Ethereum Layer 2 network Linea has announced the formation of the Linea Association, a Swiss-based independent non-profit organization. This Association is focused on supporting the growth, development, and governance of Linea’s open-source technology and ecosystem, as well as its main instance, Linea Mainnet—a zkEVM Layer-2 network initiated by Consensys to scale Ethereum while maintaining its security and decentralization.
The Association’s main objectives include supporting the ongoing development of Linea Mainnet powered by Linea Technology and building a network that is fast, affordable, and secure, accessible worldwide to people across economic and social backgrounds. It also aims to fully align with and advance Ethereum Layer 1’s operation and development. Further, it will enhance Linea’s decentralization by developing governance mechanisms and implementing decentralized sequencing and proof processes.
In addition, the Association will help developers create decentralized applications that offer an exceptional user experience and facilitate distribution to millions of users, particularly through MetaMask. Another goal is to foster the growth of engaged communities, with initial projects including Foxy, efrogs, and Linus. Finally, the Association aims to empower users and businesses in managing valuable on-chain data, such as identity and property. Initial applications in this area include on-chain payments with MetaMask Card and identity verification projects with attestation registries like Verax.
Today we reach a major milestone: Introducing the Linea Association, an independent Swiss non-profit dedicated to advancing our ecosystem’s development and governance. This marks a significant step toward true network decentralization.
For more information, follow @LineaAssn and… https://t.co/Uw58YQwIyQ
— Linea (@LineaBuild) November 13, 2024
Linea Prepares For LINEA Token Launch In Q1 2025
Beyond its recent launch, the Linea Association will serve as a steward for protocol governance, working to ensure the alignment of social and technical goals for the network. A key component of its governance approach will be Tokenholder Governance. To facilitate this, the Linea Association is planning to introduce the LINEA token by the end of Q1 2025.
With this token, holders will have a role in governance decisions. Although specific details on a snapshot date remain forthcoming, Linea has wrapped up its LXP Voyage and is actively focused on cultivating an organically growing community, now totaling over 1.3 million verified addresses that identify Linea as their primary network. LINEA tokens will be allocated to ecosystem contributors through a Token Generation Event (TGE).
Linea, a zkEVM ecosystem, is built to support decentralized Web3 applications (dApps) by bridging them with MetaMask’s Web3 user base. It aims to promote user engagement, technical advancement, and security across the Web3 space. Presently, Linea supports a monthly active user base of over one million, has integrated 300 dApps, and has saved users over $380 million in gas fees, all in pursuit of making Web3 both more secure and widely accessible.
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