What is Linear (LINA) | What is Linear token | What is LINA token
What is Linear (LINA)?
Linear is a decentralized delta-one asset protocol capable of instantly creating synthetic assets with unlimited liquidity. The project opens traditional assets like commodities, forex, market indices and other thematic sectors to cryptocurrency users by supporting the creation of “Liquids” — Linear’s synthetic asset tokens.
The protocol consists of various products like Linear.Buildr, a DApp used to manage Liquids using Linear (LINA) and other tokens as collateral. The exchange is specifically created to enable trading of a variety of Liquids with rapid confirmation times and robust security.
LINA is an ERC-20 token built on the Ethereum network whose main purpose is as collateral for Liquids (using Buildr) and for community governance of the protocol. All token holders have access to the Linear DAO, enabling them to vote on different initiatives and proposals, helping to shape the development of the Linear ecosystem.
The main goal of Linear is to provide a superior user experience with better scalability and greater speed thanks to the cross-chain capabilities of the protocol. Linear Finance intends to provide a simple solution for users that want exposure to traditional assets while still benefiting from the features enabled only by blockchain technology.
Who Are the Founders of Linear?
Linear Finance was co-founded by Drey Ng and Kevin Tai and has a small team of less than a dozen individuals according to the official Linear Finance
Drey Ng is co-founder and current chief product officer of Liquefy, a platform that offers access to tokenized securities by lowering the barriers to entry. He is also a blockchain instructor in Hong Kong and has several years of experience in the fintech industry.
Kevin Tai was the vice president of Credit Suisse in Hong Kong, a prominent global wealth manager and an investment bank. He graduated from Harvard Business School and has more than a decade of experience in the economy sector.
What Makes Linear Unique?
Although Linear Finance is built on top of the Ethereum network, the protocol allows users to access other supported chains and transfer assets to them. In addition to digital assets, Linear enables customers to access traditional assets like forex and commodities through dynamic price feeds which act to solve the systemic front-running problem that occurs with many decentralized exchange DEX protocols.
LINA tokens serve as the base collateral to mint Liquids. However, customers can also use other digital assets like ETH and wBTC to cover 20% of this base collateral. The Linear Exchange provides unlimited liquidity for Liquids and lowers the settlement timeframe to as low as one second per block — making it suitable for high-frequency traders and those running algorithmic trading software.
In time, Linear Finance users will be able to access synthetic traditional assets and ultimately equities in the near-term. The cross-chain approach helps Linear reduce fees and solves the oracle frontrunning issue that can occur with some existing protocols on Ethereum.
One of Linear Finance’s most unique features is its proposed liquidation mechanism, which will be decided based on community governance. LINA holders are able to help choose transaction fees and how much to allocate to the insurance fund, among other options by voting.
How Many Linear (LINA) Coins Are There in Circulation?
The total supply of LINA is currently 10 billion tokens. Linear utilizes an inflationary system with a decreasing rate until a terminal floor is reached. The inflation rate is initially set at 75%, but this decreases at 1.5% per week— and is subject to modification if a consensus is achieved by the LinearDAO.
Linear Finance secured a $1.8 million investment from reputable seed investors like Alameda Research, NGC Ventures and Hashed. In addition, the project conducted a small initial coin offering (ICO) in September 2020, raising a total of $310,000 by selling LINA tokens at $0.005 with a personal cap of $500 per participant.
Of the total supply, 40% is reserved for staking rewards, 15% for the Linear Finance reserve, and 10% to the ecosystem. The team also has a 10% allocation, while advisors have 5% — both team and advisor tokens are subject to a vesting schedule.
As per early projections by the Linear team, 40% of the LINA supply will be in circulation around 40 months after the genesis event, though this may be lower due to potential token burns.
How Is the Linear Finance Network Secured?
As an ERC-20 token built on the Ethereum Network, Linear leverages one of the largest proof-of-work (POW) mining networks to secure its tokens.
\ On top of this, the LinearDAO was created to give LINA holders the power to vote on proposals that help ensure the Linear Finance ecosystem develops along the path desired by its users. The actual Linear Finance delta.one asset protocol is trustless and based on Ethereum smart contracts, which can be updated should the need arise.
Binance Will List Linear (LINA) in the Innovation Zone. Purchase LINA Tokens with BNB at a 30% Discount Prior to Trading Using the Launchpad Subscription Format!
Binance is excited to bring another Launchpad subscription format to our standard listing process for Linear (LINA) . Users will be able to purchase LINA tokens using BNB at a 30% discount prior to the trading start time. The subscription period will start shortly at 2021-03-18 5:00 AM (UTC) and will be open for 4 hours.
The recording of BNB balances for this session is already complete, and was recorded for 7 days between 2021-03-11 0:00 AM (UTC) to 2021-03-18 0:00 AM (UTC). This was mentioned in our previous Launchpad announcement , where the recording of BNB balances may start before an announcement is made.
Binance will list Linear (LINA) in the Innovation Zone and open trading for LINA/BTC, LINA/BUSD and LINA/USDT trading pairs at 2021-03-18 12:00 PM (UTC). Users can start depositing LINA now in preparation for trading.
LINA Discount Sale Details:
- Token Name: Linear (LINA)
- Discount Sale Hard Cap: 1,800,000 USD
- Discount Sale Token Price: 1 LINA = 0.00031044 BNB (0.08537279 USD, using a BNB price of 275 USD)
- Hard Cap Per User: 35,140 LINA (3,000 USD or 10.90909091 BNB, using a BNB price of 275 USD)
- Tokens Offered: 21,084,000 LINA (0.21084% of Total Token Supply)
- Total Token Supply: 10,000,000,000 LINA
- Current Circulating Supply: 1,541,731,678 LINA (15.4% of Total Token Supply as of 2021-03-18)
- Discount Sale Format: Subscription
- Supported Sessions: BNB only
Read the Subscription Format Guide and FAQ for more detailed instructions on how to participate.
Subscription Timeline:
- BNB Calculation Period 2021-03-11 0:00 AM (UTC) to 2021-03-18 0:00 AM (UTC): During this period, user BNB balances were calculated in hourly snapshots for each day over a 7-day period. Your average daily BNB balance over these 7 days will determine the maximum amount of BNB that you can commit later on.
- Subscription Period 2021-03-18 5:00 AM (UTC) to 2021-03-18 9:00 AM (UTC): Subscription will open at this time for all eligible users for a 4 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
- Calculation Period 2021-03-18 9:00 AM (UTC) to 2021-03-18 10:00 AM (UTC): Subscription closes and token allocation calculation begins.
- Final Token Distribution 2021-03-18 10:00 AM (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your LINA and BNB tokens will both be transferred to your spot wallet.
Would you like to earn LINA right now! ☞ CLICK HERE
How and Where to Buy LINA ?
LINA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy LINA
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, BUSD …
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, BUSD
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
After the deposit is confirmed you may then purchase LINA from the exchange.
The top exchanges for trading in Linear are currently Binance, Huobi Global, Upbit, FTX, and Bithumb
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once LINA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information LINA
☞ Website
☞ Explorer
☞ Social Channel
☞ Message Board
☞ Coinmarketcap
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
I hope this post will help you. If you liked this, please sharing it with others. Thank you!
#cryptocurrency #bitcoin #blockchain #linear #lina
