Consensys Unveils Token Airdrop Schedule For Linea, Launches Non-Profit Organization

The blockchain software company Consensys has announced that it would release the airdrop for its Ethereum-based layer-2 scaling network, Linea, in the first half of next year.

According to an official release, LINEA (LXP), which will initially serve as only the governance token for the Ethereum Virtual Machine-compatible network, will be distributed to Linea community members by the end of Q1 2025 via a Token Generation Event (TGE).

Linea to Airdrop LXP By Q1 2025

To facilitate the launch of LXP, Consensys has created the Linea Association, a Swiss non-profit organization that will independently foster the Linea network’s growth, development, and governance. Consensys unveiled the organization at the ongoing Devcon, a big Ethereum conference for developers and enthusiasts that is taking place in Bangkok, Thailand.

The Linea Association will run its operations through a multi-layered structure that includes a Board of Directors, general assembly, employees reporting to an executive director, and a token governance body.

Nicolas Liochon, Linea’s founder and member of the association’s board, said:

“Decentralization is at the core of Linea’s vision. 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.”

Fostering Decentralization on Linea

One core priority of the Linea Association is advancing the network’s decentralization through community-led governance mechanisms and decentralized sequencing and proving. In the meantime, the organization will act as the steward for protocol governance as the network works toward implementing a Tokenholder Governance feature.

To ensure the smooth running of the token governance body, the association intends to launch LXP early next year to allow Linea community members and token holders to participate in governance. Although the team behind the project has yet to take a snapshot on-chain, the LXP Voyage, a series of events used to earn Linea tokens, has come to an end.

“By decentralizing critical elements of our ecosystem, including governance, infrastructure, and community empowerment, we aim to foster a more resilient and transparent web3. Through initiatives like Linea, we’re building the foundation for an open, collaborative, and censorship-resistant world, where individuals and communities globally can participate fully and securely,” Consensys’s CEO, Joseph Lubin, said.