When Dreams of DeFi Go Bust: Linear Finance’s Dramatic Exit

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Ah, the world of decentralized finance, where fortunes are made and lost faster than one can say “blockchain.” This Thursday, the beleaguered Linear Finance, once a beacon of hope for crypto enthusiasts, announced its plans to cease operations. In a rather melodramatic post on X, dated March 27, the company issued a ‘Notice of Closure’—a phrase that sounds more like a funeral announcement than a business update. 📉

Linear Finance’s ‘Notice of Closure’: A Tragic Comedy

In its latest missive, Linear Finance revealed that the decision to pull the proverbial plug was not made lightly. Financial struggles, it seems, have become the unwelcome guest at their party. Despite their best efforts to innovate and grow, the DeFi protocol has been unable to conjure up sustainable returns. One might say they were trying to catch smoke with their bare hands. 🤷‍♂️

The ‘Notice of Closure’ turned heads, much like a cat turning its head at the sound of a can opener. The announcement lamented that, aside from a fleeting moment of profitability during its initial launch in 2019/20, the project has been beset by financial woes. It’s almost as if they were trying to build a sandcastle in a rising tide.

DeFi Protocol’s Model: A Comedy of Errors

Initially, the project was buoyed by a mix of personal contributions from the owner and token liquidations. However, Linear Finance has now declared that this model is as outdated as a rotary phone. Thus, they have decided to end the run, leaving behind a trail of broken dreams and empty wallets.

Adding insult to injury, Binance, the cryptocurrency exchange giant, recently announced plans to delist the LINA token. This news hit harder than a surprise visit from your in-laws. The delisting saga, chronicled on one of the top crypto exchanges, has reportedly slashed 65% off the coin’s market cap. Ouch! 😬

In light of these setbacks, the ‘Notice of Closure’ was issued, and the key stakeholders, perhaps over a cup of lukewarm coffee, collectively decided to wind down operations. It’s a classic case of “if you can’t beat them, just close up shop.”

LINA Price: A Comedy of Crashes

As of the latest update, the LINA price has taken a nosedive, witnessing a 6% dip and trading at a paltry $0.0006215. The coin’s intraday low and high were $0.0006091 and $0.0009516, respectively. Talk about a rollercoaster ride! 🎢

Weekly and monthly charts for the token reveal a staggering 67% and 72% crash, respectively. This bearish price movement can be primarily attributed to Binance’s delisting and Linear Finance’s dramatic exit from the stage. Meanwhile, crypto market participants are left waiting with bated breath for further details on this unfolding saga. Will there be a sequel? Only time will tell.

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2025-03-27 14:35