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Linea Updates Roadmap and Shares Airdrop Details

Linea Updates Roadmap and Shares Airdrop Details

ConsenSys’s Layer 2 network, Linea, has unveiled an updated roadmap. The project will be the first Layer 2 solution to burn Ethereum tokens.

Linea plans to burn 20% of transaction fees in ETH, which will reduce the cryptocurrency’s supply and support the value of its main network. The remaining 80% will be used to withdraw LINEA from circulation to create deflationary pressure.

This mechanism aims to strengthen the economic link between Ethereum’s second and first layers.

In October, the project will integrate native Ethereum staking into the Linea network. All rewards will be directed towards blockchain development.

“When transferring ETH to Linea, all funds will be automatically locked in staking, providing liquidity providers with optimal yield at minimal risk,” the developers explained.

The L2 solution team also announced the creation of a consortium, which will include Eigen Labs, ENS Labs, Status, and SharpLink. Over ten years, they will manage the Ethereum ecosystem fund, supporting application development and various research initiatives.

New members will join the consortium in the future. The developers promised to publish the charter governing the fund’s management soon.

According to L2Beat, Linea’s share among all Ethereum Layer 2 networks is 1.23%. At the time of writing, the TVL of the project exceeds $515 million.

Linea обновила дорожную карту и поделилась деталями аирдропа 
Top 10 L2 networks in the Ethereum ecosystem. Source: L2Beat.

Launch of the LINEA Token

The exact launch date of the LINEA token remains unknown. However, the L2 network team has revealed new airdrop details. According to the plan, 85% of the total coin supply will go towards ecosystem needs:

  • 10% for early users;
  • 75% for gradual distribution through the Ethereum fund.

The remaining 15% will go to ConsenSys’s treasury with a five-year lock-up period.

“The distribution of LINEA tokens reflects Ethereum’s key principles: maximum accessibility and a focus on ecosystem development. We aim to demonstrate a new standard for creating L2 solutions that directly strengthen the main network’s position and increase the value of its native cryptocurrency,” emphasized Linea head Declan Fox.

Back in January, the Linea Association, founded by ConsenSys to develop the eponymous L2, excluded 516,960 addresses from the total list of 1.29 million eligible for the airdrop.

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