday 7th June, the Linear Team held a Twitter Spaces to update the community on everything that’s been happening at Linear.
Several exciting announcements were made!
Listen to the complete recording on Twitter:
https://twitter.com/i/spaces/1OyKAVeVEeOGb
Written recap:
Kevin — Thanks for joining today, its been an exciting few weeks in crypto, as always! As you know we have been building this protocol for almost three years now, we’ve gotten listed on many exchanges, launched our main net, expanded on its capabilities and brought about a number of partnerships. Listening to the community we have heard that people want us to bring individuals in who will push Linear further into the next steps, new people with fresh ideas, new thoughts and maybe younger than me haha! We are in a pivot point right now, we can be well positioned for the next wave of people coming into De-Fi. So let me introduce the new guys and let them explain some of their plans. Jason will be Product Lead, Daniel will be Technical Advisor, Bowser Operations Manager and Joseph Marketing Manager.
Bowser — I think most folk already know me, I’ve been with Linear since pretty much day one. For those who dont know me I have a background in Geosciences and piloting and I worked as a fire aviator a few years. Later I re-schooled into what what used to be my hobby — Economics and Business. I then went on to work for a South Korean Marketing and Intelligence organisation as D. Ops, coordinating and managing sales and marketing teams in 23 countries. I look forward to the new challenge of being Ops Manager in the new team.
Jason — I have a lot of relevant real work experience, as well as crypto experience to bring to this role. Ive spent over 20 years working in manufacturing and logistics as either a senior manager or project manager, so managing products, teams and projects is nothing new to me, its what I love and what I do well.
Linear was actually one of the very first projects I really took a deep dive into and I was invested in Lina just after the token launched and long before mainnet came out. I was a pretty active member of the community back then, I was the guy who always annoyed the admins with super technical questions they couldn’t answer, I always remember right at the start ‘stayed tuned’ was the stock answer to just about everything! In fact I was talking to one of Linear Council members yesterday introducing myself and he was like “hey you’re the guy who made the unofficial Lina video back in 2021!” and yea that was me, so I’ve been a Linear supporter since the start.
Since then I actually left my ‘real world’ job at the end of 2021 and Ive been helping a few crypto projects in various roles. I spent over a year way down the NFT rabbit hole and was lucky enough to be a part of one of the biggest projects at the peak of the hype. Back to Linear now and I’m ready to help the team to accelerate the project and build out Linear in new and innovative ways. I want to make sure we are properly positioned for not only the next bull run, but for a sustainable future beyond that. If you’re a four year cycle believer like me, then we have a little under a year before we hit lift off again and go back to a sustained period of ‘up only’. With this comes a wave of new people coming into crypto that we at Linear will welcome with open arms with a product offering that appeals to a much broader audience. I’m a high energy kinda guy and I like to move at pace! I’ve been onboarding into this role for just 2 weeks and we already have a new website in the works, 9 new liquid listings have been applied for and did anyone notice the Exchange hasn’t gone down for the last few weeks ? I cant take credit for that personally but its testament to the new team we have built together!
Daniel — I would like to thank the team for the opportunity to provide technical advice for Linear. I have a lot of experience to share with you that I’ve built up over time. I have built global scale IT systems for IRL logistics, whilst at the same time arriving early in the blockchain. I have followed Linear for a long time from the side-lines, I have been impressed with what they have done and its my honour to see if I can share my expertise with the team. I know Jason from some hobby projects we worked on together, he didn’t mention this but he knows more than just NFTs! We had a lot of fun and it will be great to work on this project together.
Kevin — You guys are being very modest! I know you are all really quite accomplished in your respective fields. Jason has substantial trading experience and knowledge of exchanges in general. Daniel is on the cutting edge of technology with the things he is building and adding Bowser to this mix, who knows Linear inside out, will certainly allow us to accelerate this project.
Jason — Joseph is our new Marketing Manager and he has a team of highly skilled folks working behind the scenes. He’s not here with us today as he is still onboarding with Linear, but he will be with us in the next AMA and you guys will start to see him in the Discord and Telegram. Joseph has 10 years of experience in marketing, has been CMO in several top projects and he has a little catch phrase which is “I have been doing Social Media Marketing from before people even knew what SMM was”
Kevin — Thanks guys. Going forward in order to support the new guys in their role Aedreon and I will move into advisor / consultant roles for a period of time, making sure everyone has the support and resources they need to succeed
Community Questions
Can you explain the process of minting synthetic assets (Liquids) on the Linear platform? How does the collateralized debt pool work, and what role does the native Linear token (LINA) play in this process?
Bowser — LINA, our utility token, is both a collateral asset, meaning you can stake them and build/mint LUSD and/or governance token, i.e. use your LINA (available, staked and locked) to vote in the Linear DAO. To mint LUSD you stake your LINA, collateralize them, at 4:1 ratio or higher. So 1000 dollar worth LINA can build/mint max 250 LUSD. This LUSD can be used in Linear Exchange to trade synthetic assets, eg LBTC, LETH etc.
When you stake LINA and mint LUSD you become part of the debt pool which other users of the exchange trade against. When traders win the debt pool and your debt will increase and when traders lose the debt pool and your debt will decrease. When you stake LINA you earn rewards. Rewards are paid out weekly and are based on your debt in relation to the overall debt pool. Put simply, you earn your share of rewards. Worth noting; Once we launch multi-collateral, users will also be able to stake other assets such as BNB, WBTC and WETH to mint LUSD.
What is the roadmap for Linear Finance
Jason — I’m only going to go light touch on the information today because in the next couple of weeks I’m going to do another AMA in Discord where I can actually share some sneak peaks of the work we are doing and can chat live with the community. Broadly at the moment the roadmap looks likes this:
June, July, Aug we will deliver a refreshed website which is fully updated but remains recognisable as Linear. Then multi-collateral staking (WETH, WBTC and BNB), then new liquid listings and we will also be working towards the delivery of a Leveraged Yield Farm to add to our suite of dApps! Longer term we are thinking the best way to broaden the user base and attract more people is to give them an Order Book Dex alongside the Liquid Asset exchange. Imagine heading to the website and being presented with the choice of trading the actual underlying assets on the dex, or the liquid delta one version on the original exchange. Think Linear Defi rather than Linear Finance!
Lina’s Chinese community is no longer managed. Should we pay attention to the construction of the community?
Jason — Yes we absolutely should! We included this question because we were so pleased to see that the community noticed we had lost our Chinese speaking moderator. This was really encouraging for us and we have started a new guy already who speaks English, Chinese and Korean
Hackers are very active in the market and almost every day we hear about another hack attack. Can you please provide some information about the security arrangements for your project? Do you already have an audit?
Daniel — Linear Finance is very well audited, you can see we have a Certik audit with a score in the top 95% and the other firms also rated us very highly. We can never say never in crypto, if maybe there is a new exploit, but Linear follows all of the best practices to protect the protocol. I do not see any reason for alarm. Our audits are available for anyone to view and I invite you to read them for yourselves.
In which core value that you think you could convince us (as investors) to put our investment into your project ?
Kevin — The way we see ourselves is as builders. Always building out has been our focus. This will be the same with the new individuals who we have chosen in the knowledge that they share in this value.
Jason — Completely agree with you Kevin, and I assure you we will continue to focus our energy on building out Linear. As we draw to a close I have a final thought to share and its a reminder that even with the best team in the world, which this could very well be! The progress that we’re looking for is not going to be achieved by one person, not me, nor the guys who you’ve heard from today. We need to embrace a collaboration between the team, the DAO and the community, so to close I’d like to thank the community for their support in the past and encourage you all to stick with us on this next exciting leg of the Linear journey.
Thanks for listening
Kind regards,
Linear 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.
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