DeFi Agreement Linear Finance Announces It Will Cease Operations
On March 27th, according to official news, DeFi protocol Linear Finance announced that it will cease operations, saying that despite years of commitment to innovation and development of the project, it has not been able to achieve sustainable returns. In addition to a short-lived profit in the early 2019/2020 period, Linear Finance has been facing increasing financial pressure. Funding for the project mainly comes from personal contributions from project owners and token liquidation, but this model is no longer viable. Binance's decision to remove LINA tokens has exacerbated the financial difficulties of the project, resulting in a 65% shrinkage in market value and a significant reduction in remaining operating funds. Therefore, the main stakeholders of the project jointly decided to end operations. The operating team will contact users with active positions as soon as possible and provide detailed timelines and guidance.