Community Program Extension, Increased Referrals and New Sharedrop Tier
Hey, Linen App community:
We are excited to unpack a lot of things for you today.
1. Upgrading our Wallet
Our private beta testing on iOS is going really well and we are receiving invaluable feedback from participants! We are working hard on upgrading our digital assets wallet so that we can accommodate Android users and provide access to additional interest-earning opportunities both in DeFi and through our partners. iOS users have already had a sneak preview of our coming soon feature.
2. Increased Referral Rewards and Extending Community Rewards Program
We listened to your feedback and have extended the Community Rewards Program! With this extension comes an increased referral participation Reward from $2 to $5 worth of future equity for you and your friends who fully register with Linen App. Just open the app, and you will find your referral code there if you completed full registration. Your prior participation will be retroactively adjusted on May 5th to reflect the increased amount ;)
3. Additional Earning Opportunities
We are thrilled to add an additional opportunity to earn future equity for those participating in our private beta testing program. Starting today, anyone who has assets deposited to the Compound USDC Liquidity Pool, and in the future to any other DeFi liquidity pool or with our partners through Linen App, will earn 1% APY on digital dollars in future equity rewards.
This 1% APY in future equity rewards is earned independently of what you would earn on Compound. For example, if you add $500 worth of the digital dollars USDC to Compound, you will earn $5 worth of future equity in 12 months in addition to other earnings (if any) available through Compound. Your future equity earnings will be reported to Republic and displayed in your Republic dashboard. Keep in mind that it may take up to two weeks to see your participation rewards on Republic. This is our way of saying thank you!
And, remember that withdrawals of assets from the Compound Liquidity Pool are available at any time, granted there is enough liquidity in DeFi liquidity pools at the time of withdrawal.
Just as startups grant early employees stock options, we want to reward our early members with future equity and build Linen App together with our community. Imagine being one of the first users of some of the biggest tech companies and receiving an investment in that company – it’s an exclusive opportunity. You, our community, are why we are launching Linen App.
4. Housekeeping Things
In the coming days please expect an email from Republic asking Community Program participants to reconfirm participation due to changes in the sharedrop terms and to provide the information necessary to open custodial accounts to hold your investment (sharedrop) in Linen Mobile, Inc. No cost to the Community Program participants in connections with setting up custodial accounts.
As always, use in-app chat to reach out to us with any questions or just say “hi”! For compliance reasons, all questions related to the Community Program and Rewards should be directed only to the Discussion Board on Republic.
Thank you!
Vitaly