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.

Despite initial success following its launch in 2019-2020, Linear Finance has faced persistent challenges in generating sustainable revenue, with the project being sustained by personal contributions from the founders.

Part of the statement read, “The project has been funded through a combination of personal contributions from the project owner and token liquidations. Unfortunately, this model is no longer viable. The recent decision by Binance to delist the LINA token accelerated these challenges, resulting in a 65% reduction in market capitalization and a significant loss of the remaining operational runway.”

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 a final message to its community, the team expressed gratitude to supporters and stakeholders, acknowledging their belief in Linear Finance’s vision. While the protocol is shutting down, its impact on the DeFi space remains part of the growing landscape of blockchain-based financial solutions.

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