Linear Finance Secures $1.8M Investment Led by NGC, Alameda Research, Hashed, CMS & Genesis Block
This is a press release from Linear Finance.
- Linear Finance secures strategic financing from reputable investors in the digital asset and blockchain space
- Investment will be used to further develop, deploy and market Linear Finance to become the first cross-chain compatible, decentralised delta-one asset protocol
- Mr. Tony Gu, Founding Partner of NGC Ventures and Mr. Ryan Kim, Co-founder of Hashed, will join Linear’s advisory board along with their investments.
September 9, 2020 — Today, we are proud to announce that Linear Finance has raised $1.8M in financing led by key strategic investors including NGC Ventures, Alameda Research, Hashed, CMS Holdings, Genesis Block & Kenetic Capital. The investment rounds are also joined by Evernew Capital, Soul Capital, Moonrock Capital, Black Edge Capital and PANONY as a strategic partner. Mr. Tony Gu, Founding Partner of NGC Ventures and Mr. Ryan Kim, Co-founder of Hashed, will join Linear’s advisory board along with their investments.
Founded and bootstrapped within a rapidly expanding DeFi ecosystem, Linear Finance is the first cross-chain compatible, decentralized delta-one asset protocol to quickly and cost-effectively, create, trade, and manage synthetic assets (Liquids).
Linear Finance will use the fresh funds to accelerate the development of both its testnet and mainnet and to deploy its go-to-market strategy this year.
“With DeFi, we are experiencing one of the most significant and important shifts in our cryptocurrency ecosystem. As we push to resolve issues we see in existing synthetic asset protocols such as poor usability, structural inefficiencies, and high systemic risk, we have selectively chosen strategic investors to partner with. Our strategic investors bring not only tactical knowledge and experience in the ever-changing DeFi space but also intelligence in areas such as financial innovation, key market expansion/adoption, and roadmaps to institutional liquidity.” said Kevin Tai, Co-Founder of Linear Finance.
“We are excited to start the journey with Linear Finance alongside other notable investors. We are impressed by the team’s experience across both the blockchain and financial markets space. Synthetic asset creation is a key part of the DeFi ecosystem and we believe Linear will emerge as a leader in this space.” said Mr. Tony Gu, Managing Partner of NGC Ventures.
Linear Finance is now integrating with Binance Smart Chain as a layer-two solution to solve issues that existing synthetic asset protocols face. The team is also actively collaborating with major DeFi players. Last week Linear Finance announced partnership with Tellor as one of the selected oracle providers to implement their decentralized Ethereum oracles.
Our Strategic Investors:
NGC Ventures: https://www.ngc.fund/
Alameda Research: https://www.alameda-research.com/
CMS Holdings: https://cmsholdings.io/
Genesis Block: https://genesisblockhk.com/
Kenetic Capital: https://kenetic.capital/
Evernew Capital: https://evernewcap.com/
Soul Capital: https://www.soulcapital.vc/
Moonrock Capital: https://www.moonrockcapital.io/
Black Edge Capital: https://blackedge.io/
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