ConsenSys has announced the creation of the independent non-profit Linea Association in Switzerland. According to the announcement, the new entity will oversee the development of Linea technology, network decentralization, and community support. One of the association’s key short-term goals is the launch of the LINEA token.
What’s Known
The token is scheduled for launch in the first quarter of 2025. A snapshot for token distribution has not yet been conducted, but all campaigns related to LXP have ended, with no plans for new ones.
Initially, the token will be used for DAO voting, but its functionality is expected to expand in the future. Meanwhile, Linea continues to actively foster organic community growth, with more than 1.3 million users with verified addresses already choosing Linea as their primary network.
Goals and Objectives of Linea Association
The new organization will oversee the development of Linea technology, network decentralization, and community support. It will also manage the Linea Mainnet, built on zkEVM technology to scale Ethereum.
Additionally, Linea Association’s objectives include:
- Supporting the development and improvement of Linea Mainnet.
- Accelerating decentralization through governance mechanisms and distributed infrastructure.
- Assisting developers in creating decentralized applications with user-friendly interfaces.
- Strengthening communities such as Foxy, efrogs and Linus.
- Creating tools for users to securely manage their data, including digital identity and on-chain payments.
It’s worth noting that Linea Mainnet, launched in August 2023, has already processed over 230 million transactions, with the number of network partners growing from 150 to 420.
ConsenSys, the initiator of the project, supports Linea’s transition to a fully decentralized governance model. Thus, the token launch and community development may become significant milestones in achieving the goal of creating an open and secure ecosystem for users worldwide.