- Linea Association will steer Linea’s growth, development, and governance.
- LINEA token is set to launch by the end of Q1 2025.
Ethereum zkEVM L2 network Linea, incubated by ConsenSys, has announced the launch of the Linea Association, an independent Swiss non-profit to oversee its development and governance as part of its decentralization roadmap. The organization also revealed plans for the LINEA token launch by the end of Q1 2025.
Nicolas Liochon, Founder of Linea and member of the Board of the Linea Association, stated:
“Linea must be owned and governed openly by all as a public good, just as Layer 1 Ethereum is. The establishment of the Linea Association ensures that the protocol’s future lies in the hands of its community, empowering users and developers to shape its trajectory collaboratively and transparently.”
The Association focuses on advancing Linea Mainnet development, promoting decentralization, and enabling developers to build decentralized apps (dApps), especially via MetaMask. Also, it aims to build engaged communities and help users manage onchain data, including their digital identity and assets.
Advancing Decentralization Via Linea Association and LINEA Token
Notably, the organization will be led and governed by a ‘multi-layered’ structure that includes a board of directors, a general assembly, employees reporting to an Executive Director, and a token governance body. Importantly, it would operate independently from its parent, Consensys.
Joseph Lubin, CEO of Consensys, said:
“As Consensys progresses toward decentralization, Linea represents a foundational step in our vision of creating a Network State for the emerging decentralized global economy, one of many overlapping Network States in which we expect to participate.”
Moreover, Lubin emphasized that decentralizing governance, infrastructure, and community empowerment will foster a ‘resilient and transparent Web3.
The Linea Association, with tokenholder governance as its primary focus, has scheduled the token generation event (TGE) for the LINEA token by the end of Q1 2025. Initially, the token will grant governance rights to holders, with plans to expand its utility later, as per the official blog. It has not yet revealed details on the tokenomics and utility. However, it is expected to share this information before the TGE.
