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LINEA Token Set to Launch on Ethereum Layer-2 Network

Linea's tokenomics emphasizes ETH for gas and a dual-burn mechanism, with a total supply of 72 billion LINEA tokens allocated primarily for ecosystem growth.

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Summary

Linea, the Ethereum layer-2 network by ConsenSys, has released its tokenomics framework, detailing a fixed supply of 72 billion LINEA tokens. ETH will be the only gas token, while both ETH and LINEA will be burned from network fees. The allocation includes 85% for ecosystem growth, with 22% circulating at launch. The governance will be managed by the Linea Consortium rather than a DAO, and the protocol aims to align closely with Ethereum's principles.

Terms & Concepts
  • Layer-2 Network: A secondary framework or protocol that is built on top of an existing blockchain (layer-1) to improve scalability and efficiency.
  • Token Generation Event (TGE): An event where a new cryptocurrency token is created and distributed to investors, often associated with a project launch.
  • DeFi (Decentralized Finance): A sector of the cryptocurrency market that aims to recreate traditional financial systems, such as lending and borrowing, using blockchain technology.