Linen App

About the offering

Our journey - We are launching Linen App now because we saw a knowledge gap between the tech and finance savvy who earn high yield using stablecoins (pegged 1:1 to the U.S. dollar) and the rest who do not know how to use services powered by blockchain-based technologies. Linen App lowers barriers to entry to these emerging markets for everyone. Linen Cash, a cash management service powered by liquidity pools on the Compound protocol, was created with that idea in mind. Linen Card, a debit card to spend Linen Cash, will be launched later. We have raised funds from the leading fintech investors including Coinbase, Polychain Capital, HashKey Capital, and Wyre Capital. Now, we want to build a community and reward our early users in the form of future ownership in Linen App. Our early users can benefit from our success, if we do well. You, our community, are the key reason we exist. The problem - Yields on fixed income investments in the U.S. are correlated with the Fed Funds Rate (key interest rate benchmark in the U.S.) and debt capital markets and are trending downward. Fed Funds Rate was cut by 0.25% in August, September, and October 2019, a 0.75% decrease within a short timespan. Savers and investors have to find less liquid investment options that generate higher returns or have to accept lower returns to stay in liquid investments. Solution - Linen App is an iOS and Android app that provides access to liquidity pools on the Ethereum blockchain. Interest rates in liquidity pools accessed using Linen App do not correlate with traditional financial markets. Users of Linen App have the ability to supply funds to these liquidity pools and earn interest. Interest is paid by borrowers. Loans are collateralized by cryptocurrency and collateral ratio is monitored in real-time by the underlying Compound protocol. U.S. dollars are converted to digital dollars (stablecoins, cryptocurrency) which are pegged 1:1 to the U.S. dollar. Compound protocol allows to withdraw funds at any time. We are planning to issue a Linen Card for the convenience of spending funds supplied to liquidity pools.

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