Linea, a Layer 2 solution for Ethereum by ConsenSys, revealed the Linea Association during Devcon at Devcon. The non-governmental organization aims to support Linea's growth, sustainable development, and management in Switzerland.
Furthermore, Zero Knowledge Ethereum Virtual Machine (zkEVM) is advancing toward decentralization. It aims to scale Ethereum while maintaining its security and decentralization principles.
The Linea Association will operate as an independent entity separate from ConsenSys. It will house core intellectual property and manage a treasury to support Linea's mission. The association's governance structure includes a board, assembly, Executive Director, and token system. It aims to promote decentralized decision-making by empowering the community.
This is especially significant as Linea progresses towards decentralization by integrating decentralized sequencing and proof mechanisms. The association's focus will also include enabling developers to build decentralized applications distributed through platforms like ConsenSys' MetaMask wallet.
The Linea Association recently announced that a highly anticipated LINEA token will be released in the first quarter of 2025. By holding the token, its holders will be empowered to make some decisions about the protocol.
Information regarding token economics and distribution remains concealed, while the association has mentioned that tokens will be available to ecosystem contributors. The LINEA token will give holders governance rights and is expected to gain further utility as the protocol evolves.
In addition to governance, the association aims to support the decentralized development of Linea's zkEVM mainnet. Since its mainnet launch in August 2023, Linea has grown rapidly, surpassing 230 million total transactions and attracting over 420 partners. The token launch is expected to drive further adoption and community participation as Linea moves closer to its goal of becoming a fully decentralized Ethereum Layer 2 network.