Airdrop Linea: Launch of the token by the first quarter of 2025

Tuesday, November 12, 2024

ConsenSys has announced that the governance token for its Ethereum layer 2 will be distributed to its community by early next year. A Swiss association has also been set up to prepare for decentralisation.

After ZkSync and Scroll, the last of the big zkEVMs is getting ready to launch its governance token through an airdrop. US start-up ConsenSys, the company behind its development, made the official announcement in Bangkok at Devcon, one of the most important Ethereum ecosystem meetings in the world.

This announcement comes as "LXP Voyage", one of the quests offered in the hope of receiving the future token, has just come to an end. ConsenSys points out that no snapshots have been announced, which could mean that it is still possible to perform actions on the network to increase your chances (but this has not been confirmed). The company says that 1.3 million "user verified" addresses have already used Linea.

This token will initially be used to organise the governance of the network, but it is expected to have other functions in the future.

The gradual decentralisation of Linea is accompanied by the creation of a non-profit association based in Switzerland, as is the case with many projects (such as Ethereum). This will oversee the development and governance of the protocol.

Interviewed by The Big Whale in Bangkok, Linea founder Nicolas Liochon (also a board member of the Linea Association) says: "The launch of the token is part of a decentralisation strategy. We want to get the community involved and anticipate feedback right away. This token will have various uses: it could be used for transactions, the Proof of Stake, and certain paid services on the platform. In addition, we believe that this open approach will encourage new ideas for use from the community."

Since the launch of its mainnet in August 2023, Linea has become the fastest zkEVM on Ethereum, surpassing 230 million transactions in less than 15 months. According to DeFiLlama, the network ranks 6th among Ethereum's scalability solutions in terms of value, with just over $500 million in total value tied up (TVL) in its various applications.

It is the first in the zkEVM category (which also includes Scroll and ZkSync), a technology often presented as the future in this field (which opposes Optimistic Rollups such as Base, Arbitrum or Optimism).

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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