Linea Unveils Updated Roadmap and Details for Upcoming Airdrop

The Linea L2 network, developed by ConsenSys, has unveiled an updated roadmap. This project will be the first second-layer solution to implement Ethereum token burns.

Linea aims to burn 20% of transaction fees in ETH, which will reduce the supply of the cryptocurrency and help maintain the value of its main network. The remaining 80% will be allocated to burning LINEA tokens to create deflationary pressure.

This mechanism is designed to strengthen the economic relationship between the second layer and the first layer of Ethereum.

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

«When ETH is transferred to Linea, all funds will be automatically locked in staking, providing liquidity providers with optimal returns at minimal risk,» explained the developers.

The L2 solution team also announced the formation of a consortium that will include Eigen Labs, ENS Labs, Status, and SharpLink. For the next decade, they will manage a fund for the Ethereum ecosystem to support application development and various research initiatives.

In the future, new members will join the consortium. The developers promised to publish a charter outlining the governance of the fund shortly.

According to L2Beat, Linea holds a 1.23% share among all second-layer networks on Ethereum. At the time of writing, the project’s total value locked (TVL) exceeds $515 million.

The exact launch date for the LINEA token is yet to be announced. However, the L2 network team has revealed new details regarding the upcoming airdrop. According to the plan, 85% of the total supply of the coin will be allocated for the ecosystem’s needs.

The remaining 15% will go to the ConsenSys treasury, subject to a five-year lock-up period.

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

It’s worth mentioning that in January, the Linea Association, established by ConsenSys for the development of the eponymous L2 network, excluded 516,960 addresses from the total list of 1.29 million eligible for the airdrop.