Ethereum layer 2 Linea to launch token on Sept. 10

Ethereum layer 2 Linea has announced the launch of its long-awaited token with a community-first model that rejects venture capital allocations.

Linea is preparing to launch its native token on Sept. 10, in what it calls the most significant issuance since Ethereum’s (ETH) own debut. The rollout echoes Ethereum’s genesis allocation, with 85% of the 72 billion LINEA tokens earmarked for ecosystem growth and no allocation to the founding team or venture capital firms.

Linea token model and airdrop

Linea’s distribution centers on community ownership. Around 9% of the supply, or 6.48 billion tokens, will go to more than 780,000 eligible users via airdrop, fully unlocked at launch. Another 1% will be allocated to strategic builders, such as decentralized applications and infrastructure partners.

The remaining 75% is placed in an ecosystem fund managed by the Linea Consortium, which includes ConsenSys, Eigen Labs, ENS Labs, SharpLink, and Status. This fund will be deployed over 10 years to support liquidity, builders, and public goods.

The airdrop eligibility checker opened in early September and will remain live until Dec. 9. Linea says eligibility is based on authentic usage, measured through Linea Experience Points and the LXP-L campaigns, with boosts for sustained onchain activity and MetaMask use.

Building an Ethereum-aligned layer 2

Linea differs from other layer 2 models by separating utility from value capture. ETH will remain the only gas token, while both ETH and LINEA will be burned through transaction fees. 20% of layer 2 ETH revenue will be burned directly, and the rest used to buy and burn LINEA, creating a dual-burn mechanism designed to reinforce ETH’s monetary premium while linking LINEA’s value to real usage.

The project also rejects token-based governance. Instead, strategic decisions will be managed by the Linea Consortium under a nonprofit structure. Linea positions its token not as a voting tool but as an “economic coordination mechanism” for builders, users, and ecosystem contributors.

With more than 230 million transactions processed and $1.21 billion in total value locked, Linea ranks as the seventh largest Ethereum layer 2 by TVL, as per DeFiLlama data. By framing the token around long-term funding and Ethereum alignment rather than short-term speculation, Linea is setting itself apart at a time when many projects lean heavily on incentives and governance theatrics.