Consensys said that this line of line will be one of the first Ethereum Layer-2 networks that promises to burn ether as part of its network design, as it shares new details of the upcoming events of the token and airdrop generation.
Linea announced new staking mechanisms and burning for the upcoming token launch in an effort to be more aligned with the Layer-1 blockchain, which it hopes to make the “home for the ETH capital,” according to a statement sent to the Cointelegraph.
The move comes in the middle Growing remembrance Those layer-2 networks have become a chain chain activity and income from Ethereum Mainnet.
An event of the Linea Token Generation is set to take place later this year, with 85% of the token supply going to the ecosystem, and the remaining 15% will be allocated to the Consensys Treasury under the five-year locking.
When is the Linea Token Generation event?
Declan Fox, a global product for linea, told Cointelegraph that they did not have the exact date for the event of a token generation and would share a airdrop standard until a week before the event.
A new staking mechanism, which is expected to be launched in October, will give users to earn rewards even if they bridge ether (Eth) in line. It makes ETH productive as it can also be used for Defi activities on the Layer-2 network.
“Linea is the only L2 with the total compatibility of Ethereum, and we want the economy to be aligned and supported by technology,” said Joseph Lubin, founder and CEO of Consensys.
He explained that the yields staking reward were distributed to Line To defi protocol, boost the yield for active liquidity.
“It creates a flywheel for capturing capital through sustainable incentives, where deeper liquidity drives more volume of transactions, therefore attracting many deposits.”
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In addition, 20% of all line transaction fees will be used to burn ETH as the network becomes the first L2 to produce burning in the owner. The remaining 80% burns line token, making them deflationary too.
Developing a market sharing
Linea has just 1.23% of the Layer-2-based market-based market with an onchain value of nearly $ 513 million, According to In L2Beat.
Fox said there were plans to expand it by building the line line “to be the best chain for ETH capital at a time when the momentum behind ETH is very powerful.”
He added that ether’s liquidity providers will find “the best suited return of risk by bridging liquidity in line, thus growing market sharing.”
“This, combined with the ecosystem of the consensiss and distribution of metamask, will further attract users and builders to come and set up a house in the line real estate.”
Ethereum-Aligned Consortium
The Consensys also announced a consortium that aligned with Ethereum to manage Ethereum ecosystem funding. Consortium members, in addition to Consensys, include Eigen Labs, Ens Labs, Status, and Joe Lubin’s Eth Treasury Gaming Firm Sharplink.
“Linea’s promise to Ethereum could not be clearer, and we think the unique alignment of the platform in Ethereum would make it an integral part of its future,” said Joseph Chalom, the newly designated co-Co-Co’s Sharpink.
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