Announcing the creation of the Linea Association, a Swiss not for profit, to progress decentralization on its Layer 2 zkEVM solution, Linea, Consensys, which is the developer behind MetaMask, has announced.
On Nov. 13 the Devcon event in Bangkok, Thailand, the association was unveiled.The new association will be focused on promoting open-source, decentralized technology and governance for the Linea ecosystem, according to a Linea blog post.
Linea Association Launches Governance Token for Community Control
One notable aspect is the tokenholder governance these guys are pushing through a native token, LINEA, which is expected to be rolling out some time Q1 2025, where token holders can participate in governance votes.
We have very limited details at this point, but there is going to be a token generation event for ecosystem contributors with more information on the details of the token’s design, utility and economic structure coming afterwards. Over time the LINEA token could start doing more than just governance.
For its token holders the Association will allow them to dictate aspects of the Association , such as intellectual property and a treasury funding the Association mission. It will have a board of directors, a general assembly, an executive team and a governance body for tokenholders.
the Association founder and association board member Nicolas Liochan reinforced the project’s commitment to decentralisation with a view to a future where governance is led by the community. ‘Liochon added: ‘The Association, as a charity, is taking on this burden to ensure the protocol’s future is guided collaboratively and transparently by its community.’
“Building a decentralized global economy is the goal for Consensys, and the formation of a new line is independent is congruent with that aim,” said Consensys CEO Joseph Lubin. “With our initiatives such as the Association, we are setting the groundwork for a collaborative, open world where global participation is secure,” Lubin said.
the Association has facilitated over 230 million transactions in under 4 months since launching in August 2023, making it the fastest growth zkEVM on Ethereum. The project is in Phase 1 of its five step decentralization roadmap.
