Huobi Invests in Linear Finance to Collaborate and Promote a Synthetic Asset Ecosystem
Linear.Finance is proud to secure an investment from Huobi, a key supporter and driver within the DeFi space. Huobi joins a list of institutional investors backing Linear including names like NGC Ventures, Hashed, Alameda Research and CMS. Linear will be the first synthetic asset protocol investment by Huobi and are pleased to be part of Huobi’s Global DeFi Alliance.
Besides the investment, strategic partnerships have been formed in a number of key areas to bring Linear to market as the first cross-chain compatible synthetic asset protocol. While the partnerships aim at co-creating a synthetic asset ecosystem for the broader crypto community, Huobi users will also experience a number of benefits from the partnership. Key highlights include:
● Linear will serve as the go-to-platform for synthetic assets for Huobi’s exchange users, supported by upcoming community development activities co-organized by both parties.
● Upon the launch of Linear.Exchange, Linear will list an exclusively created “Huobi DeFi Index”, giving traders exposure to a diversified portfolio of Huobi’s listed DeFi projects. All Linear users can trade the index with their built LUSD.
● As a cross-chain compatible protocol, Linear will also explore integration with the Huobi ECO Chain, such that the Linear’s synthetic asset capability will have synergies with the dApps in the Huobi ecosystem.
● An exclusive staking program for HBTC holders has already been commenced upon the launch of Linear.Buildr.
Kevin, Co-founder & CEO at Linear Finance, said “The introduction of synthetic assets will serve as a key driver of innovation and push the boundaries within DeFi. We are pleased that Huobi joins us in this journey as we carve a path forward into uncharted areas of cross-chain integration and expanding the DeFi ecosystem. We are also excited about the partnership opportunities to come which will position Linear Finance as a leading cross-chain compatible, decentralized synthetic asset trading protocol”.
About Linear Finance
Linear Finance is a cross-chain compatible, decentralized synthetic asset protocol to cost-effectively and quickly create, trade, and manage synthetic assets (Liquids). Linear achieves this by leveraging other faster public blockchains as an imminent Layer-2 solution. This brings not only scalability and cost-savings vs. existing solutions but also composability, bridging DeFi assets across blockchains. The utility of the LINA token within the ecosystem is used for — staking in the collateral pool, liquidity mining, governance and investing in synthetic “Liquids” on investment assets with infinite liquidity and no slippage.
As a world-leading company in digital economy industry, Huobi Group was founded in 2013 with a mission to making breakthroughs in core blockchain technology and the integration of blockchain technology and other industries. Huobi Group has expanded into public chain, digital assets trading and wallet, mining pool, proprietary investment, incubation, Digital Asset Research etc., and established a global digital economy industry ecosystem, by investing in over 60 upstream and downstream companies in the blockchain industry. Huobi Group is working with Argentina, Russia, Thailand, Nigeria and many other countries on the development of blockchain technology and real-world blockchain applications.