Linea announces native ETH earnings and destruction mechanisms before LINEA token launch

According to Foresight News, according to The Block, Linea, the Ethereum Layer2 network founded by Consensys, announced several plans before its LINEA token was officially launched, including introducing native income for bridged Ethereum, launching Ethereum destruction mechanism at the protocol level, designing Ethereum-centric deflation tokens, and establishing an Ethereum ecosystem fund. Among them, the bridged Ethereum native staking function aimed at "building the network into an ETH capital base" is expected to be launched in October, and the staking rewards will be reinvested in the Linea ecosystem.


The Linea team said that about 20% of all Linea net transaction fees paid with ETH will also be destroyed to reduce the supply of ETH and support the accumulation of value on Ethereum - Linea will become the first Layer2 network to commit to destroy ETH at the protocol level. The remaining 80% of the net transaction fees will be used to destroy LINEA tokens to reduce the fixed supply and make the tokens deflate with network activity. In addition, 85% of the token supply will be allocated to the ecosystem, with 10% reserved for early users and 75% gradually distributed through the ecosystem fund. The remaining 15% of LINEA tokens will be locked for five years and owned by the Consensys vault.


The ecosystem fund will be managed by the Linea Alliance, which consists of Ethereum institutions such as Consensys, Eigen Labs, ENS Labs, Status and SharpLink, and more will be added in the future. Although the issuance date of the LINEA token has not been announced yet, it is expected to be launched soon. The upcoming tokens are designed to mimic Ethereum’s original distribution model while being built based on the core utility of ETH.

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.