Linen App is an investment app designed for the digital generation.
Until now, the finance and tech-savvy were the only ones able to access Decentralized Finance (DeFi), also known as programmable money, and deposit digital dollars (stablecoins) to earn yield.
We have changed that! Linen App provides access to DeFi to everyone. Our technology and tools enable you to deposit funds into the Compound Liquidity Pool on the Ethereum blockchain directly from your bank.
How it works: Register, link your bank account, and supply digital dollars (stablecoins) to Compound. Membership is free.
SETUP IS EASY
Fast and intuitive setup to access Compound.
Our Ethereum-based self-custody wallet provides direct access to liquidity pools. Backup and recovery mechanisms allow access to your funds even if you lose your mobile device. The app is protected with Face ID, Touch ID, or Apple passcode. Linen App never has access to your digital assets.
WE ARE HERE TO HELP
Please reach out to us at email@example.com for support and feedback.
* Linen App does not generate yield (return) for its members. Yields are generated by the Compound Liquidity Pool on the Ethereum blockchain. Linen App provides tools to access the Compound Liquidity Pool. Neither Linen Mobile, Inc. nor Linen App set or control interest rates. The APY displayed on the linen.app website and in the mobile app is in real-time. The currently displayed interest rate may be lower or higher than it was stated previously.
Linen App is a self-custody wallet that allows U.S. residents of certain states to supply digital assets (stablecoins, cryptocurrency) to the Compound USDC Liquidity Pool. A self-custody wallet means that Linen Mobile, Inc. does not hold members’ funds. Funds are stored on the Ethereum blockchain and accessed using private keys stored on a mobile device. Members are solely responsible for safeguarding and backing up access (private keys) to their Linen App wallet. Linen App is software and tools developed by Linen Mobile, Inc. Linen Mobile, Inc. is not a bank, and any digital cash (cryptocurrency, digital assets) you supply using Linen App to the Compound Liquidity Pool will not be stored in a bank. Funds supplied to Compound Liquidity Pools using Linen App software and tools are not insured by the Federal Deposit Insurance Corporation (FDIC), Securities Investor Protection Corporation (SIPC) or any other federal, state, or local agency.
Linen Mobile, Inc. does not exchange stablecoins USDC (cryptocurrency) for its members. Exchange services are provided by a third party provider, Wyre Payments, Inc. Wyre Payments, Inc. is registered with FinCen as a Money Service Business (MSB), MSB Registration Number: 31000161439101, and is a licensed money transmitter in states that require it. Please refer to state licensing information https://www.sendwyre.com/licenses/.
Supplying digital assets (cryptocurrency) to the Compound Liquidity Pool using Linen App involves risk, and you may lose all funds by accessing these pools through Linen App. It is possible that Compound Liquidity Pools will not have enough liquidity at the time of withdrawal if the borrowing or withdrawal demand becomes high or for any other reasons.
Miscellaneous UI improvements and bug fixes
Ratings and ReviewsSee All
Previously excited, now disappointed
UPDATE (Nov. 26, 2019)
I received an email today from the Linen App team, stating: “Congratulations, there! You've been approved! Now you can add funds and start earning.”
A short while later, I received a follow-up email, essentially stating “just kidding, haha, you still have to wait.” Here’s the actual body text of that second email: “Please disregard our previous email as we were testing our new email notification system and sent emails to wrong people. Things happen when we move fast ;). Linen App is invite-only now and we are moving certain participants off the waitlist.
Apologies for the mix up.”
I’m docking one star for a disappointing first impression. But I’m hopeful the Linen App team will do better in the future.
Love the idea of giving more people access to higher-interest-earning platforms like Compound while minimizing their risk and lowering the barriers to entry. It’s also great to see Linen working with top-notch partners like Wyre. I’m eager to take Linen for a spin once I get moved off the waitlist. Best wishes to the team as they move forward and build the community!
Developer Response ,
UPDATE (Dec 22, 2019):
Thank you for emailing us to sort the notification issue out! I hope you are enjoying early access to Linen App. Happy Holidays!
Thanks for the feedback. We totally messed it up today with unintended emails. Please give us a chance to make it right as we take our waitlist participants feedback seriously. Email us at firstname.lastname@example.org and tell us that you were effected by our email notification testing. We will make it work for you.
Looking for an alternative way to earn interest on my money
Got referred and downloaded via a recommendation from a friend of mine. So far the app seems to be easy to set up and navigate. Deposited some money into my Linen account, which was pretty easy and straightforward. Excited to see my cash earning interest right away and looking forward to earning some extra cash.
Developer Response ,
Thanks a lot for your review and feedback. We are glad to have you among our early members. Help is always available via in-app chat. Happy Holidays!
Good DeFi app for the non tech savvy
This is a good app for participating in the Compound platform on Ethereum from your phone. It is basically an Ethereum wallet backed up to iCloud for USDC that’s automatically linked to Compound. The beauty of the app Is that you don’t need to know what any of that means to make it work. A good way to get more interest on your dollars than you can from a bank or money market fund.
Developer Response ,
Thank you for your review! We are glad you like the app. We make it easy to invest in DeFi. Compound is our first pool and many more will come later. More wallet backup and recovery options will be added later, for example: social recovery and hardware wallet recovery.
With Family Sharing set up, up to six family members can use this app.