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Linen App

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Easy to get 10 USD free! Their team of ex-bankers, technologists, and product designers started working in Decentralized Finance (DeFi) about two years ago. Our first products were LoanScan, the leading analytics portal for loans issued on the Ethereum blockchain, and a digital asset lending platform.

We launched Linen App because we identified a gap between the tech and finance savvy who are able to earn high yield on their cash and stablecoins and the rest who don’t have easy onramps to supplying digital dollars (stablecoins) to blockchain-based liquidity pools. We saw an opportunity to create easy to use tools and interface to access DeFI.

Linen’s mission is to empower individuals to self-custody their crypto assets and provide access to the ever-growing Decentralized Finance (DeFi). Linen App provides a streamlined user experience for the non-tech-savvy to earn yield on the digital dollars supplied to blockchain-based liquidity pools. Linen App's mobile self-custody wallet allows our members to connect their U.S. bank account to start supplying digital dollars (stablecoin USDC) to the Compound Liquidity Pool. This emerging field on the intersection of finance and technology is called Decentralized Finance or DeFi.

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Linen App members supply digital dollars (stablecoin USDC) to the Compound Liquidity Pool to earn yield. Members receive a record of their supplied balance in the form of a cUSDC digital asset from the Compound Liquidity Pool. A record is stored in your Linen App wallet and is your right to claim digital dollars (stablecoin USDC) back from the Compound Liquidity Pool. cUSDC accumulates interest through their exchange rate. Over time, each cUSDC becomes convertible into an increasing amount of USDC, even though the number of cUSDC in your wallet stays the same.

Borrowers supply collateral in the form of digital assets (cryptocurrency) to the Compound Liquidity Pool to borrow digital dollars (stablecoin USDC). The minimum collateral ratio to borrow varies from 115% to 150% of the loan amount and depends on the collateral type. Currently acceptable collateral by the Compound Liquidity Pool are digital assets: ETH, DAI, USDC, REP, SAI, WBTC, ZRX, and BAT. Interest rates in the Compound Liquidity Pool are set algorithmically based on the supply of digital assets (stablecoin USDC) to borrow from and the demand for USDC loans. Loans do not have a predetermined duration as long as the collateral ratio is maintained above the liquidation minimum.

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