Crypto Quill

Linear Protocol, a cross-chain compatible decentralized synthetic asset protocol, has announced the launch of its governance token LNR-USD on its platform. The token will allow users to participate in the decision-making process of the protocol and benefit from its growth.

What is Linear Protocol?

Linear Protocol is a DeFi protocol that enables users to create, trade, and manage synthetic assets (Liquids) that track the prices of real-world assets, such as cryptocurrencies, commodities, forex, indices, and more. Liquids are backed by LINA, the native utility token of Linear Protocol, which is staked and collateralized on the protocol to generate ℓUSD, the synthetic stablecoin used to purchase Liquids.

Linear Protocol is built on both Binance Smart Chain and Ethereum, allowing users to swap Linear’s assets across both DeFi ecosystems and use them as DeFi building blocks. Linear Protocol also plans to integrate with Polkadot in the future, to further enhance its cross-chain compatibility and scalability.

What is LNR-USD?

LNR-USD is the governance token of Linear Protocol, which represents the ownership and voting rights of the protocol. LNR-USD is minted by staking LINA tokens on the protocol, and can be used to vote on various proposals related to the development and improvement of Linear Protocol, such as synthetic asset listings, fee revenue splits, collateral ratio, and more.

LNR-USD holders will also be entitled to a share of the trading fees generated on Linear Exchange, the decentralized exchange where users can trade Liquids with low slippage and high liquidity. LNR-USD holders can claim their fee rewards by burning their LNR-USD tokens.

What is Restaking?

Restaking is a new feature introduced by Linear Protocol, which allows users to automatically stake their LINA tokens and mint LNR-USD tokens, without having to manually perform these actions. Restaking simplifies the user experience and reduces the gas fees involved in staking and minting.

Restaking also enables users to compound their staking rewards and fee rewards, by automatically reinvesting them into the protocol and increasing their LINA and LNR-USD balances. Restaking can be enabled or disabled by users at any time, according to their preferences.

How to Get Started with Linear Protocol?

To get started with Linear Protocol, users need to have some LINA tokens, which can be purchased on various exchanges, such as Binance, Uniswap, PancakeSwap, and more. Users can then stake their LINA tokens on Linear Buildr, the dApp where users can interact with the protocol and mint ℓUSD and LNR-USD tokens.

Users can then use their ℓUSD tokens to buy Liquids on Linear Exchange, or use them in other DeFi protocols on Binance Smart Chain and Ethereum. Users can also use their LNR-USD tokens to vote on governance proposals and claim fee rewards on Linear DAO, the dApp where users can manage the protocol and access its community.

Linear Protocol is a revolutionary DeFi protocol that offers users a fast, cheap, and secure way to access synthetic assets and participate in its governance. By launching its LNR-USD token and restaking feature, Linear Protocol aims to empower its users and reward them for their contribution to the protocol.