Jan 11, 2021 · 2 min read · cat
To Linear Community:
I would like to provide you with an important update regarding the status of our development progress.
Over the last few weeks, we have seen a rapid increase in Bitcoin and Ethereum prices. Whilst this bodes well for investors, for DeFi protocols with complex smart contract logic on the Ethereum chain such as ourselves, users end up bearing substantial increased transaction (gas) costs. This issue adversely affects all users but is particularly painful to smaller investors who find gas costs which exceed their LINA investment amount. Linear was designed for all users (no matter how much LINA you hold) and transaction costs will not become a barrier to entry. Nobody will get left behind.
As such, we would like to confirm that we will be releasing Linear.Builder Mainnet v2.0 with full Binance Smart Chain (BSC) integration and swap functionality on 15/01/2021. As of this announcement, our Mainnet v2.0 code is under review by our auditors SlowMist and is in the final stages of internal testing. Upon launch, we will be migrating Buildr and all user’s staked and locked LINA and ℓUSD to BSC. Similar to our previous migration, this will be a seamless experience for users and should take no longer than 8 hours. Post-migration, users will need to complete a few steps on their Metamask to interact with Buildr on BSC. We will confirm the details prior to the release.
Upon completion of Buildr v2.0, users will find the steps of staking/unstaking LINA, building ℓUSD, burning ℓUSD, and claiming rewards on BSC to be faster and substantially cheaper. We will maintain cross-chain compatibility with the Ethereum chain through our Swap functionality. In addition, we have received user feedback on the Buildr UI/UX and the team will add a number of functionalities and improvements proposed by the community in the impending Buildr launch.
Upon the introduction of Linear.Buildr Mainnet v2.0, we will prepare for the launch of Linear.Exchange v1.0 which will follow shortly thereafter. Our tech team has revamped the system architecture and are working on delivering the final code to the auditors.
I want to thank all of our users, particularly those who have been with us from the beginning, believing in us. Our team has worked tirelessly to get to this point. This is the beginning of a series of developments that we believe will stand us in good stead to truly disrupt the industry.