Status To Develop Gasless Layer 2 On Linea, Returning 100% Of Net Profits To Community
In Brief
Linea spotlights founding consortium members, starting with Status, which is building a gasless Layer 2 that returns 100% of net yield to the community and supports token utility and open-source innovation.
Ethereum Layer 2 network Linea announced that over the coming weeks it will highlight key contributors and influencers within the Ethereum ecosystem by profiling the founding members of the Linea Consortium. The first profile features Status, a long-time participant in Ethereum development whose mission aligns closely with Linea’s focus on returning value to the mainnet.
Established in 2017, two years after Ethereum’s launch, Status has consistently contributed to the ecosystem, beginning with a decentralized communication platform and wallet, and expanding to projects such as Waku for peer-to-peer encrypted messaging, Codex for decentralized storage, and Nimbus, an Ethereum client. Status has maintained a strong presence in the Ethereum space, emphasizing open-source development, decentralization, and privacy.
Linea and Status formed an early partnership around shared principles of open-source infrastructure, with Status Network becoming one of the first contributors to the Linea codebase. Status Network is now building a Layer 2 leveraging the Linea stack with features aimed at benefiting the wider ecosystem. The Layer 2 will support natively gasless transactions, eliminating fees for activities including ETH transfers, decentralized finance (DeFi) interactions, gaming, and smart contract deployment, thereby lowering barriers to mainstream adoption.
Additionally, Status Network will distribute 100% of net yield back to the community after operational costs, generated through native staking of bridged ETH on Ethereum mainnet, stablecoin yield in collaboration with Aragon, and commissions on native app fees. The community will have governance over how these yields are allocated, whether for public goods, liquidity incentives, or new application development.
The network will also introduce Linea token utility by enabling deposits of LINEA and SNT tokens to earn a yield boost in LINEA, providing a clear use case for the token. New features, such as the gasless module, will be open-sourced for broader adoption, and Status plans to integrate alternative data availability layers like EigenDA to enhance throughput and scalability for the gasless architecture.
Status Network: Driving Ethereum Growth As A Founding Member Of Linea Consortium
As a founding member of the Linea Consortium, Status Network is a key Ethereum-native organization tasked with overseeing 75% of the Linea token supply, which is allocated to ecosystem development, public goods funding, and Ethereum research and development, representing the largest ecosystem fund in Ethereum to date.
Status Network envisions the future of Linea and its associated chains as a more integrated and interoperable ecosystem, focusing on a seamless messaging system for cross-chain interactions rather than relying on traditional bridges. The organization’s shared technical contributions, innovative strategies, and strong alignment with Linea’s goals position Status Network as a vital steward supporting the growth and resilience of Ethereum both within and beyond the consortium.
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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.
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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.
