Linea: Everything you need to know about the Ethereum Layer-2 Network AirDrop and token

Ethereum Layer-2 Network Linea wants to use its upcoming Linea token as a stimulus to attract the capital of the world to Ethereum.

Described by supporters as the most Ethereum-Uitgehelde Layer-2 network, Linea offers native yield to ETH strikers, as well as an ecosystem fund consisting of around 54 billion Linea Tokens to attract users to its network.

Linea’s long-awaited tokentameration event (TGE) will be on 10 September. Here is a look at everything you need to know about what the Linea token is and who can claim it.

What is the Linea -token?

Distributed by Swiss non-profit The Linea Association, Linea is the native token of the Ethereum Layer-2 network with the same name. The network was developed by Ethereum Software Development Firm, Consensys and Linea, is described as an “expansion” of the established Layer-1 network. (Disclaimer: Consensys is one of the 22 investors in an editorial independent Decrypt).

Unlike other Layer-2 network docks, Linea will not function as the native guest smoking for the Linea network. Instead, Linea ETH will use as its guests to pay transaction costs. The Linea-Toks also distinguishes itself from other Layer-2 network dials, because it has no management powers and it is subject to a repurchase and fire mechanism.

In other words, with the help of a part of the ETH income it earns from transaction costs, the network will buy linea and then burn it, or effectively remove it from the circulating power supply.

The token will retain a total stock of 72.009,990,000 linea, or 10 times the initial circulating stock Ethereum.

When does Linea fall off?

The Linea Token Generation Event (TGE) takes place on 10 September, after which all eligible AirDrop participants can start the claim process.

Eligible parties have up to 90 days to claim their Linea tokens. After that time, all non -required linea tokens will be added to the ecosystem fund and then distributed by the Linea consortium.

Who gets the Linea AirDrop?

The Linea token will be distributed in three large buckets: early users, participants in ecosystem and the Treasury of Consensys.

10% early adopters

Early users of the Linea network who earned points via the Linea Voyage and Linea Surge campaigns are eligible to claim their respective share of approximately 10% of the Linea offer. To be eligible, campaign participants must have achieved at least 2,000 points in the Voyage campaign and 15,000 points in the Surge campaign.

These criteria and the elimination of round 800,000 Sybil -portfoliosOr those who tried to play the system to earn token left around 750,000 eligible portfolios to split 9.3 billion linea tokens.

Another 1% of the Early Adopters bucket is reserved for strategic builders in the Linea ecosystem, but those tokens will be distributed immediately and will not be claimed as part of the AirDrop.

A AirDrop -Fitiness Control Was released by Linea on 3 September.

75% Linea ecosystem -participants

The majority of the Linea Tokens, 75% of the total offer, will be awarded to active participants within the Linea ecosystem and distributed by a collective body of Ethereum-Uitgevelichte entities that called the Linea consortium.

Consisting of companies such as listed Ethereum Treasury Sharplink Gaming, ENS Labs, Own Labs and Consortium, the consortium is obliged to distribute the ecosystem fund to those who help to propel the Linea Network and Ethereum.

“They are users, they are builders, they are liquidity providers, they are institutions, they are makers … everything or someone who helps to make Ethereum and Linea successful,” head of Linea Declan Fox told Decrypt in July.

Small parts of the 75% have already been approved for distribution by the consortium, including 4% at TGE for liquidity providers during the Linea Surge event. Distribution of another 1 billion linea -tokens was approved as part of Linea InflammationA liquidity boat event that runs up to and including 26 October.

15% Consensys Treasury

The last 15% of the Linea stock is reserved for Consensys, the development company that has incubated the Layer-2 network. All 15% of the tokens reserved for the software company have been locked up for five years.