Linea confirms snapshot was taken for upcoming token airdrop

Linea, the Ethereum Layer 2 network backed by Consensys, has confirmed that the final snapshot has been taken for its upcoming LINEA token airdrop.

Declan Fox, product director of Linea, shared further details on the tokenomics, including specific allocations and eligibility criteria. According to Fox, 9% of the total LINEA supply will be distributed to users who participated in Linea's user incentive campaign called Voyage and earned LXP points. A blockchain snapshot for eligibility has been taken, he confirmed.

Eligibility will depend on additional criteria such as thresholds and multipliers, which will be disclosed via an eligibility checker before the token generation event. Sybil filtering has already been completed for this distribution.

An additional 1% of the token supply will be reserved for "strategic builders," including Linea-aligned dapps and communities. These allocations will be managed at the discretion of the Linea team, with the option for builders to redistribute tokens to their respective users or communities. Allocations will be based on project plans that demonstrate benefit to the Linea ecosystem.

In total, 85% of the LINEA token supply (72 billion tokens) will be allocated to the ecosystem in the long run, with 75% designated for a long-term ecosystem fund. The fund, which has a 10-year unlock schedule, is set to cover liquidity incentives, grants, partnerships, and other initiatives determined by governance. The remaining 15% of the overall token supply will be held by Consensys, subject to a five-year lockup.

Founded by blockchain developer Consensys, Linea is a Layer 2 network (also called a zkEVM), one that leverages ZK-Rollup for scaling and is compatible with Ethereum apps. It has been operationally live since July 2023. The network aims to establish itself as the hub for ETH capital, aligning its economics and technology fully with Ethereum.

Linea has also unveiled plans to introduce native yield on bridged ETH, a protocol-level ETH burn mechanism, a deflationary Ethereum-centric token design, and the formation of an Ethereum ecosystem fund, ahead of its highly anticipated LINEA token going live.

A consortium of Ethereum-aligned institutions — including Consensys, Eigen Labs, ENS Labs, Status, and SharpLink — will manage the fund for at least 10 years.

Once the token is live, 20% of all Linea transaction fees (paid in ETH) will be burned at the protocol level — a first among Layer 2 networks. The remaining 80% will be used to burn LINEA tokens, making the token deflationary.