A few days ago, Linea, a prominent layer-2 blockchain on Ethereum, announced its plans to launch its own cryptocurrency through an airdrop distribution.
The new cryptocurrency, named after the project itself, signifies a significant step towards decentralizing the ecosystem’s governance.
Consensys, a Swiss non-profit organization overseeing Linea’s development, introduced the “Linea Association” during the Devcon event in Bangkok to commemorate the initiative.
The Token Generation Event (TGE) is scheduled for Q1 2025. Is there still time to participate in the airdrop? Let’s delve into the details below.
The layer-2 Linea introduces its governance token with a crypto airdrop for early adopters
Linea, a leading layer-2 zkrollup on Ethereum, has finally unveiled the launch of its native cryptocurrency LINEA, along with an airdrop for the community.
Since its mainnet launch in August 2023, Linea has experienced remarkable growth and is now poised to decentralize its structure significantly.
LINEA will serve as a governance token, engaging individual holders in making collective decisions within the crypto ecosystem.
The cryptocurrency launch underscores the shift of L2 to a public network where users autonomously contribute to its development.
To celebrate this milestone, Consensys inaugurated the Linea Association during the Devcon event in Bangkok to oversee the decentralized protocol’s management and alignment.
Source: Twitter
As mentioned, the LINEA token will be introduced through a crypto airdrop involving early supporters of the chain.
Users, collaborators, developers, and investors will play a central role in the new currency’s distribution plan.
Tokenomics details are yet to be revealed, leaving the distribution percentage for the airdrop undisclosed.
Linea recently celebrated its TVL share returning to $1 billion after a dip during the summer, with over 230 million transactions processed in just 15 months.
Four months until the official launch: the Linea community expresses concerns
The execution of the Linea crypto airdrop is anticipated to coincide with the LINEA token’s TGE towards the end of Q1 2025.
For the next four months, the Linea community may not receive any rewards, leading to frustration among members who have been eagerly awaiting the airdrop.
However, in the 15 months since the mainnet launch, users have engaged in various initiatives without explicit airdrop discussions, anticipating an earlier launch similar to their competitors ZKsync and Scroll.
Now, with the token announcement, the community faces additional wait time, highlighting Linea’s delayed operational approach.
Source: Twitter
Community members express dissatisfaction with the prolonged process and the resources invested in participating in the airdrop, referring to feeling “farmed.”
Given the diluted user base with around 800k active addresses, expectations for rewards may not be met.
Speculation on the airdrop extent and community value remains uncertain, creating mixed sentiments among users.
Some acknowledge that Linea will transition from a meme in the crypto community following the airdrop.
Source: Twitter
Is it still possible to participate in the LINEA crypto airdrop?
While four months remain until the Linea token launch, it may be too late to qualify for the airdrop.
The distribution of LXP points by the project and related incentive campaigns has concluded, with approximately 5.9 million addresses participating in the point collection for the airdrop, receiving a total of 2.6 billion LXP.
The majority of users hold points ranging from 1 to 2000 LXP, with a minority possessing over 4000 points.
While the situation appears saturated, basic interactions like bridging from Ethereum to Linea and DEX exchanges are still viable to show support for the network.
The Linea team emphasizes the importance of users’ “on-chain footprint,” suggesting that even non-LXP accumulators can contribute to the network.
As stated in the Linea Association’s introduction:
“Linea continues to focus on promoting the organic growth of the community, inviting over 1.3 million verified human addresses to call Linea their home network.”
However, the snapshot could occur at any time, potentially excluding latecomers from the airdrop rewards.
Explore other projects to interact with and earn cryptocurrency rewards
Participating in the Linea airdrop at this stage may pose challenges, but the blockchain sector offers numerous opportunities for earning rewards.
While the Linea airdrop may not be accessible, there are plenty of other projects with airdrop initiatives worth exploring.
For example, the Symbiotic restaking platform offers staking opportunities for ETH, providing users with future reward shares.
Source: Twitter
Several potential interactions can be found in projects like Soneium, Redbelly, Anzen Finance, Phantom Wallet, Berachain, Fuel, Orbiter Finance, and SyncSwap.
Moreover, incentivized testnets in emerging blockchain projects present risk-free opportunities for engagement and rewards.
While the Linea airdrop may no longer be an option, the dynamic nature of the blockchain space ensures ongoing opportunities for users to participate and earn rewards.