Weekly Rewards Breakdown: June
Dear Linear Community,
Moving forward, during the last week of each month we will provide you with a breakdown of the month’s weekly rewards.
For those of you not familiar with our staking rewards program let’s have a quick re-cap.
The backbone of Linear Finance is the staking of LINA tokens. LINA tokens are staked and used as collateral to mint ℓUSD. Users who stake their LINA and mint ℓUSD act as the counter-party against all synthetic asset trades on Linear Exchange. In return, stakers are rewarded with inflationary rewards and pro-rata exchange fees generated on Linear Exchange on a weekly basis. Rewards to stakers are locked for 12 months before they can be freely tradeable. LINA collateral pool is the lynch-pin that enables trading without a counterparty to become a truly decentralized platform. 4,000,000,000 LINA tokens were allocated towards staking rewards, making up 40% of the initial token supply.
Staking rewards are distributed on a weekly basis and have a 2-week claiming period after which they are forfeited, and subsequently rolled over and shared with the other stakers.
The below table will give you an overview of the LINA rewards during June.
Stakers also earn ℓUSD from the trading fees on Linear Exchange. The trading fee is 0.25%, of which 70% goes to stakers, and 30% goes to the Foundation.
The below table will give you an overview of the LUSD fees collected during June.
We look forward to providing you with the next breakdown in a month.
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.