In accordance with the decision taken by the members of the Digital Asset Exchange Association (DAXA), of which Upbit is a member, it is ending its trading support for Linear Finance (LINA).
Upbit Announces Termination of Linear Finance (LINA) Trading Support
DAXA member companies may take measures to protect investors, such as investor warnings, designating items to be taken into consideration, and terminating trading support.
Terminating trading support for digital assets is in line with the policy of identifying digital assets as cautious assets and ending trading support.
Trading support for this digital asset will end at 19:00 on October 20, 2023.
During the termination of trading support, all orders (buy/sell) previously placed in the market will be canceled collectively.
After this notification, there will be airdrops, wallet upgrades, hard forks, etc. for the digital asset for which trading support is planned to be terminated. services will not be supported.
Upbit found that Linear Finance (LINA) digital assets used as collateral for the ℓUSD stablecoin were not properly pegged to a dollar, causing rapid fluctuations in the value of LINA.
Even after market trading support for this digital asset is terminated, withdrawals will be supported for 30 days (until November 19, 2023) according to the trading support termination policy.
*This is not investment advice.