Linear Finance
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Linear Finance

Linear Vault Step-by-Step Walkthrough

Welcome to Linear Vault! We are delighted to announce our launch of Linear Vault on Binance Smart Chain which will go live on Wednesday 26th May at 10 am UTC. As predicted by many smart community members, Linear Vault is a yield-generating platform for ℓUSD holders. With Linear Vault, you can deposit ℓUSD and receive interest in ℓUSD or BUSD, whichever you chose. Alternatively, users can also earn more LINA in addition to the current Mainnet Buildr Staking Program by depositing ℓUSD-BUSD Pancake LP tokens into the Vault. After rigorous testing and auditing (found here), Linear Vault will be a new addition to the Linear ecosystem, bringing an additional use case to our protocol native stablecoin ℓUSD and provide a passive income opportunity to our fellow ℓUSD Buildrs and Hodlers.

Link to Vault: https://vault.linear.finance/

Preparations

- You must have a MetaMask wallet (https://metamask.io/) installed in your browser.

- Chrome/Brave browsers are recommended. Firefox could be buggy.

- Please use a Desktop/Laptop for now while we are still working on full mobile support.

- As Linear Vault runs on Binance Smart Chain (BSC), your MetaMask wallet needs to be set up to the BSC Network. To learn how visit here.

Walkthrough

Part A: Landing Page

  • Upon landing and connecting to our website with your MetaMask Wallet on Binance Smart Chain, you will find the interface shown below, there are two pools available for yield-farming: the ℓUSD pool and the ℓUSD-BUSD LP Token Pool.
  • The ℓUSD pool offers users rewards in both BUSD and ℓUSD. This means that by depositing ℓUSD, you can choose to have the rewards distributed in BUSD or ℓUSD. Under normal circumstances, the APY in ℓUSD will be higher than that of BUSD for incentivization.
  • The ℓUSD-BUSD LP Token Pool offers users LINA rewards for staking LP tokens obtained by adding liquidity to the PancakeSwap V2 ℓUSD-BUSD Liquidity Pool. To provide liquidity to the ℓUSD-BUSD pool and get ℓUSD-BUSD LP Token, simply go to this link (https://exchange.pancakeswap.finance/#/add/0x23e8a70534308a4AAF76fb8C32ec13d17a3BD89e/0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56) and add the relevant amount of ℓUSD and BUSD to the pool to receive LP tokens.

Part B: The ℓUSD Pool

  • Upon clicking into the ℓUSD Pool, you will find the page as below:
  • As shown, there are two pools available for depositing your ℓUSD. On the left is the BUSD rewards pool, which offers yield in BUSD. On the right is the ℓUSD rewards pool, which provides yield in ℓUSD. According to your personal preference, you may deposit into the BUSD pool, the ℓUSD pool, or both. Please note that the pool capacities for both the BUSD and ℓUSD pools are limited and will be on a first-come-first-served basis. Once a pool is filled with ℓUSD deposits, you will not be allowed to enter the pool until someone unsubscribes from it.
  • By clicking “Deposit” on either pool, you will enter the deposit page. Here, you may enter the amount of ℓUSD you wish to deposit and will subscribe and be included in the next rewards distributing week, which starts at every Wednesday 00:00 GMT. For example, if you deposited 1000 ℓUSD on Thursday of Week 1, the rewards subscription would begin next Wednesday, which is the starting date of Week 2, and you will only start earning rewards by then. *Week 1 deposit deadline to be confirmed.
  • After a successful deposit, you will see an “unsubscribe” button on the ℓUSD pools page. To withdraw your deposited ℓUSD, you must first unsubscribe and wait for the reward distributing week to finish, which is every Tuesday at 23:59 GMT. Before then, your deposited ℓUSD is locked, and they will still be earning ℓUSD rewards as shown in the “Effective This Week” column. After you have unsubscribed and a new reward distributing week has begun, your deposits will become withdrawable. Please note that if the pools are full, you will have to wait for unsubscribing users, and the pool spot will free up as they unsubscribe.
  • Rewards will be distributed and available for claiming in 24 hours after the rewards distributing week has ended. Click the “Claim Reward” button and confirm the transaction on MetaMask, the unlocked rewards will be deposited into your wallet.

Part C: The LP Token Pool

  • Upon clicking into the ℓUSD-BUSD LP Token Pool, you will find the page as below:
  • The mechanism of the ℓUSD-BUSD LP Token Pool is simple: You stake ℓUSD-BUSD LP Tokens obtained from pooling liquidity to the ℓUSD-BUSD pair on PancakeSwap V2 (which can be done here), and you earn LINA tokens that will be distributed each week. There is no limit to the depositing amount in the LP token pool, and the LINA rewards will not be subject to any lockups.
  • Click “Deposit” and enter the amount of LP tokens you would like to stake, and confirm the transaction

And voila! When the transaction is confirmed, your LP tokens will be staked into the smart contract successfully, and your rewards will start accumulating. You can claim rewards every Wednesday, easy!

Disclaimer

It is possible that users who choose to build ℓUSD by staking LINA tokens and subsequently deposit said ℓUSD into Linear Vaults may experience losses due to debt pool fluctuations. With this in mind please deposit with caution. A further announcement will be made with a mechanism to help mitigate this risk in the coming weeks.

For further questions on the Linear Vault, please feel free to join and ask in our official Discord anytime!

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.

Website | Exchange |Discord | Twitter | Announcements

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Linear Finance

Linear Finance

A Decentralized Delta-One Asset Protocol with Unlimited Liquidity