Linear Finance, the latest addition to the decentralized finance (DeFi) landscape, secured a $1.8 million investment led by key strategic investors of the blockchain space. According to the press release shared with Altcoin Buzz, the financing was led by professional investment platforms like NGC Ventures, CMS Holdings, Genesis Block, Alameda Research, Hashed, and Kenetic Capital. They were joined by five more investment organizations.
Along with their investments, NGC Ventures and Hashed will also contribute towards the overall growth of this DeFi project. Mr. Tony Gu (NGC Ventures) and Mr. Ryan Kim (Hashed) will join the advisory board of Linear Finance. As advisors, they will share their tactical knowledge and experience of the DeFi space with the team.
Notably, NGC has been a key contributor to the growth of leading projects like Zilliqa. Thus, both leaders will help Linear Finance in financial innovation, market expansion, and building roadmaps for institutional liquidity.
Funds will accelerate the development
Linear Finance holds the potential to be one of the projects that will support and maintain the high growth rate of DeFi. The project holds tremendous potential because:
- The investors will be able to invest quickly and will be able to save fees and secure assets at a fair market price.
- On the Linear platform, the users can build and manage spot or portfolio exposures well.
- The protocol has unlimited liquidity.
- It will assist in the creation of synthetic assets (Liquids) with zero slippage.
- Cost-effective creation, trading, and management of synthetic assets (Liquids).
3. This means you will be able to invest in or create a portfolio with your favorite synthetic assets with unlimited liquidity and no slippage!
— Linear Finance (@LinearFinance) August 29, 2020
According to the press release, the investment will accelerate the development, deployment, and marketing of the Linear Finance testnet and mainnet. Once complete, Linear Finance will be the first cross-chain compatible, decentralized delta-one asset protocol.
Kevin Tai, co-founder of Linear Finance, said that the team is trying to resolve the issues present in existing synthetic asset protocols. According to Kevin, the strategic investor partnership will accelerate the development and deployment of the platform. The investor platforms are equally excited. According to Mr. Tony Gu, managing partner of NGC Ventures, Linear Finance is emerging as a leader in the synthetic asset space.
More at Linear Finance
Linear Finance is aggressively partnering with the best of the crypto space. Recently, it partnered with Tellor for scalable and decentralized Ethereum oracles.
The team is also working on Binance Smart Chain integration as a layer 2 solution. With this integration, it will solve issues faced by existing synthetic asset protocols.
At Altcoin Buzz, we have been keeping a close watch on the DeFi space. We have identified some low market DeFi projects that are worth investing in.