TechFlow news — On March 27, according to an official announcement from the cross-chain synthetic asset protocol Linear Finance, the project has decided to cease operations.
The full statement reads: "After careful consideration, Linear Finance has made the difficult decision to cease operations.
Despite years of innovation and development efforts, the project has struggled to generate sustainable returns. Apart from a brief period of profitability during its initial launch in 2019/20, Linear Finance has faced increasing financial challenges.
Funding for the project came from personal contributions by project owners and token liquidations. Unfortunately, this model is no longer viable. Binance’s recent decision to delist the LINA token accelerated these challenges, resulting in a 65% reduction in market capitalization and severely damaging the remaining operational runway.
As a result, the project’s key stakeholders have collectively decided to exit and have resigned.
Our operations team will soon contact you with a clear timeline and step-by-step instructions for users who hold active positions in our dApp.
To our community, supporters, and partners: thank you for being part of our journey. We deeply appreciate your belief in the vision of Linear Finance, and we wish you all the best in your future endeavors."
