Linear Finance is shutting down because of persistent financial troubles worsened by Binance removing their LINA token from trading. The team plans to offer guidance on how users can sell off their investments, signaling the conclusion of the project’s lengthy run.
Cross-Chain Protocol Linear Finance Winds Down After Market Woes
Linear Finance, a cross-chain synthetic asset protocol, has officially announced that it will cease operations due to prolonged financial struggles. According to a post on its X handle, the team cited an unsustainable funding model and the recent delisting of its LINA token by Binance, which caused a 65% drop in market value, as key reasons for the decision.
Although Linear Finance saw early achievements upon its debut between 2019 and 2020, it’s encountered ongoing difficulties in creating long-term income streams. The initiative has been kept afloat primarily through financial support provided by the founders themselves.
This project has been supported financially by both the project owner’s personal investments and token liquidations. However, it appears this funding approach is no longer sustainable. The move by Binance to de-list the LINA token has exacerbated these difficulties, leading to a dramatic 65% decrease in market capitalization and a substantial erosion of our operational lifespan.
As part of the wind-down process, Linear Finance’s operations team will reach out to users with a timeline and instructions for liquidating active positions across its decentralized applications.
In closing, our team conveyed heartfelt thanks to our supporters and partners, recognizing their faith in the aspirations of Linear Finance. Although our platform will cease operation, the influence it had on the Decentralized Finance (DeFi) sector continues to be a significant part of the expanding blockchain financial solution landscape.
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2025-03-27 19:58