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A deep dive into Lynex

Lynex DeFi

The Linea ecosystem has been growing rapidly and the first giants within this ecosystem are starting to emerge. Among these giants is Lynex — positioned as the liquidity engine of Linea and part of the Consensys Scale program. Let’s dive deeper into what Lynex is all about, and what makes them special.

As always, I’ll start by providing a brief TL;DR and telling you the best way to get involved. Let’s dig in!


  • Lynex is a DeFi powerhouse built on Linea.
  • If you’re actively collecting LXP-L as part of the Linea Surge program, then you should definitely be using Lynex. Its ALM/LP aggregator provides you with the best yield while minimizing impermanent loss. This is powerful in the context of the Surge program which rewards you for bringing liquidity into Linea.
  • Lynex’s key differentiators include their focus on LSTs, implementation of zk-technology in the entire protocol (zkLynex), and their novel ALM/LP aggregator.
  • Unlike most other DeFi protocols and DEXs, Lynex has a wide range of order types. From your standard swap to limit orders, cross orders, and TWAPs.
  • In a relatively short time-frame, Lynex has reached over $30M in TVL, facilitated $833M in trading volume, and grew to $15M+ daily trading volume.
  • Lynex’s vote-escrowed token model is a big success. Specifically, the governance participation of veLYNX holders is much higher than other DeFi protocols.

How to get involved?

  • Start using Lynex ( This is especially interesting for those trying to maximize their LXP-L earnings.
  • Lynex’s native token $LYNX is tradable on their own platform, as well as a handful of centralized exchanges.
  • Follow Lynex on Twitter: @LynexFi

What is Lynex?

Lynex is an exciting project built on Linea, a new EVM-L2 blockchain that’s rapidly gaining users and network activity. I would personally describe Lynex as a DeFi powerhouse, but what do they do exactly? It revolves around three main components:

  • a DEX centered around LSTs and LRTs
  • Liquidity solutions in the ZK domain
  • ALM/LP aggregator

LST-centric DEX

Lynex’s decentralized exchange (DEX) allows you to swap assets on top of Linea. A really interesting feature are the different types of swaps:

  • Swap -> your regular DEX swap as you’re used to
  • Limit -> allows you to set a specific price for buying and selling your assets
  • Twap -> automatically divides your order into smaller orders that are executed at  predetermined intervals. This reduces the price impact.
  • Cross -> cross-chain swaps. Perhaps the most interesting order type for me personally. Swap any asset on one chain, for any asset on another chain. In one transaction!

Liquidity solutions in the ZK domain

Let’s explore the ZK side of things, which is super interesting as well given the strides Lynex has made in this domain.

Lynex created one of the first ZK Dark Pools, introducing significant improvements in both transaction privacy and protection against MEV attacks. They call it zkLynex. The power of zk is that it allows one party to prove the possession of specific information to another party without revealing the actual information.

zkLynex is integrated in the entire platform, thus protecting the privacy of its users. And making sure they are safe from MEV attacks. Security and efficiency, baby!

ALM/LP aggregator

As if everything discussed so far is not impressive enough; there is another cool feature part of the Lynex-verse — their ALM/LP aggregator.

Lynex built a marketplaces for Automatic Liquidity Managers (ALM). In simple terms it grants you, the liquidity provider, access to enhanced yield. It helps you achieve the highest APY for your shekels, while simultaneously protecting you from impermanent loss. And all you have to do to achieve superior APY with impermanent loss protection, is to simply set and forget 🙂

How does it work? Lynex optimizes liquidity provision in concentrated liquidity pools. This maximizes fee earnings by efficiently allocating funds within specified price ranges, improving capital efficiency and simplifying liquidity management, while minimizing the risk of impermanent loss. Lynex manages all of this for you in the back-end.

Team, backers, and partners

As I always say, you should invest in people, not ideas. Well, here are some fun facts about the team:

  • Over 20 years of combined experience in DeFi
  • Core team members who authored the ERC-5725 Ethereum improvement proposals 
  • Team members that navigated ApeBond (ex ApeSwap), with over $750M TVL at its peak and $18B in total traded volume. They grew ApeBond to 1M monthly active users and it was the second most used dApp on Binance Smart Chain.

Additionally, a man is judged by the company he keeps, and a company is judged by the men it keeps. So let’s check who Lynex surrounds itself with, shall we?

To start off, Lynex has on boarded three strong advisors to provide them some guidance:

Lynex’s list of partners is also nothing to sneeze at. Partnering up with the greats of the industry, to name a couple names: Algebra,, Gamma, Linea, QiDao, Davos, Overnight, Thena, Orbs, Decubate, Stakestone, DAOmaker, ApeBond, Salus, Ankr Staking, ZeroLend, Mendi, and many more.

Vote-escrowed tokens and tokenomics

One final component I always spend time on when I’m looking into new projects is tokenomics.

For reference, here is the total supply split from $LYNX:

To make the token more sustainable Lynex utilizes a vote-escrowed token model, which is supported by its many revenue streams from the protocol.

The token-escrowed model refers to incentivizing token holders to lock their tokens to tap into the current and future growth of the protocol. For example, by granting token lockers access to a share of the total revenue.

The merit of utilizing a vote-escrowed token model is to create a so-called “flywheel”. Which symbolizes a positive feedback loop by finding synergy between all stakeholders in the ecosystem. Here is what Lynex’s flywheel looks like:

The flywheel shows how value positively flows between various stakeholders and participants in the Lynex universe.

To stay up-to-date with all things Lynex, check out their channels:

Thanks to Lynex for sponsoring this article! I hope you enjoyed it anon <3

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