Lucía Peña
Linea, the Ethereum Layer 2 network developed by Consensys, has kicked off its highly anticipated Token Generation Event (TGE), opening claims for its native asset LINEA. The 90-day claim period began on Wednesday and will run until December 9.
More than 9.36 billion LINEA tokens have been allocated to eligible wallets. Any tokens left unclaimed after the deadline will revert to the Linea Consortium Ecosystem Fund, designed to strengthen both the Linea and Ethereum ecosystems. Eligibility was determined by a July snapshot, and a verification portal went live last week. Importantly, users must claim from the same wallet addresses holding LXP or LXP-L balances.
Ian Wallis, head of business development at Linea, explained that the token is intended to reward early contributors and fund public goods aligned with Ethereum’s growth. He noted that the neutral allocation model could appeal to institutions seeking risk-adjusted yield in DeFi.
Since its launch in July 2023, Linea has operated as a zkEVM rollup fully compatible with Ethereum applications, making it easier for developers and users to integrate seamlessly with existing tools.
A Token Model Without VC or Team Allocations
Linea’s distribution framework sets it apart from many other projects. Roughly 85% of the token supply is dedicated to the ecosystem, with 10% fully unlocked for early users and builders, and 75% earmarked for one of the largest ecosystem funds in crypto.
Unlike typical projects, there are no allocations for the core team or venture capital firms. Governance decisions will instead be managed by aligned institutions within the Linea Consortium, which includes Consensys, Eigen Labs, ENS, SharpLink Gaming, and Status.
Innovative Fee Structure With Dual Burn Mechanism
Linea also introduced what it describes as a first-of-its-kind fee design for Layer 2s. According to the model:
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20% of all ETH transaction fees will be permanently burned.
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80% of network fees will be used to buy and burn LINEA, creating potential deflationary pressure on the token.
The project positions LINEA as “silver to ETH’s gold”, aiming to deliver native yield on bridged assets while sending value back to Ethereum Layer 1 through its dual burn mechanism.
Exchange Listings and Integrations Underway
Linea confirmed that Binance Alpha has integrated support, and OKX’s XLaunch will host DEX trading campaigns where LINEA debuts first. The team also hinted that multiple tier-1 exchanges are preparing to list the token, with additional announcements expected soon.
Short Disruption Before TGE
Earlier on Wednesday, the Linea network briefly halted block production but quickly resolved the issue ahead of the TGE, ensuring the launch proceeded smoothly.
