Outside Source
Metamask’s developer Consensys unveiled the Linea Association, a Switzerland-based non-profit dedicated to advancing decentralization for its Layer-2 zkEVM Linea.
Linea, a Layer-2 zero-knowledge Ethereum Virtual Machine rollup developed by Consensys, established the Linea Association at the Devcon event in Bangkok, Thailand, on Nov. 13.
According to Linea’s blogpost, the Linea Association is described as an independent Swiss non-profit organization dedicated to advancing Linea’s open-source decentralized technology and ecosystem governance.
One of the key features spearheaded by the Linea Association is tokenholder governance. Which is why the organization plans to launch the native token, LINEA, by the end of the first quarter of 2025. The LINEA token will be used by holders to take part in governance.
While no specific roadmap has been given, the blogpost indicates that there will be a token generation event to launch LINEA tokens for ecosystem contributors. The Linea Association will provide further details regarding the token’s design, economics and utility, but hinted that LINEA may function as more than just a governance token over time.
The Swiss Association will give token holders the ability to make decisions on certain aspects within the organization, including Linea intellectual property and a treasury to support its mission.
The organization will consist of a board of directors, a general assembly employees working under an executive director and a token governance body.
Founder of Linea and member of the Board of the Linea Association, Nicolas Liochan stated that decentralization is the core of Linea’s vision. Therefore, he believes Linea must be owned and governed openly by a community instead of a centralized base.
“The establishment of the Linea Association ensures that the protocol’s future lies in the hands of its community, empowering users and developers to shape its trajectory collaboratively and transparently,” said Liochon.
He explained that the organization’s core mission is to “empower the world to live on-chain,” which will be supported by an ecosystem of Ethereum(ETH) technologists, builders, and users.
Consensys’ CEO Joseph Lubin emphasized that the formation of Linea’s independent NGO aligns with Consensys’ vision of creating a Network State powered by a decentralized global economy.
“Through initiatives like Linea, we’re building the foundation for an open, collaborative and censorship-resistant world, where individuals and communities globally can participate fully and securely,” said Lubin.
Since its launch in August 2023, Linea has grown into the fastest- growing zkEVM on Ethereum, hosting more than 230 million transactions in less than 15 months. Linea is currently in the first phase of its decentralization roadmap which consists of five phases, from Phase 0 to Phase 4.
This article first appeared at crypto.news
