Ethereum

Token

Generation

Linea

<div class="intro-text">
 Consensys’s Layer 2 network, Linea, has <a href="https://linea.mirror.xyz/0sExLyJh33ktk6x2kg3l2z0xDVUDt3ilJzsA_Kx0sp0" rel="noopener noreferrer nofollow">announced </a>the creation of the Linea Association, an independent Swiss non-profit, to foster the network’s growth, development, and decentralized governance.
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According to the project’s press release, this move marks a significant step towards decentralizing the zero-knowledge Ethereum Virtual Machine (zkEVM) rollup project and its vision of empowering users and developers to shape its future collaboratively.&nbsp;&nbsp;
The Linea Association is expected to oversee the development of a fast, secure, affordable Linea Mainnet compatible with Ethereum Layer 1.
“Decentralisation is at the core of Linea’s vision,” said Nicolas Liochon, founder of Linea and member of the Linea Association Board. “This association ensures that Linea’s future lies in the hands of the community, allowing them to govern the protocol openly, as with Ethereum Layer 1.”
In line with this vision, the Linea Association plans to launch the LINEA token by Q1 2025, which will allow token holders to participate in governance. Initially, the token’s focus will be on governance, with expanded utility features to follow. A Token Generation Event (TGE) will distribute LINEA tokens to ecosystem contributors, with further details on token design, economics, and utility to be provided ahead of the TGE.
Consensys remains a key contributor to Linea’s development, and it is committed to decentralizing the network’s governance. Its CEO, Joseph Lubin, stated:
<blockquote>
 “By decentralizing critical elements of our ecosystem, we aim to create a more resilient and transparent Web3, fostering a secure, open, and censorship-resistant world.”
</blockquote>
Meanwhile, in September, Marco Monaco, ConsenSys’ growth lead for the Linea zk-rollup project,<a href="https://defi-planet.com/2024/09/lineas-growth-lead-marco-monaco-resigns-says-visions-are-not-aligned-anymore/" rel="noopener noreferrer nofollow"> announced</a> his resignation on X after a two-year tenure. Monaco, who had been less involved in recent months, explained that his vision no longer aligned with Linea’s future direction, though specifics were not disclosed.
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The post <a href="https://defi-planet.com/2024/11/linea-network-establishes-independent-non-profit-to-oversee-development-decentralized-governance/" rel="noopener noreferrer nofollow">Linea Network Establishes Independent Non-Profit to Oversee Development &amp; Decentralized Governance</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Linea Network Establishes Independent Non-Profit to Oversee Development & Decentralized Governance

DeFi Planet

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