The Linea network, developed by Consensys, has announced new mechanisms for its token launch, including staking and ETH burning.
Announcement of Linea Token Generation Event
The Linea network has announced plans for a token generation event expected later this year. 85% of the total token supply will be allocated to the ecosystem, while the remaining 15% will go to the Consensys treasury under a five-year lockup.
New Staking and Burning Mechanisms
As part of a new staking mechanism set to launch in October, users will be able to earn staking rewards even while bridging ETH to Linea. Furthermore, 20% of all transaction fees will be used to burn ETH, making Linea the first Layer-2 to implement such measures. The remaining 80% will burn LINEA tokens.
Plans to Expand Market Share
Currently, Linea holds only 1.23% of the Layer-2 market, with an on-chain value of approximately $513 million. The focus is on making Linea the best chain for ETH capital to increase market share and attract users and builders.
The new initiatives by Linea highlight its commitment to the Ethereum network and the goal of creating an ecosystem that fosters growth and capital attraction.
