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DeFi protocol Linear Finance is back online on BNB Chain
2023-11-22 06:54
Odaily News DeFi protocol Linear Finance, which was previously attacked, announced that it is back online on BNB Chain. Linear rebuilds the entire protocol, so some features are temporarily unavailable. Linear Finance stated that this week it plans to create a new USDT/LUSD pool on PancakeSwap and distribute LP tokens to previous holders, reopening the bridge; next week it will release reward collection and reward unlocking, resume liquidation, and restore sustainability. Trade and refund to previous holder, restore dashboard. According to previous news, Linear Finance was attacked on September 21, causing all LUSD liquidity on PancakeSwap and Ascendex to be emptied, and the LUSD price fell to zero. Linear Finance said days later that the protocol had been shut down for maintenance to restore the damage caused in the September 21 attack. User LINA assets are safe. At the end of October, Linear Finance issued a document on the X platform stating that it would reopen the protocol and launch a new website and brand, multi-collateral pledge, order book DEX, etc.