Everything you need to know about Ethereum Layer-2 Network Airdrops and Tokens

Ethereum Layer-2 Network Linea aims to use upcoming Linea tokens as an incentive to draw the world’s capital into Ethereum.

Describing its supporters as the most Ethereum-aligned Layer 2 network, Linea offers native yields to ETH stakers and an ecosystem fund made up of around 54 billion Linea tokens, attracting users to the network.

Linea’s long-awaited Token Generation Event (TGE) will arrive on September 10th. Let’s take a look at everything you need to know about what a Linea token is and who can claim it.

What is a Linear Token?

Distributed by the Swiss nonprofit The Linea Association, Linea is a native token of the Ethereum Layer-2 network of the same name. This network was developed by Ethereum Software Development Firm, Consensys, and Linea is described as an “extension” of the established Layer-1 network. (Disclaimer: Consensey is one of the 22 investors of the editor. Decryption).

Unlike other Layer 2 network tokens, Linea does not function as a native gas token for Linea networks. Instead, Linea uses ETH as a gas token to pay the transaction fee. Linea tokens distinguish them from other Layer-2 network tokens as they are not governed by authority and are subject to repurchase and burning mechanisms.

In other words, using a portion of the ETH revenue you earn from trading fees, the network will buy Linea and then burn it or effectively remove it from the circular supply.

The token maintains a total supply of 72,009,990,000 linea, or 10 times the initial circulation supply of Ethereum.

When will Linea fall?

The Linea Token Generation Event (TGE) will be held on September 10th. At that point, eligible airdrop participants can begin the billing process.

Eligible parties will take up to 90 days to claim a Linear Token. Unclaimed Linea tokens will then be added to the Ecosystem Fund and then distributed by the Linea Consortium.

Who will get Linea Airdrop?

Linea tokens are distributed to three main buckets: early users, ecosystem participants and Consensy Ministry of Finance.

10% early recruits

Early users of Linea’s network who earned points via the Linea Voyage and Linea Surge campaign are eligible to charge each share of about 10% of the Linea supply. To qualify, campaign participants must have achieved at least 2,000 points in the voyage campaign and 15,000 points in the surge campaign.

This standard and the exclusion of surroundings 800,000 Civil Walletor anyone who tried to game the system to win tokens split the 9.3 billion linea tokens, leaving around 750,000 eligible wallets.

An additional 1% of the early adapter buckets are reserved for strategic builders in the Linea ecosystem, but these tokens are directly distributed and not billed as part of the airdrop.

an AirDrop Qualification Checker It was released by Linea on September 3rd.

75% Linea Ecosystem Participants

The largest chunks of Linea tokens, which are 75% of the total supply, are awarded to active participants within the Linea ecosystem and distributed by a collection of entities located in Ethereum, known as the Linea Consortium.

The published consortium consisting of companies such as the Ethereum Treasury’s Sharplink Games, ENS Labs, Eigen Labs and Consensys is mandatory to distribute the Ecosystem Fund to those who help promote Linea Network and Ethereum.

“It is a user, a builder, a liquidity provider, an institution, a creator. Declan Fox said Decryption July.

A small portion of 75% have already been approved for distribution by consortiums, including 4% in liquidity provider TGE during linea surge events. A further distribution of 1 billion linea tokens has been approved Linear Ignitiona liquidity bootstrap event running until October 26th.

15% Consensy Ministry of Finance

The last 15% of Linea supply is reserved for Consensy, the developer that incubated the Layer 2 network. All 15% of tokens reserved for software companies have been locked for five years.