Dec 16, 2021 · 2 min read · cat
Dear Linear Community,
We know many of you are curious to know what the Linear Team has been working on over the last couple of months. Today we are thrilled to finally announce Chaotic!
Introducing Chaotic, a Community-driven delta-one asset protocol on Moonriver. Chaotic will allow users to trade long and short positions of their favorite tokens with up to four times leverage. Yes, you read that right, 4x leverage!
We know there has been a lot of discussion in the Linear Community regarding the distribution of $CHAOS, Chaotic’s utility token, and we want to clear any concerns with this post. $CHAOS will be airdropped to the Linear protocol supporters! The Linear team has always believed in a fair launch of $CHAOS, there was no other way we were going to do it.
A separate post of the precise distribution and metrics of the $CHAOS token will be released in the coming weeks. In the meantime, we want the Linear Community to know that the distribution of $CHAOS will be based on a historically time-weighted average of the debt you’ve held in Buildr.
When we say run by the Community we mean it. $CHAOS will also serve as Chaotic’s governance token and essential aspects of the protocol will be voted on and decided by Chaotic’s users.
These include the likes of:
The team wanted to build on Kusama and Polkadot from the very beginning. The question was through which Parachains? And after doing some thorough research, it became obvious there was only one option for us: Moonriver/Moonbeam.
There are many reasons behind our decision: Ethereum compatibility, an innovative and fast-paced network, a full set of developer tools, among many others. Most importantly, we believe in the team and their tireless efforts. It comes as no surprise that Moonriver is one of the most active DeFi ecosystems on the Kusama Network and we are proud to have set sail on this journey alongside our partners at Moonriver.
We would also like to take this opportunity to express our gratitude to the wonderful Linear Finance Community for your support since the beginning of the project, from the early adopters to newcomers and everyone in between who has joined us on this amazing ride. Thank you.
Stay tuned for more updates, Chaotic will be coming soon!
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.