LiNEAR Protocol launches Governance Token $LNR with restaking

The LiNEAR Protocol recently launched its latest governance token, $LNR. The protocol has also launched $bLiNEAR (boosted $LiNEAR), the first staking derivative token in DeFi.

$LNR holders can now directly influence LiNEAR’s staking strategy. The token also allots them the authority to set staking pool rates. Moreover, token holders will directly benefit from the LiNEAR Protocol’s growth.

Besides this, the liquid staking protocol on Near has also been unveiled, boosting $LiNEAR or $bLiNEAR. The token has been designed to unlock near-restaking liquidity for enhanced yield and capital efficiency among LiNEAR Protocol users.

LiNEAR is among the best premier liquid staking derivatives on Near. The protocol allows users to stake NEAR tokens for PoS rewards and LiNEAR tokens. $LiNEAR represents users’ staked NEAR tokens, which can be used in other DeFi protocols and crypto staking pools.

As for the recent development, LiNEAR has opened a new range of possibilities for network participants. The LNR token will empower users to participate in LiNEAR’s decision-making and development.

It will be used for insurance fund staking, governance decisions, revenue sharing, and incentive programs.

On the other hand, boosted $LNR is the latest asset type on Near. The token has been introduced to unlock liquidity for restaked NEAR tokens. Users will earn $bLiNEAR after depositing NEAR tokens in the $bLiNEAR staking pool. The step will automatically restake NEAR tokens for users.

The liquid token is usable in other DeFi protocols for activities such as liquidity provision or lending. Since $bLiNEAR is easily convertible to $NEAR, users can avoid the unbonding and unstaking procedure hassles.

Restaking also adds another layer of advantages to the Near protocol. It makes way for increased revenue for users who are restaking NEAR tokens. Moreover, the token will gain utility and value with more middleware and application chains using $NEAR as a collateral asset.

LiNEAR has also announced an airdrop campaign for $LNR for early $bLiNEAR and existing $LiNEAR adopters.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button