Linea: All You Should Understand About the Airdrop and Token of the Ethereum Layer-2 Network

Simply put

• Linea tokens will initiate their airdrop on September 10th.
• Over 9 billion tokens will be accessible to early participants once claims open.
• Eventually, 75% of the total supply will be allocated to ecosystem participants.

Linea, an Ethereum Layer-2 Network, plans to utilize the forthcoming Linea tokens as a means to attract global capital to Ethereum.

Identifying its supporters as the most Ethereum-aligned Layer 2 network, Linea provides native yields for ETH stakers and maintains an ecosystem fund consisting of about 54 billion Linea tokens, which is designed to draw users to its platform.

The much-anticipated Token Generation Event (TGE) for Linea will take place on September 10th. Here’s what you need to know about Linea tokens and eligibility for claiming them.

What is a Linea Token?

Linea, distributed by the Swiss nonprofit The Linea Association, is the native token of the namesake Ethereum Layer-2 network. Developed by Consensys, Linea is regarded as an “extension” of the established Layer-1 network. (Just to note, Consensys is also an investor in the editor’s organization.)

Linea is distinct from other Layer 2 network tokens as it doesn’t serve as a native gas token—ETH is used for transaction fees. This distinction is important, as Linea tokens aren’t governed by any authority and can be subject to repurchase and burning mechanisms.

This means that part of the ETH revenue generated from trading fees will be used by the network to buy and then remove Linea tokens from circulation.

There’s a total supply of 72,009,990,000 Linea tokens, which is substantial—ten times more than the initial supply of Ethereum.

When will the Linea tokens be released?

The TGE for Linea tokens is set for September 10th. This is when eligible participants can start the claim process.

Claiming a Linea token may take eligible users up to 90 days. Any tokens not claimed within this time frame will be added to the Ecosystem Fund for distribution by the Linea Consortium.

Who will receive the Linea Airdrop?

Linea tokens will be allocated through three main channels: early users, ecosystem participants, and the Consensys Ministry of Finance.

10% for Early Participants

Early users of the Linea network, those who accrued points from the Linea Voyage and Linea Surge campaigns, can claim around 10% of the total Linea supply. To qualify, participants need at least 2,000 points from the Voyage campaign and 15,000 from the Surge campaign.

The rules also specify that certain wallets, specifically the 800,000 Civil Wallet, or any that attempted to exploit the system for tokens, won’t qualify. This process results in around 750,000 wallets deemed eligible.

A small portion, 1% of the early adapter pool, is reserved for strategic builders already involved in the Linea ecosystem, distributed directly and not as part of the airdrop.

Additionally, Linea released the AirDrop Qualification Checker on September 3rd.

75% for Linea Ecosystem Participants

The largest share of Linea tokens, comprising 75% of the total supply, will be granted to active contributors in the Linea ecosystem. This distribution is managed by a consortium on Ethereum known as the Linea Consortium.

This consortium includes entities like Sharplink Games, ENS Labs, and Consensys, which are responsible for distributing the Ecosystem Fund to those supporting the Linea Network and Ethereum.

A fraction of this 75% has already been allocated, with 4% set aside for liquidity provider participation during Linea Surge events. Furthermore, 1 billion Linea tokens are earmarked for a liquidity bootstrapping event known as Linear Ignition, taking place until October 26th.

15% for Consensys Ministry of Finance

The final 15% of Linea’s supply is reserved for Consensys, the entity that developed the Layer-2 network. All of these tokens have been locked away for five years.