Introduces $LNR Governance Token with Genesis Airdrop

LiNEAR Protocol, the pioneering omnichain liquidity staking/restaking platform in the NEAR ecosystem, is thrilled to announce the launch of its governance token, $LNR. The initial batch of liquid tokens will be distributed via genesis airdrop to the LiNEAR community members who have been active participants of the protocol. $LNR will enable token holders to govern the LiNEAR Protocol and participate in the decision making process for staking and restaking strategies, multichain deployment, setting staking pool fees and more. LiNEAR Protocol plans to distribute additional tokens via further airdrops and various marketing and liquidity initiatives.

From the Largest DeFi Protocol on Near to the 1st Omnichain Restaking Protocol

LiNEAR has been the leading DeFi protocol on Near with the highest TVL and was built by early core contributors to Near Protocol. It was the first to offer various revolutionary liquid staking features, such as the Automatic Validator Optimization Algorithm which re-delegates up to 200 active nodes, significantly enhancing the security and decentralization of NEAR.

As a part of its omnichain roadmap, LiNEAR is set to expand its restaking solutions across multiple chains,envisioning a future where users can stake a variety of assets, such as NEAR and ETH, and unlock exceptional yield from restaking. What sets LiNEAR apart is its commitment to user-friendly experiences, facilitated by using an aggregated account to abstract away the complexity of operating across multiple chains. This feature ensures seamless management of multichain staking and restaking positions, allowing users to navigate and maximize the potential benefits from their diverse assets. By offering LRT (Liquid Restaking Tokens) in multiple ecosystems, $LNR is set to become the omnichain restaking governance token with the power to shape the restaking landscape, partnering with Eigenlayer, Octopus Network, and more.

Unveiling $LNR — the Key to LiNEAR Governance

$LNR is the key to active participation in the governance of the LiNEAR Protocol. Holders of $LNR will be empowered to make decisions related to staking and restaking strategies, multi-chain deployment, and more, ensuring a truly decentralized and community-driven ecosystem.

The total supply of $LNR tokens is 1,000,000,000. 10% of the tokens will be distributed to LiNEAR stakers through the genesis airdrop. And 9% will be allocated for team incentives with a one-year cliff followed by a linear vesting over the next three years. Additionally, 11% of the tokens are reserved for future airdrops, 8% for protocol development, 12% for marketing and operations, and 27% for community initiatives. The remaining 23% will be stored in the DAO treasury.

$LNR Genesis Airdrops

The genesis airdrop of $LNR has been released; it‘s based on snapshots taken from April 5, 2022 to December 31, 2023. Anyone holding $LiNEAR or using $LiNEAR in DeFi protocols such as Ref/Jumbo LP, Burrow, and Phoenix bonds during this period is likely eligible to receive $LNR through the airdrop.

The genesis airdrop consists of 100,000,000 $LNR tokens, 10% of the total supply. The exact amount is determined by a user score, calculated based on the staking time, the staking amount, and the DeFi protocol coefficient.

User Score = Staking Time × Staking Amount × DeFi Protocol Coefficient/ 10²³

The DeFi protocol coefficient is determined based on the user’s engagement with LiNEAR Protocol in other DeFi protocols. If LiNEAR is not used for DeFi, the default coefficient is 1. Engaging in Ref/Jumbo or Phoenix bonds gives a coefficient of 2, while Burrow deposits have a coefficient of 1.

The amount of $LNR tokens that a user receives in the airdrop is determined by the formula below:

This method ensures a fair distribution of airdrop rewards, taking into account various factors such as impermanent loss and the degree of risks.

Claiming Your $LNR Rewards:

From now until April 15, 2024 12:00 UTC, $LiNEAR holders/users can visit https://app.linearprotocol.org/airdrop , log in to their NEAR wallet, check their points, and claim their $LNR rewards seamlessly.

LiNEAR Protocol plans to distribute more $LNR tokens to active participants of the protocol via future airdrops and various marketing initiatives. Please join our community and stay tuned for future updates!

About LiNEAR

LiNEAR Protocol is the leading DeFi Protocol and the most secure liquid staking solution built on NEAR. LiNEAR unlocks liquidity of the staked NEAR by creating a staking derivative to be engaged with various DeFi protocols on NEAR and Aurora, while also enjoying the most competitive% APY from staking rewards. As the first protocol to introduce Automatic Validator Selection Optimization, Lockup Account Support and Restaking, LiNEAR revolutionizes the staking and DeFi experience on NEAR.