News Report Technology
November 13, 2024

Linea Unveils Association to Govern Its Technology, Ecosystem, And Network 

In Brief

Linea has established the Linea Association to support the growth and governance of its open-source technology, ecosystem, and the Linea Mainnet.

Linea Unveils Association to Govern Its Technology, Ecosystem, And Network 

Ethereum Layer 2 network Linea has announced the formation of the Linea Association, a Swiss-based independent non-profit organization. This Association is focused on supporting the growth, development, and governance of Linea’s open-source technology and ecosystem, as well as its main instance, Linea Mainnet—a zkEVM Layer-2 network initiated by Consensys to scale Ethereum while maintaining its security and decentralization. 

The Association’s main objectives include supporting the ongoing development of Linea Mainnet powered by Linea Technology and building a network that is fast, affordable, and secure, accessible worldwide to people across economic and social backgrounds. It also aims to fully align with and advance Ethereum Layer 1’s operation and development. Further, it will enhance Linea’s decentralization by developing governance mechanisms and implementing decentralized sequencing and proof processes.

In addition, the Association will help developers create decentralized applications that offer an exceptional user experience and facilitate distribution to millions of users, particularly through MetaMask. Another goal is to foster the growth of engaged communities, with initial projects including Foxy, efrogs, and Linus. Finally, the Association aims to empower users and businesses in managing valuable on-chain data, such as identity and property. Initial applications in this area include on-chain payments with MetaMask Card and identity verification projects with attestation registries like Verax.

Linea Prepares For LINEA Token Launch In Q1 2025

Beyond its recent launch, the Linea Association will serve as a steward for protocol governance, working to ensure the alignment of social and technical goals for the network. A key component of its governance approach will be Tokenholder Governance. To facilitate this, the Linea Association is planning to introduce the LINEA token by the end of Q1 2025.

With this token, holders will have a role in governance decisions. Although specific details on a snapshot date remain forthcoming, Linea has wrapped up its LXP Voyage and is actively focused on cultivating an organically growing community, now totaling over 1.3 million verified addresses that identify Linea as their primary network. LINEA tokens will be allocated to ecosystem contributors through a Token Generation Event (TGE).

Linea, a zkEVM ecosystem, is built to support decentralized Web3 applications (dApps) by bridging them with MetaMask’s Web3 user base. It aims to promote user engagement, technical advancement, and security across the Web3 space. Presently, Linea supports a monthly active user base of over one million, has integrated 300 dApps, and has saved users over $380 million in gas fees, all in pursuit of making Web3 both more secure and widely accessible.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
Sui Blockchain Experiences Downtime: No Blocks Produced For Over An Hour
News Report Technology
Sui Blockchain Experiences Downtime: No Blocks Produced For Over An Hour
November 21, 2024
Starknet Plans Mainnet Upgrade To V0.13.3, Set For November 27
News Report Technology
Starknet Plans Mainnet Upgrade To V0.13.3, Set For November 27
November 21, 2024
CryptoQuant CEO: Bitcoin Bull Market Begins, Mirroring 2020 Cycle
News Report Technology
CryptoQuant CEO: Bitcoin Bull Market Begins, Mirroring 2020 Cycle
November 21, 2024
Side Protocol Unveils SIDE Tokenomics, Allocating 10% For Airdrop 
News Report Technology
Side Protocol Unveils SIDE Tokenomics, Allocating 10% For Airdrop 
November 21, 2024