On July 29, Linea, a layer 2 solution on Ethereum developed by Consensys, officially announced details concerning her token, Linea.
Several key aspects, such as the calendar of the generation of tokens (TGE), remain unconfirmed. The details concerning the air platform and the supply management strategy are not clarified either.
9% of the total line of Linea allocated to Airdrop
According to the official blog and social networks, the total offer of the Linea token is 72,009,990,000 tokens – around 72 billion. It is 1,000 times larger than the supply in initial circulation of ETH. It is a remarkably high figure for a layer 2 token whose tokenomics is revealed for the first time.
In particular, 9% of the Total Linea supply in Tokenomics will be distributed via an air card to the first users. However, the details concerning the eligibility criteria, the distribution calendar and the detailed requirements have not been officially disclosed.
Before the TGE, Linea unveiled several major plans to prepare for the deployment of tokens, in particular: the distribution of tokens through various methods (with Airdrops to the first users as one); Introduce an ETH yield mechanism for the network; and the establishment of an ecosystem development fund.
Although many operational details for these new mechanisms are not yet clear, the simultaneous release of public token and internal economic direction marks a rare level of transparency, in particular compared to many current layers of layer 2 which have not yet disclosed clear token information.
“We will share more details on the design of indigenous yield bridges, the Linea Consortium Charter, and how Linea will play a central role in the future of Ethereum.” Declan Fox, manufacturer on Linea, has shared.
Opportunities and challenges
Given that Linea is developed by Consensys – one of the most famous organizations of the Ethereum ecosystem – the launch of token could draw a significant attention from the web3 community, especially among the first adopters which previously interacts with the Testnet or the bridge on the Linea network. However, there was no official confirmation concerning the specific recipients of the Airdrop.
That said, the total supply of 72 billion Linea is considered massive and has sparked a thorough debate within the community. The fact that it is 1,000 times the initial offer of the ETH raises concerns concerning the structure of inflation, long -term distribution and the dilution of potential value. Without solidly defined distribution strategy locking mechanisms, the post-TGE sales pressure could be a probable scenario.
Linea has already stopped the blockchain. The recent judgment of Linea’s blockchain sparked discussions on its commitment to decentralization as a solution of Ethereum Affan-2 (L2).
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