LiNEAR - Liquid Staking on NEAR Protocol

LiNEAR Protocol is a liquid staking solution built on the NEAR Protocol. LiNEAR unlocks liquidity of the staked NEAR by creating a staking derivative to be engaged with various DeFi protocols on NEAR and Aurora, while also enjoying over 10% APY staking rewards of the underlying base tokens. LiNEAR is the cornerstone piece of the NEAR-Aurora DeFi ecosystem.

• Documentation

Contracts

The LiNEAR smart contracts are implemented with NEAR Rust SDK. The core contract is located in contracts/linear, and several mock contracts were made for testing various scenarios via simulation test.

The v1.0.0 contract release has been audited by BlockSec. According to BlockSec's auditing report, no critical issues were found, and few low-risk minor issues were reported and have been fixed.

Deployment

Mainnet

• LiNEAR contract and $LiNEAR token: linear-protocol.near

Testnet

• LiNEAR contract and $LiNEAR token: linear-protocol.testnet

Development

Build

• Build all artifacts: make
• Build linear only: make linear

Test

We adopt unit tests and heavily used the workspace-js test framework to test the major scenarios and workflow of the LiNEAR smart contract in the Sandbox environment. Lint with rustfmt and clippy is also required when making changes to contract.

• Install node v16
• Run npm i to set up the environment
• Run lint with rustfmt and clippy: make lint
• Run all tests: make test
• Run LiNEAR simulation tests:
  • Run all: make test-linear
  • Run specific test file: TEST_FILE={filename} make test-linear
  • Print contract logs: LOGS=1 make test-linear

Deploy

A CLI tool is made to help deploy and manage the contract. In order to use it, run npm i first.

All CLI arguments could be passed as environment variables as well, with LI prefix.

• deploy contract:

  • ./bin/cli.js deploy linear.testnet

• init contract:

  • ./bin/cli.js init linear.testnet --signer owner.testnet --owner_id owner.testnet

Release

• Checkout a release branch from main
  • git checkout -b release/v1.0.x
• Make sure all tests pass:
  • make test
• Update version in contracts/linear/Cargo.toml
• Git commit version update and push the release branch:
  • git commit -m 'v1.0.x'
  • git push origin release/v1.0.x
• Create a PR from the release branch
• Once the PR is merged, publish a new release on GitHub

Manage

Drain

Drain is to totally remove a validator from candidate list, all funds on it will be re-distributed among others.

1. Make sure there is currently no unstaked balance on it. If there is, call epoch_withdraw to withdraw.
2. Set validator weight to 0, which can be done by either removing this validator from nodes list or set its weight to 0 directly. Run set-node command to update the weight.
3. Run drain-unstake to unstake all funds from the validator.
4. After 4 epoches, run drain-withdraw to withdraw and restake those funds.

Design

Terminologies

• total_share_amount: Total amount of LiNEAR that was minted (minus burned).
• total_staked_near_amount: Total amount of NEAR that was staked by users to this contract.
  This is effectively 1) amount of NEAR that was deposited to this contract but hasn't yet been staked on any validators + 2) amount of NEAR that has already been staked on validators.
  Note that the amount of NEAR that is pending release or is already released by hasn't been withdrawn is not considered.
• stake_share_price: how much NEAR does one stake share (LiNEAR) worth. equals to : total_near_amount / total_share_amount.

Information for Developers

More useful information for developers who're building with LiNEAR

LiNEAR App URLs

• mainnet: https://app.linearprotocol.org
• testnet: https://testnet.linearprotocol.org

LiNEAR contract addresses on NEAR:

• mainnet: linear-protocol.near
• testnet: linear-protocol.testnet

$LiNEAR ERC20 contracts on Aurora (bridged via Rainbow Bridge)

• mainnet: 0x918dbe087040a41b786f0da83190c293dae24749
• testnet: 0xe4979cac5d70f01697f795f0ad56bbca05912c44

Data source: https://github.com/aurora-is-near/bridge-assets/tree/master/tokens

$LiNEAR Oracles

Oracles on Aurora mainnet:

• LINEAR / NEAR (Flux): 0x8f975aC6deFD2c9d50c58BABF4B1f880E6dE7996
• LINEAR / USD (Flux): 0x2eBf49106814Fcd8685ed6c8a7315Ca528CdA232

Oracles on NEAR mainnet:

• LINEAR / NEAR (Flux): NEAR_ENV=mainnet near view fpo.opfilabs.near get_entry '{"pair": "LINEAR/NEAR", "provider": "opfilabs.near"}'
• LINEAR / USD (price oracle): NEAR_ENV=mainnet near view priceoracle.near get_price_data '{"asset_ids": ["linear-protocol.near"]}'

More details about Flux oracles can be found from Flux docs