Linear Finance Protocol Update 15/07/2021
As a follow on to our last protocol update on June 15th we would like to share our current developments and progress around the two impending releases.
Our perpetual offerings are in their final stages of testing and will be ready to release within the next few weeks. The team is ironing out a number of bugs that were encountered whilst working on functional additions to the exchange to allow for these new products. Once complete, the initial offering will allow users to take short positions on ℓBTC, ℓETH, and ℓBNB. Once launched we will subsequently monitor the performance and resolve any users issues before expanding the short capabilities to the rest of our offering (including our indices).
For those that are wondering about leveraged long positions, we are currently in final contract and licensing discussion with a prominent, well-known DeFi index provider on securing the price feeds for a BTC/ETH Bull token and will announce upon completion.
A number of our community members have asked about the progress of our Linear DAO and the path to further decentralize our protocol. As such, let us give a short sneak preview of the overall Linear DAO structure.. (whilst subject to potential changes, it will not deviate far from the below).
As all LINA holders and stakers will all be part of the DAO, another important piece in the above diagram will be the Linear Council. The Linear Council is the governing council composed of 7 community members who are heavily invested into the Linear Ecosystem and its future, the members of the Linear Governance DAO, and members of the Protocol DAO. The Linear Council is responsible for overseeing the DAO to ensure it runs smoothly in representing the community. It also acts as a gatekeeper for the protocol and has the ability to veto any Propositions that might be detrimental to the Linear ecosystem.
The Linear Council is voted upon by the Linear Community and will serve for a fixed term. Members of the Linear Council will receive a stipend for their dedication to the Linear DAO process and we will be providing details shortly on how to nominate and vote for Linear Council members as well as as a general overview of the Linear DAO and the voting processes.
Linear dApps (Dark Mode)
Our UI/UX team have made great strides in implementing a dark theme for all of our dApps and after some deliberation around colours we have now made progress on the implementation. Buildr is now complete and progress is being made with the exchange and also our website. Please see below some screenshots of the new colour scheme.
We will continue to provide updates on a monthly basis along with any significant announcements in-between. Thank you for your continued support.
Linear Finance 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.