DeFi protocol Linear Finance announced that it will cease operations

ChainCatcher news, according to official sources, the DeFi protocol Linear Finance has announced that it will cease operations. It stated that despite years of commitment to innovation and development, it has failed to achieve sustainable returns. Linear Finance has faced increasing financial pressure, with only a brief period of profitability in early 2019/2020.

The project's funding primarily came from personal contributions by the project owners and token liquidation, but this model is no longer viable. Binance's decision to delist the LINA token has exacerbated the project's financial difficulties, leading to a 65% reduction in market capitalization and significantly decreasing the remaining operational funds.

As a result, the project's main stakeholders have collectively decided to end operations. The operations team will contact users with active positions as soon as possible and provide a detailed timeline and guidance.