Linera is a Layer 1 built around 'microchains' - giving each user their own fast, low-latency chain - designed for real-time and agentic apps such as HFT and on-chain gaming. Founded by ex-Meta/Libra researcher Mathieu Baudet, it is backed by a16z crypto and Borderless Capital. The network is progressing through public testnets (Archimedes, Babbage, Conway), with mainnet and the native token now targeted for Q4 2026. Testnet points are expected to convert into mainnet incentives; no token has launched yet.