Aug 18, 2020 · 2 min read · cat
Over the past six months, the adoption of DeFi has skyrocketed, going from USD 550m to USD 6.39bn (as of August 18th, 2020) in Total Value Locked (TVL) with no end in sight. DeFi, the use of smart contracts and the Ethereum blockchain, has brought upon disruptive financial innovations with openness, cost reduction, and process automation. Most importantly, it has shown us the positive network effects of being a DeFi player in the expansive and growing Ethereum ecosystem.
Whilst Ethereum is considered the sun in the DeFi universe, many other developing blockchains are considered to be up and coming shining stars. Blockchains with innovative designs and architectures, built by selfless and ingenious developers who emphasized “composability” as a key feature that can be leveraged to facilitate the asset flow and growth of the corresponding DeFi infrastructure on the major chains.
And this is the beauty of “cross-chain compatibility” at Linear Finance. We are cross-chaining with other well-known and best-in-class protocols as an immediate Layer 2 solution to Ethereum scaling. Existing yet pre-mature L2 solutions still face challenges such as the tail risk of complex attacks, the prolonged challenge window, the assumption of honesty of aggregators or simply the application is still on simple token transfers and DEX trading functionality. As a result, this is what cross-compatibility means for our users:
We are working with a number of shining star blockchains and will announce them in due time. Stay tuned for updates. In the meantime, please follow us on Twitter, see our other articles on Medium, and join us for further discussion in our Telegram and Discord channel.
Drey Ng, Co-Founder, Linear Finance
Kevin Tai, Co-Founder, Linear Finance