What is LINA Token? LINA Coin Review and Linear Finance Project

Coin Lina – another token from a DeFi project in the series of decentralized finance projects that Finance Solutes wants to introduce to you. The Lina token belongs to the Linear Finance project. In this article, we will answer detailed questions about what Linear Finance is, how the project works, who are the people behind Lina Network, what Lina coin is, whether Lina Network is a scam or trustworthy, and whether it’s a good time to buy Lina coin.

1. WHAT IS LINEAR FINANCE?

Linear Finance is a decentralized, non-custodial delta-one asset protocol with cross-chain integration, allowing traders to create, manage, and trade various types of assets. This enables Lina Network users to access a wide range of assets without actually owning them.

Through cross-chain decentralization, Linear Finance can improve exchange speeds, enhance security, and offer more cost-effective solutions for various assets. With a combination of significant technical expertise from multiple cryptocurrency projects, financial governance experience, and a structure borrowed from traditional asset management companies worldwide, the Lina Coin network has introduced one of the first DeFi projects built on the Ethereum blockchain with cross-chain integration.

1.1. Lina Network System Structure

Both Lina coin and the Lina Network are built on Ethereum. As most traders know, Ethereum is a blockchain with very high gas transaction fees. To effectively address the transaction costs and virtual currencies of DeFi projects built on Ethereum, Linear Finance has chosen to adopt a cross-chain approach by supporting both Ethereum-compatible blockchains and EVM (Ethereum Virtual Machine) blockchains.

Typically, protocol systems handle separate cryptocurrency wallets, but the Lina Coin network connects wallets and records them on smart contracts. The Linear Finance platform includes four main features:

• Linear Buildr: A component in the decentralized application suite of the Lina Coin network. Users can stake Lina tokens to mint or burn LUSD, the currency of Linear Exchange. Through this, investors can earn rewards and reduce some transaction fees on the Linear Exchange. In short, the three functions of Linear Buildr are “Build, Burn, and Claim.”

• Linear Exchange: This feature was officially launched by Linear Finance at the end of January 2021, allowing synthetic assets to be created using Lina Coin as the collateral. The current liquidity services include digital assets, commodities, indices, and more.

• Linear Swap: In addition to Ethereum, Linear Finance is also built on Binance Smart Chain with the goal of accommodating all users and ensuring that transaction costs are not a barrier to joining the Lina Coin network platform. This allows users to access the DeFi ecosystem on both protocols. Users can freely swap assets from Linear Finance, including LINA tokens, LUSD, and Liquids, between Ethereum and BSC.

 

1.2. Who Founded the Lina Finance Coin Project?

The team at Linear Finance has a diverse and comprehensive expertise in finance, business, and technology. The Lina Finance Coin project was co-founded by two individuals: Drey Ng and Kevin Tai. According to information on LinkedIn, there are currently around 11 key personnel working for Linear Finance, including 4 individuals holding director positions in various departments:

• Drey Ng: Co-founder and currently the Chief Technology Officer (CTO) of Linear Finance. Drey has experience leading encryption projects in the real estate industry and investment funds.
• Kevin Tai: Co-founder and currently the CEO of Lina Coin. Kevin is known for his experience in mergers and acquisitions, as well as creating structured debt products for numerous banks across Asia.

• Aedreon Marshall: Chief Marketing Officer (CMO)
  Marshall has brought numerous partnerships to the Linear Coin project thanks to his experience in the cryptocurrency and blockchain industries.
• Jonathan Lei: The fourth pillar of Linear Finance, Jonathan is the lead developer. He has extensive experience in blockchain technology and building decentralized applications (dApps). Besides the Lina Coin project, Jonathan is also the co-founder, CTO, and lead developer for a cryptocurrency exchange called DueDex.

2. UNIQUE FEATURES OF THE LINA ECOSYSTEM

The Linear Finance platform promises users unlimited liquidity and zero slippage in any case. Below are some unique features of the Lina Coin network:

• Fast Transactions, Low Fees: This is both an advantage and a distinctive feature of Lina Network, as discussed earlier, explaining why transaction costs are low.
• Built on Ethereum, Cross-Chain Compatibility: Continuing from the low-cost feature, its cross-chain compatibility means that the LINA ecosystem can connect and interact with other DeFi projects. In addition to Binance Smart Chain, the project is also researching other chains to expand the LINA Network.

• User Customization: Users within the network can fully adjust their systems and their risk-reward ratios by using tokens, commodities, or indices.
• Using Smart Contracts to Link Blockchains: By connecting two blockchains through smart contracts, the Lina Coin network can fully support DeFi, facilitate liquidity creation and trading, all while reducing gas fees. Additionally, verifying blockchain compatibility with EVM is much faster compared to Ethereum.

3. WHAT IS LINA TOKEN?

LINA token is the utility token of the Linear Network, and it is used for various purposes, including:

• Governance: By holding Lina coins, owners can participate in LinearDao, the governance mechanism of the Lina Network. They can vote on proposals, improvements related to synthetic assets, collateral ratios, fees, and other suggestions.
• Staking: As mentioned earlier, Lina token holders can choose to stake their tokens to earn rewards within protocols and create LUSD.

3.1. Basic Information about LINA Coin

In addition to understanding how the protocol works or what makes the LINA coin special, here are some basic details about the coin that traders and investors can easily find on LINA Coinmarketcap or LINA Coingecko:

• Symbol: LINA
• Token Standard: ERC20, BEP20
• LINA Market Cap: $80,827,560.71 USD
• Max Total Supply: 10,000,000,000 LINA tokens
• Circulating Supply: 3,551,359,409 LINA coins
• Current Price of LINA Coin: $0.02324

LINA Coin Smart Contract Address:

• ERC20: 0x3e9bc21c9b189c09df3ef1b824798658d5011937
• BEP20: 0x762539b45a1dcce3d36d080f74d1aed37844b878

3.2. LINA Token Allocation

The total initial supply, which is also the maximum supply, is 10,000,000,000 LINA coins. The distribution is as follows:

• Seed Sale: 2.40% of the total supply
• Private Sale 1: 3.5% of the total supply
• Private Sale 2: 2.67% of the total supply
• Private Sale 3: 0.80% of the total supply
• Public Sale: 0.63%
• Development Team: 10.00% of the total supply
• Advisor Group: 5.00% of the total LINA coins
• Liquidity for Trading: 5.00% of the total supply
• LINA Ecosystem: 10.00% of the total supply
• Community: 5.00% of the LINA tokens
• Reserves: 15.00% of the total supply
• LINA Token Staking Rewards: 40.00% of the total supply

The chart below shows the amount and timing of monthly LINA Coin distribution. The portion of LINA tokens allocated for reserves will be determined through LinearDAO. The staking rewards for LINA tokens will initially be deducted from the staking reward allocation and transaction fees on the Lina Network platform.

4. EARNING MONEY WITH LINA COIN

Traders and investors can earn money by holding LINA coins. Here are some of the benefits when staking LINA tokens:

• Transaction Fee Rewards: Currently, the transaction fee on the Linear Exchange platform is 0.25%, which is redistributed to LINA stakers based on the amount they hold.
• Inflation Rewards: The inflation rate for LINA Coin starts at 75% and decreases weekly. Inflation rewards will also be distributed to LINA coin holders who stake their tokens.
• Yield Farming: Yield farmers contribute to maintaining pools and platforms. During the first two years of the project, active participants on the exchange will receive additional rewards in LINA tokens. These reward tokens can be transferred to liquidity pools such as Balancer, Uniswap, and Curve.

4.1. Where to buy LINA Coin?

To use the services and products of Linear Finance, users need to hold the platform’s native token, LINA Coin. You can easily purchase LINA coins on major leading exchanges, including both centralized and decentralized cryptocurrency exchanges. Some well-known names include Binance, KuCoin, Gate.io, and decentralized exchanges like Uniswap.

The storage of LINA coins is not particularly complicated or subject to strict requirements. You can store them in any cryptocurrency wallet that supports ERC20 tokens. However, Linear Exchange currently only supports Metamask and WalletConnect wallets.

4.2. How to participate in LINA Token staking

In addition to staking LINA coins directly on the Linear Finance platform via Linear Vault, traders and investors can also stake LINA tokens with Linear Finance’s partners such as OpenDAO. Users can stake LINA tokens in OpenDAO’s OmniVault. Rewards will be automatically accumulated, and in addition to LINA tokens, users can also receive $USDO.

Before starting to stake LINA coins on OpenDAO, ensure that the wallet you intend to connect has LINA tokens and some BNB for gas fees. Visit the OmniVault homepage and connect your Metamask or WalletConnect wallet.

In the “Vault” tab, you can easily find the pool to stake LINA coins. Simply click on it, and the system will display the interface as shown below. Click “Create ZAP,” then enter the amount of LINA coins you want to stake, and click “Supply.” After that, approve and confirm the transaction to complete the staking process.

5. SECURITY ASSESSMENT: IS LINA NETWORK A SCAM OR NOT?

The price of LINA coin during the Seed Sale round was $0.00125 per token, and during the public sale, it was $0.00450 per LINA coin. The highest price it ever reached was $0.3126 in March 2021. Over the past year, although the price has increased, it has not yet reached the ATH level, with the highest price only around $0.06. This has led many investors to question whether LINA Network is a scam or if the network is truly safe.

Firstly, despite the price drop, by the end of 2021, the project still released the latest roadmap for LINA Coin in 2022, which focuses on improving the UI/UX interface of Linear, officially launching LinearDAO by the end of 2021, and starting in 2022, adding more indices to Linear Exchange and expanding liquidity staking. If we pay attention to Q3 2022, depending on MoonBeam – the smart contract on Polkadot, Linear Finance planned to integrate Polkadot. By the end of 2022, the project also aimed to begin developing Linear Layer 2.

Regarding security, one can look at the fact that LINA Coin is built on the Ethereum blockchain. The LINA network takes advantage of one of the largest Proof-of-Work (PoW) consensus blockchains to ensure the security of its tokens.

6. CONCLUSION 

It can be said that if we only consider the increasing gas fee on the Ethereum blockchain, Linear Finance is clearly providing an opportunity and a new solution to address this issue. With the details provided in today’s article about LINA Coin, we hope you have found answers to questions like what LINA token is, what ecosystem it belongs to, and the various features offered by the LINA network.