Today (November 13), Ethereum Layer-2 network Linea announced the hotly anticipated launch of its LINEA token by the end of Q1 2025. The Consensys-backed L2 made the announcement at Devcon 2024, in Bangkok
Also introduced at Devcon is the launch of the Linea Association. It is an independent Swiss non-profit organization that will oversee development and governance in the firm’s latest step toward decentralization.
Metamask's parent company ConsenSys announced the establishment of the Linea Association, a NGO based in Switzerland, to advance the decentralization of its Layer-2 zkEVM. The association plans to launch the Linea token in the first quarter of 2025. https://t.co/FhR2gMkKAl
— Wu Blockchain (@WuBlockchain) November 13, 2024
Newly Created ‘Linea Association’ Will Oversee The Launch Of The Networks Native Token In Q1 2025
The association will work independently from Consensys and will house core Linea intellectual property alongside a treasury to support its mission. It is to be governed by a multi-layered structure that includes a board of directors, a general assembly, employees reporting to an Executive Director and a token governance body.
In a congratulatory post made on his X account, Ethereum co-founder and founder of Consensys said, “As Consensys progresses toward decentralization, Linea represents a foundational step in our vision of creating a Network State for the emerging decentralized global economy, one of many overlapping Network States in which we expect to participate, By decentralizing critical elements of our ecosystem, including governance, infrastructure, and community empowerment, we aim to foster a more resilient and transparent web3.”
Congratulations @LineaBuild and @LineaAssn .
As Consensys progresses toward decentralization, Linea represents a foundational step in our vision of creating a Network State for the emerging decentralized global economy, one of many overlapping Network States in which we expect to… https://t.co/8mg0Bmker0
— Joseph Lubin (@ethereumJoseph) November 13, 2024
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No Details Released On Tokenomics Or Snapshot Dates For LINEA Token
The DevCon launch aligns with Linea’s proposed decentralization roadmap which was unveiled last month. In the roadmap, were detailed steps to transition the zkEVM to a permissionless system, including a proof-of-stake model for block validation.
A core feature of the Linea Association’s operations will be tokenholder governance, with the anticipated Q1 LINEA token generation event (TGE) allowing users to participate in network decision-making.
No further details on the tokenomics or snapshot timeframe for token allocations have yet to be made.However, Linea have said tokens will be distributed to ecosystem contributors, with LINEA taking on additional utility beyond governance over time.
Big News: Linea TGE Date is Out! 🔥 @LineaBuild just shared that they’re aiming to launch the LINEA token by the end of Q1 2025—so we might see that airdrop by March!
They also mentioned the snapshot date hasn’t been announced yet, which likely means it hasn’t been taken.
For… pic.twitter.com/O7Ua8NLhgJ
— Airdrop Adventure 🧭 (@Airdrop_Adv) November 13, 2024
Beyond DevCon: Even Without A Native Token Linea Is Still A Top 15 Blockchain
The Linea mainnet has been live for just over one year, launching back in August 2023. Since then, the L2 has amassed over $500 million in total-value locked (TVL). Per DefiLlama, it is the number 15 ranked chain by daily and weekly volume. Even without a native token, Linea is currently processing more volume than the likes of Fantom, Blast and TON.
Linea claims to have become the fastest-growing zkEVM on Ethereum, surpassing 230 million total transactions in less than 15 months. Its ecosystem has reportedly expanded from 150 partners to more than 400 in the same timeframe.
( Source: DefiLlama )
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