The Linea Foundation announced a major upgrade ahead of its token launch:
1. ETH Storage:
Starting in October, users will be able to store ETH on the Linea network. All rewards will be reinvested into ecosystem development.
2. ETH Burning Mechanism:
20% of all ETH fees at the protocol level will be burned — this is the first time this has been done among layer two networks. This adds value to Ethereum layer one.
3. Token Burning:
80% of the fees will be used to burn the LINEA token, making it a deflationary token.
4. Distribution and Airdrop:
⊹ 10% of the tokens will go to early users via the airdrop.
⊹ 75% is allocated for ecosystem development and will be distributed gradually.
⊹ 15% will go to the Consensys treasury, locked for 5 years.
5. Fund Governance:
The ecosystem fund will be managed by the Linea Alliance, which includes Consensys, SharpLink, ENS Labs, Eigen Labs, and Status.
$LINEA