Linear Finance, a decentralized delta-one asset protocol announced the introduction of Linear Exchange to its existing testnet functionality. According to the official announcement, the users would be able to test buy synthetic assets with ℓUSD. The exchange is a part of Linear’s decentralized product suite. Furthermore, it facilitates faster trades with almost unlimited liquidity. In addition to that, it will act as a platform where traders can expose themselves to synthetic assets.
Currently, Linear Finance exchange supports 3 liquid synthetic assets. The list includes Liquid Bitcoin (ℓBTC), Liquid Ethereum (ℓETH), and Liquid Huobi-10 (ℓHB10). However, once the mainnet goes live, more tradable investment assets will be added. To start using the Linear Exchange testnet, a user needs to have testnet ℓUSD.
Linear Finance is expanding Testnet functionality to include Linear Exchange!
Please read the Medium Article for details on how to participate: https://t.co/jsHMNNq4bz
Testnet Linear Exchange: https://t.co/KtT4ohX0Zy#LinearFinance #Testnet #LinearExchange pic.twitter.com/YaiCZid0HA
— Linear Finance (@LinearFinance) November 2, 2020
Exchange Features
The users can get ℓUSD by staking testnet LINA tokens or can purchase them on exchanges like Uniswap. In order to access the features of Linear Exchange, the user needs to connect his wallet to the interface. Once this is done, different liquids can be bought with ℓUSD.
1) The testnet Linear Exchange market panel currently shows 3 ℓUSD trading pairs (ℓBTC, ℓETH, and ℓHB10).
2) Live market price data is available via Tellor price oracles.
3) The exchange fees of 0.1% will be charged from the buying liquid.
4) Users can speed up the transaction by editing the gas fee. The options available are – Slow (12.1 mins), Medium (1.6 mins), and Fast (0.5 mins).
About Linear Finance
Linear Finance is a cross-chain compatible decentralized delta-one asset protocol. Additionally, the platform offers users an opportunity to make, manage, and trade synthetic assets. Thus, users can actually expose themselves to different kinds of assets without actually buying the underlying assets.
Additionally, it comes with a cross-chain compatibility feature. Hence it makes the exchange of synthetic assets faster, affordable, and secure. The platform’s native token LINA is a multi-purpose token. It can be staked, used to make payments, used to invest in liquids, and used for governance voting.
LINA price
Impressively, the LINA token is up by 32.9% in the last 24 hours and is trading close to $0.0087
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