Linear Council Newsletter
Hello Linear fam and welcome to the new Linear Council Newsletter!
With this newsletter, we want to update you on what’s been happening behind the scenes with the council, recap what’s been done in Linear Finance, and engage more with the community!
We’ll also be hosting some on-call AMA’s with you, on a regular basis, on top of the newsletter to further enhance this engagement.
It’s been a rough ride for the crypto markets recently and I’m sure it has not been missed by you that the Luna debacle hit close to home considering it's a DeFi project with an in-house stablecoin. It was nice to see Kevin come out with a prompt statement re-assuring our users that our ℓUSD stablecoin is overcollateralized and won’t incur the type of roller coaster plummet that the Luna ecosystem experienced.
On top of this we have seen other major projects such as Celsius also struggle under these market conditions, a stark reminder that if you have overextended yourself, you may come unstuck, risk management being the key.
DeFi has never been under more scrutiny but we in the LC firmly believe that the strongest projects will survive this bear market and come out on the other side even brighter. Through the joint effort of the core team, LC and community we are certain that we can steer this ship through these difficult times and come out on top when market conditions are more favorable. We have set out below some key points that we believe will hold us strong in the months and years to come.
As you might have seen on the forum, there was some discussion about a roadmap/priorities for the DAO link here. We’d like to go a bit more in-depth on that and provide you with a rough roadmap for this epoch (and hopefully the ones after!)
- Commodities added to exchange (now, ongoing) Please have your say, here
- UI/UX improvements, see below
- Delta One marketing effort (ongoing)
- Peg stability bot (TBD)
- Increase Perpetual Options (Q4)
- Limit Orders/Stop Loss Functionality (Q4/Q1 ‘23)
- Increase user base of exchange through partnerships and other marketing strategies (Q4)
AMA Recap recap
Earlier last month we held an AMA in the Linear Exchange Community, if you didn’t get a chance to make it and didn’t feel like reading the recap, here’s the TL;DR for the coming months:
- More ℓUSD liquidity
- Promote ℓUSD/BUSD LP
- Looking into Peg Protection Pot and similar ways to maintain the peg
- Hired 3 new devs
- User-driven liquidation mechanism
- Multi-collateral staking
- Advanced orders
- More Vault incentives
- ATHOS finance = Linear Finance integration on Moonbeam
Athos can’t be summed up in bullet points so read more here: https://email@example.com or in the actual AMA Recap.
Kevin and Kelvin also took some interesting questions from the community so I’d go and check it out if I were you. Link here
DAO and Snapshot
Crumbi made a proposal to enhance the Linear Dashboard link here that didn’t reach the quorum, but fear not! This has been seen by the team and most likely it still will happen, details are below. Thank you Crumbi for putting this forward!
We’re always happy to see people creating proposals and engaging on the DAO forum. It truly is a great way to have an effect on Linear Finance.
UI/UX Enhancement Schedule:
This is what is planned and being worked on to improve the UI/UX:
- Debt Terminator dApps / Transaction executor for liquidator — SOON
- Universal Menu Bar across all dApps — Design in progress
- Unlocking Schedule for locked LINA — Design in progress
- Time / Progress for order in ‘Pending’ status — Design in progress
- Dashboard enhancement — Design pending
- Advanced order — Requirement in progress
- Multi-collaterals — Dev PoC done, Design pending, Contract upgrade in progress
If there’s one thing we’d like to see more, it’s additional and interesting assets on the Linear Exchange. So that’s why we’re looking at adding more commodities! Some commodities are already being provided by our oracle partner, some might need to be made. That could take a month or two to implement (their development time + us adding it to the exchange). Good to know is that every additional asset does weigh on the gas cost to build and burn ℓUSD. So we need to consider removing some less used assets from the exchange. Please discuss this here.
Delta One Update
Delta One Studios continues to build out the scripts, storyboards, and assets for their educational series. The team has been working closely with the Linear Finance core team to ensure consistency with the message and branding.
One section we’d like to include is a corner where your questions can get answered. Send us your questions on Telegram / Discord and we will select a few every month to get answered.
That being said, what would you want to see in a monthly newsletter? Please let us know on the forum thread created for just this topic! link here. We’d love to hear from you.
Take care and see you around!
The Linear Council
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.