Original | Odaily Planet Daily (@OdailyChina)
As Ethereum celebrates its 10th anniversary, ConsenSys' Ethereum Layer 2 network Linea officially announced its token economic model last night, attracting widespread attention from the community. Although the TGE originally scheduled for Q1 2025 has been postponed, this announcement is seen as an important signal leading up to the TGE.
Linea is an L2 network built on Ethereum, launched by Ethereum infrastructure giant ConsenSys. Since its mainnet launch in 2023, it has quickly attracted a large number of users through deep integration with MetaMask and ecosystem task incentives. Linea had previously promised to distribute token airdrops to early users through the LXP (Linea Experience Points) system, and now, with the release of the token economic model, this process is gradually entering the fulfillment stage.
Who Pays the Gas Fee? ETH Instead of LINEA
On the Linea network, ETH is the only gas token used to pay transaction fees. LINEA is not a gas token and does not have on-chain governance rights. Currently, the Linea protocol does not have a DAO, and governance is operated by ConsenSys. Additionally, LINEA tokens have not been allocated to any employees or investors.
A portion of the fees collected by L2 will see some ETH and LINEA tokens being burned. The core purpose of the LINEA token is to incentivize ecosystem development. After deducting L1 costs, 20% of the gas fees will be burned, thereby reducing the supply of ETH and enhancing its monetary premium, while the remaining 80% of the gas fees will be used to burn LINEA to enhance its scarcity and value support.
Furthermore, LINEA will be used to fund developers, users, liquidity providers, and Ethereum public goods. This is a token obtained through participation rather than capital, emphasizing the concept of "use equals participation, participation equals distribution."
9% of Total Supply Will Be Airdropped with No Lock-up Period
According to official documents, the total supply of Linea tokens is 72,009,990,000, which is equivalent to 1,000 times the initial circulating supply of ETH. Its distribution method echoes Ethereum's genesis distribution method to indicate its long-term consistency with the broader ecosystem, namely, 85% of the supply is dedicated to the ecosystem, while the remaining 15% is allocated to the ConsenSys treasury. The detailed token distribution ratios are as follows:
- Early Contributors: 10% of the total token supply. Among them, early users will receive 9% of the total token supply, and the airdrop will occur at TGE with no lock-up period. The distribution group consists of users who have obtained LXP. An additional 1% of the total token supply will be reserved for strategic builders in the Linea ecosystem and will be fully unlocked at TGE;
- Ecosystem: 75% of the total token supply. This portion of tokens will be allocated to an ecosystem fund (to be established as a non-profit entity headquartered in the U.S.), managed by the Linea Alliance (a council composed of Ethereum native developers), with members including ENS Labs, Eigen Labs, SharpLink, Status, and ConsenSys;
- Treasury: 15% of the total token supply. This portion of tokens will be locked for five years and cannot be transferred during the lock-up period, but can be deployed within the ecosystem, such as for liquidity or staking funds, to support the health and consistency of the protocol.
Linea Token Economic Model
Additionally, approximately 22% of the token supply (15.8 billion LINEA tokens) will be in circulation at TGE, which includes airdrops for early contributors, ecosystem activation programs, and liquidity supply allocations.
Official Response: Snapshot for Airdrop Portion at TGE Has Been Completed
Declan Fox, the project lead for Linea, responded to user inquiries about the LINEA token economic model on the X platform, stating that the snapshot for the airdrop portion of tokens at TGE has been completed, and all witch attack filters have been previously completed. Furthermore, this airdrop does not involve CEX listings, InfoFi, or other asset dilution, and these funds will not go to the team or investors.
He also mentioned that users who participated in the Linea journey and obtained LXP will receive this 9% reward of airdropped tokens, but there is a minimum threshold requirement for LXP points, the specific criteria of which have not yet been disclosed.
Finally, Declan Fox stated that they are moving forward with the token TGE, but currently, no information has been released regarding token airdrop queries, token claims, etc. Users are advised to be cautious to avoid scams and protect their assets.
Linea Airdrop Simulation: LXP Threshold May Be 1500, Each Point Worth Up to $0.3
According to Linea project ambassador zETHerka.eth (@zETHerka), a record from an AMA Q&A session reported in March this year indicates that addresses with LXP points below 1500 but rich on-chain metrics (transaction volume, wallet age, transaction count) may also be considered. It can be concluded that having LXP above 1500 points may be a standard for the token airdrop.
Based on on-chain data, there are currently about 495,000 addresses with LXP points exceeding 1500, corresponding to a total of approximately 1.496 billion LXP. Considering that some addresses that do not reach 1500 points still have high activity in the ecosystem, they may also be included in the airdrop range. Therefore, we initially assume that over 500,000 addresses will meet the airdrop conditions, totaling about 1.5 billion LXP points.
According to the announced token economic model, Linea plans to allocate 6.48 billion tokens for airdrops and user incentives. Based on this calculation, each LXP point can be exchanged for approximately 4.32 LINEA tokens (6.48 billion ÷ 1.5 billion = 4.32). This exchange ratio does not yet include any subsequent multipliers or weight adjustments and is only a basic estimate.
Additionally, the initial circulating supply of Linea at TGE will be 15.8 billion tokens. Referring to the initial circulating market value of other Ethereum Layer 2 projects during the TGE phase, which generally ranges from $600 million to $1 billion, the reasonable initial price range for LINEA tokens is approximately $0.035 to $0.06. Thus, it can be inferred that each LXP point will correspond to a LINEA token value between $0.15 and $0.3.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
