The LINEA token will officially launch its airdrop process starting on September 10, 2023. This event will make over 9 billion tokens available to early users once the claim process opens, with a staggering 75% of the total token supply set to be distributed to active participants in its ecosystem.
Designed as an Ethereum layer-2 network, Linea aims to attract global capital to Ethereum through its upcoming LINEA token. Linea has been touted by its supporters as the most Ethereum-aligned layer-2 network available. The network plans to provide native yields to ETH stakers and has established an ecosystem fund composed of approximately 54 billion LINEA tokens to incentivize users to adopt its platform.
The eagerly anticipated token generation event (TGE) is scheduled for September 10, marking what many consider one of the most significant developments in the Ethereum ecosystem since the initial introduction of ETH. As of now, an eligibility checker for potential claimants has been made available online, allowing prospective users to verify their eligibility for the airdrop.
The LINEA token, distributed by the Swiss nonprofit Linea Association, serves as the native token for the layer-2 network. Developed by Consensys, a firm specializing in Ethereum software, the network is intended as an extension of Ethereum’s established layer-1 infrastructure. It’s important to note that unlike other layer-2 tokens, LINEA will not serve as the native gas token for the network; instead, ETH will be utilized to pay for transaction fees. LINEA will be unique in that it carries no governance powers and is subject to a buyback and burn mechanism, which involves using a percentage of ETH revenue from transaction fees to purchase and remove LINEA tokens from circulation. The total supply of LINEA will stand at 72,009,990,000 tokens, significantly larger than Ethereum’s initial supply.
The distribution of the LINEA token involves several key categories:
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Early Users (10%): This segment will reward early adopters who engaged with the network through campaigns known as Linea Voyage and Linea Surge. Participants must have scored at least 2,000 points in the Voyage campaign and 15,000 points in the Surge campaign to qualify. After eliminating approximately 800,000 sybil wallets, around 750,000 eligible wallets will share the 9.3 billion LINEA tokens allocated for this category.
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Ecosystem Participants (75%): A majority of the tokens, amounting to 75%, will go to active contributors within the Linea ecosystem. The distribution will be overseen by a collective entity referred to as the Linea Consortium, comprised of businesses aligned with Ethereum, such as SharpLink Gaming, ENS Labs, Eigen Labs, and Consensys. This consortium will ensure that rewards are fairly distributed to users, builders, liquidity providers, and other stakeholders vital to the success of both Linea and Ethereum.
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Consensys Treasury (15%): Finally, 15% of the LINEA supply is earmarked for Consensys, the development firm that incubated the network. These tokens will be locked for a period of five years, staving off any immediate distribution.
As this significant date approaches, anticipation within the Ethereum community grows, with many keenly watching to see how the LINEA token will impact the broader ecosystem.
