Here are my thoughts on why I believe the Binance monitoring tag is no longer justified. Note that I am not part of the Linear team but an investor holding LINA. I have followed this team/ project since 2021, including all its ups and downs, and I believe that great things will happen with the new team composition and roadmap.
Here is my reasoning:
Commitment of the Team
The Linear Finance team has shown strong commitment by actively engaging in industry events, such as the recent SmartCon, where team members were accessible to attendees and engaged directly with the community. This active presence in industry events emphasizes their commitment to transparency and community building, solidifying Linear’s role as a reliable player within the DeFi sector.
Quality of Development Activity
Linear Finance’s development efforts are robust, with key recent advancements such as the Linear Marketplace. This marketplace is now cross-chain compatible using eth and bsc and more to come, reflecting Linear’s commitment to technical progress and usability. Furthermore, in response to community feedback, Linear replaced the marketplace stablecoin from BUSD to USDT, addressing community concerns. This user-centered approach to development underscores the project’s adaptability and attention to user experience. Finally, the upcoming release of the perpetual dex is just another development that will add towards enhancing the DeFi experience for all users.
Trading Volume and Liquidity
LINA’s trading volume on Binance has been stable, with a recent upward trend. As of the time of writing, over the past 24 hours, trading volume reached approximately $8.78 million, with a steady share of 29.32% of the total LINA trading across exchanges. This consistent activity indicates growing interest in LINA on Binance, adding to the liquidity and reinforcing its position as a reliable trading asset. The increased trading volume demonstrates continued user interest and a reliable market presence, aligning with Binance’s criteria for maintaining active and engaged trading communities.
Network Stability and Security
Built with cross-chain compatibility and secure collateral management, Linear’s network is both stable and resistant to common vulnerabilities. Recent updates, to name Greenfield incorporation, have fortified the network against attacks, aligning with Binance’s standards for reliability and security in the DeFi space.
Smart Contract Reliability
Linear Finance employs a reliable and secure infrastructure, supported by regular smart contract updates and rigorous testing. From my personal experience the synthetic exchange and marketplace work really smooth and i could not observe any issues on my trading or experience. This attention to contract security and stability ensures that users can rely on the platform, meeting Binance’s requirements for a secure operational environment.
Public Communication and Transparency
The Linear Finance team prioritizes public engagement, consistently communicating with its user base through multiple channels. Regular updates are posted on X, ensuring followers are informed of platform advancements, partnerships, and development updates. Their recent attendance at the Chainlink conference further reinforced their commitment to transparent communication and community engagement. Moreover, they maintain a steady flow of information on Medium, which provides in-depth updates on product changes and developments, enabling users to stay well-informed. This level of public communication and outreach supports Binance’s standards for transparency and user engagement.
Ethical Conduct
Linear Finance has adhered to high ethical standards, with a governance structure designed to promote transparency and encourage community involvement. This strong ethical positioning is in line with Binance’s criteria for supporting projects that uphold community trust.
Regulatory Compliance
Linear operates as a decentralized, non-custodial protocol, which allows it to remain adaptive to evolving regulatory standards while maintaining user security and control over assets. This compliance-ready structure minimizes regulatory risks, meeting Binance’s standards for regulatory adherence.
Contribution to a Sustainable Crypto Ecosystem
Through the development of synthetic assets, a user-centric marketplace and perpetual decentralized exchange, Linear is contributing to a sustainable DeFi ecosystem. Innovations like the cross-chain compatible Linear Marketplace support Binance’s broader goals of promoting long-term, accessible, and secure DeFi solutions.
Responsiveness to Due Diligence
This is the only point on the Binance list that I cannot comment on, as I am not part of the team and, therefore, not privy to this type of information. However, based on everything I have observed so far from the team, especially Jason's involvement, I can only assume that the team is incredibly responsive to any requests Binance makes of them.
Conclusion
In light of Linear Finance’s ongoing developmental progress, increased trading activity, responsiveness to feedback, security improvements, and ethical community engagement, the project aligns well with Binance’s criteria for removing the monitoring tag. Linear’s commitment to transparency, adaptability, and regulatory alignment demonstrates its potential as a stable and trustworthy project, meriting the removal of the monitoring tag.
