Important Update Regarding ℓXBCI and ℓXLCI

Important Update Regarding ℓXBCI and ℓXLCI

Mar 22, 2022 · 1 min read · cat

Share on:

Dear Linear Community,

We would like to inform you that Xangle, our index provider for ℓXBCI and ℓXLCI on Linear Exchange, has decided to consolidate a number of their indices, especially their large-cap indices. As such, they will be transitioning their research team to focus on a new Xangle Crypto Top 30 Index which will be supported on Linear Finance. As such, the support for ℓXBCI and ℓXLCI will soon cease. They will rebalance both indices one last time at the end of this month (March 31st).

Price feeds will be updated on ℓXBCI and ℓXLCI until April 30 2022 12:00 pm UTC (terminal price), and users will be allowed to sell their positions. After that date, users who did not close their positions will still be able to sell but at the terminal price.

The price of ℓXBCI and ℓXLCI will not be updated after April 30 2022 12:00 pm.

Additionally, we will update the UI by disabling the buy function from ℓXBCI and ℓXLCI. Holders of said indices will be displayed a reminder message when they use the exchange to notify them of the delistings and a link to this post.

The reason behind this update comes from Xangle who have been working on bringing new indices which are a better representation of the current crypto markets. The team at Linear appreciates the diligence and effort that Xangle puts into research and look forward to exploring listings of these new products.

Kind regards,

Linear Finance Team

About Linear Finance

Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.

Website | Exchange |Discord | Twitter | Announcements