[Serenity Premium] Stablecoin and Delta Neutral Opportunities On Linea [Initial Review Apr 2024]
Linea is the ZK rollup EVM built by Consensys, the company behind Metamask and Infura. As of today, the total assets on Linea is about $500m according to DefiLlama and about $180m are invested in DeFi protocols. This article gives a quick overview of the simple stablecoin or delta neutral opportunities on Linea.
Top Protocols on Linea
The largest protocol on Linea is LST protocol Renzo, followed by two lending protocols, Zerolend and Mendi. The largest DEX is Lynex, Linea's native DEX. There's no tokens planned yet, nor there's any point system like other chains such as Blast.
Gas token is ETH, and a transaction takes about 10 to 20 cents. Some protocols have transaction fees subsidized under the official Gas Pass program. Lineascan is the official explorer, but there a few others like OkLink as well. Block speed is about 3 seconds.
If you use Metamask, Linea is by default added to the list of chains supported (so far there are only Ethereum and Linea, and testnets). Otherwise, add Chain ID 59144 and Infura RPC, of course.
For trading, there're quite a few DEXes but most of them are small; the biggest one Lynex has about $20m TVL. So it's better to use an aggregator. Kyberswap and Okx are available on Linea.
Bridge
There's an official bridge connecting Ethereum and Linea, and there's a manual claim step when making a bridging transaction. Using official bridge, the return trip takes 8 to 32 hours. Most other popular bridges also support Linea, including Stargate and Li.Fi. I use Across personally, the fee for bridging USDC.e from Arbitrum to Linea is about 0.04%.
No harm checking out bridging aggregator Jumper or Rango as well.
Stablecoin Yield - Mendi
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