Dec 15, 2021 · 11 min read · cat
We hope you guys enjoyed PANews AMA with Linear Co-Founder Kevin Tai and Sifchain’s Sif-Moon. Please find the most interesting points in the recap below.
Kevin | Linear: Hello!
Sif-Moon | Sifchain: Hello! So great to be here
Nicole | PANews (Host): Welcome!!!
Okay。 Let’s start it!
Could you please briefly introduce yourself and your project to our community, respectively?
Kevin | Linear Finance: Hey everyone! I’m Kevin, co-founder of Linear Finance, a project I have been working on for over a year and a half now.
Linear Finance is the first decentralized cross-chain delta one asset protocol. We allow our users to trade synthetic versions (Liquids) of their favorite tokens, indices, and commodities in a seamless and cost-effective environment. Linear’s utility token $LINA has two standards: BEP-20 to allow users to trade without worrying about high gas fees and ERC-20 so we can integrate with the growing number of protocols in the DeFi space.
Sif-Moon | Sifchain: My name is sif_moon! For the first year with Sifchain, I was a Product Manager, primarily responsible for bringing our initial DEX to launch. I was then responsible for bringing our v2 DEX to launch, completely re-vamped with it being IBC enabled. Most recently, I have moved into a Lead of Business Development & Operations role, bringing my way and style of product management to the business side of the world. Prior to Sifchain, I worked as a Product Manager for an aerospace company, and a product manager for a layer 1 blockchain project.
Sifchain is an omni-chain decentralized exchange. Now, what does that mean exactly? Well, for one: us being decentralized means that no one entity is in sole ownership of the exchange. Instead, the exchange is fully run and controlled by the community and the ecosystem. The goal of being truly and fully decentralized, which is what we are working towards, is that if the team at Sifchain ceases to exist: Sifchain will still live on as it has no single point of failure. Next, an Omni-Chain DEX. This means that we are connecting multiple chains into the Sifchain DEX to allow users to easily import/export any token from any chain in the world, and to swap any of those tokens to any other tokens in the world very quickly and cheaply.
Nicole | PANews: Cool! I guess after a brief intro of Sifchain and Linear, our community would like to know more about your understanding of the industry as well as more about the projects and your collaborations.
The next question is: DeFi 2.0 has been a hot topic in the past months. Could you please share your views on DeFi 2.0, say, what is DeFi 2.0 about and how it will impact the development of Linear Finance and Sifchain now and in the future?
Kevin | Linear Finance: We are quite aware of the latest and most popular DeFi trends and we will follow if possible and on this front. To this day there’s no clear definition of DeFi 2.0 out there, some protocols have defined it as “owning the liquidity”.
I believe it’s still very early to know what impact it will have in the industry, and if it will be as big of a gamechanger to call it DeFi 2.0.
For Linear, we will be expanding our multi-collateral staking pools to LP tokens. For the 3,3 projects, we are still looking at ways how we can integrate this into our protocol. So this is an initiative that we will continue exploring.
Sif-Moon | Sifchain: Sifchain has done A LOT of analysis around potential DeFi 2.0 initiatives and how Sifchain can incorporate them. DeFi 2.0 at its core is all about long-term sustainable liquidity. To meet this goal, there are so many creative ways and approaches that can be used.
The community at Sifchain has recommended some incredible ideas and thoughts around these types of initiatives as well. The Sifchain team has thoroughly spec’d out multiple DeFi 2.0 type programs that are sitting and waiting to be tackled by the team.
We believe that the combination of these programs, along with our core features of Omni-EVM and Deep Margin, will position Sifchain as one of the top decentralized exchanges in the world.
Nicole | PANews: There is so much to expect! I have one question for Linear and Sifchain respectively. This one will be for Linear.
Linear has been keen on expanding its footprint in DeFi. Could you please share your recent achievements/updates and how these milestones/updates will contribute to the development of Linear’s ecosystem as well as DeFi 2.0 as a whole?
Kevin | Linear Finance: Sure thing… We have been working very hard on different ends of our protocol.
On top of that, we are constantly working on new marketing campaigns to grow our community and the awareness of Linear Finance. When you look at all these achievements/updates as a whole you can get a clear picture of what DeFi ecosystem we want to create for our users.
Nicole | PANews: Thanks a lot for the detailed answers. The next question is for Sifchain.
The introduction of IBC marks a new chapter for Sifchain as it evolves into becoming the world’s first Omni-chain DEX. It is said that this has unlocked new possibilities. But to users, what are the exact new possibilities? Any new updates to share with our community?
Sif-Moon | Sifchain: Sifchain is on a mission to become the first decentralized Omni-Chain DEX. In describing Omni-EVM to people, I frequently use this analogy of how it positions Sifchain as this central Hub of an airport that really never existed before.
At this very moment, you can fly in and out of Sifchain to the Cosmos ecosystem (via IBC) and Ethereum (via our solution we call ‘peggy’). This is already pretty cool by itself as we are currently the only ‘hub’ that can do this.
However, what is going to make things really cool is when we spin up more and more places to fly in and out of. You can fly in quickly and easily from any of these blockchain connections, and fly out to ANY destination with the same ease and convenience. Then, when you are in Sifchain you can quickly swap assets for any other assets within Sifchain super quickly for like pennies.
We are creating connections between chains that would have never existed before. We are creating a one-stop-shop where all of your assets should really be stored so you can swap to/from them in a single click. Simply put, we are creating the future of DEXs here. The way it should be done.
Nicole | PANews: Great! I love this fly-in and fly-out description! Very much like a HUB indeed. Now the question will be for both of you.
Cross-chain interoperability is widely talked about now. But why is it so important to the development of ecosystems? What measures/programs do you have in place to improve the interoperability on Linear and Sifchain, respectively?
Kevin | Linear Finance: From Linear’s perspective, cross-chain interoperability has always been at the forefront of our development, we started on ETH quickly integrated with BSC and soon we’ll also see integration on Kusama and Polkadot. We firmly believe that it is not only important to have cross-chain interoperability, but it’s vital that liquidity flows across chains so that we don’t end up with siloed ecosystems.
Sif-Moon | Sifchain: We are all about cross-chain interoperability! Sifchain envisions a world where any asset can easily and quickly move from any blockchain to any other blockchain in the world. This takes on a core value of crypto-currency: borderless and easy transfer of funds from anywhere to anywhere. Value, data, and assets should easily and seamlessly be able to be moved and used on any blockchain.
Sifchain is directly enabling this through our Omni-EVM feature. Omni-EVM will be based around our v2 of Peggy. This Peggy 2.0 will make it easy to spin up new connections to new chains, making access points to new blockchains an easy and quick process. It will also include batching of transactions, which means that import and export fees will be shared across ALL transactions that are contained in that batch, making each individual user’s fees extremely small.
Nicole | PANews: I guess our community now understands better about cross-chain interoperability. But there is another keyword in DeFi: Liquidity. This question is still for both of you.
Liquidity is a focus in DeFi. Linear recently launched a $ROWAN/$LINA liquidity pool on Sifchain. Also, Sif’s Expansion Liquidity Mining Program is live now. Could you please kindly share more details on the two recent programs and how can people benefit from them?
Kevin | Linear Finance: At Linear, we are always looking for new applications for $LINA holders to get the most out of their tokens. When initially partnering with Sifchain the $ROWAN/$LINA liquidity pool was a great way for our users to add liquidity to that pool and earn rewards.
Now that Sif’s Expansion campaign started a few weeks ago, this has become even more attractive for our users that are now earning 100% APR on the $ROWAN/$LINA liquidity. And we are gonna be pushing strong to get votes from our community for the next “Pools of the People” make sure we get that 300% APR for users who had liquidity to the $ROWAN/$LINA liquidity pool.
Sif-Moon | Sifchain: Yes! I am so happy you asked. We have launched Sif’s Expansion! This means that ALL liquidity in the DEX will earn rewards. EVERY pool within the DEX will have at least 100% APR. 5 select pools (currently: ATOM, JUNO, UST, ETH, ZCX) will earn at least 300% APR. ALL liquidity in these pools (regardless of when the liquidity was added to the pool) will earn these rewards at these percentages.
Also, unlike other liquidity mining programs where users begin to earn less the more that other people participate, Sif’s Expansion is not that way. The more people that add liquidity and join the better. You will not earn less APR percentage. We want to expand together. Spread the word. Add liquidity. Let’s build Sifchain up together.
Nicole | PANews: It sounds exciting!!!
Still a question for both of you.
After this, do you have any plans for further collaborations? If yes, what will it be about?
Kevin | Linear Finance: Given both Linear Finance and Sifchain’s nature, I believe that there are a number of possible collaborations we can work on down the line. In our case, we’re home to a wide variety of synthetic assets we call Liquids. One immediate cooperation that comes to mind would be to start a second liquidity pool with one of our Liquids, I think it would be very interesting to see a $ROWAN/ℓUSD or why not a $ROWAN/ℓBTC pool for example.
Sif-Moon | Sifchain: We are always looking for continuous expansion with all of our Partnerships. We want to be a core partner to the Linear team and will continue to find creative and unique ways to increase the value of their project and ecosystem.
Nicole | PANews: We are really looking forward to seeing more of your collaborations in the future. The next question is for Linear.
Many blockchain projects are now transitioning to DAO. How does LinearDAO work? What kind of decisions will LinearDAO make and how can it help Linear to achieve goals?
Kevin | Linear Finance: Ever since we started Linear Finance we knew we wanted the project to evolve into a DAO. Now we’re only days away from launching LinearDAO! In terms of how it works, we set up the governance model with these three ideas in mind:
Allow the community to propose and drive changes to the protocol. Enable the community to influence and shape the future of the protocol. And ensure the healthiness and long-term growth of the protocol.
If you want to read more on how the LinearDAO works, be sure to check this Medium post we made a few weeks back:
Nicole | PANews: Here is the last question of the Q&A Session. I guess many people are curious about your planning for the future.
Could you please kindly share your upcoming plans/roadmap for 2022 for Linear and Sifchain with our community, respectively?
Kevin | Linear Finance: Sure, we just released our updated roadmap a few weeks ago in which you’ll find the major milestones we’re looking at for the end of 2021 and going forward into 2022. There will of course be smaller milestones and partnerships announced and implemented along the way.
We are currently working on getting our Kusama integration completed via Moonriver, which has proven to be quite the task… expect more details coming very soon. Once we’ve got MoonRiver set up, we’re looking forward to integration on Polkadot as well through our partner Moonbeam. We have also got an L2 solution further down the pipeline for our users and look to utilize ZKRollup.
Sif-Moon | Sifchain: Our goals for 2022 while ambitious, are very attainable. For one, we will be an Omni-chain DEX with MANY connections between Sifchain and various other EVM compatible chains, positioning us the leading and preferred DEX to swap to and from any asset. Potential first connections include Solana, Moon River/Moon Beam, Avalanche, Fantom, Celo, Hamonry, Polygon, and much much more!
Next, we will have launched margin trading and have brought in mass amounts of swap activity, swap volume, and liquidity into the DEX. Lastly, we will have SifDAO setup and fully operational, making Sifchain a fully decentralized project across every aspect.
Nicole | PANews: Wow! There is so much information to take in!
Thanks for answering the above questions, Sif-Moon, Kevin. It’s very informative for us to get to learn more about Sifchain and Linear.
Sif-Moon | Sifchain: Thank you everyone! So great to be here. Please make sure to check out dex.sifchain.finance, pool so liquidity and earn rewards from Sif Expansion!
Kevin | Linear Finance: Thanks so much!! and it was great speaking with everyone
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.