Ethereum layer 2 network Linea has taken the final snapshot for its highly anticipated token airdrop. The news came via Linea’s blog and social media channels on July 30, ahead of its Token Generation Event (TGE).
According to the official blog, the total LINEA token supply is set to 72,009,990,000—nearly 72 billion—Out of which 9% of tokens are reserved for airdrop. Although the team has not yet revealed distribution dates, eligibility rules, or exact timelines.Â
Besides the airdrop, Linea shared plans to introduce an ETH-based yield model, ecosystem development fund, and the formation of the Linea Consortium.
Moreover, Declan Fox, Product Lead at Linea has unveiled additional info on the yield bridge, the consortium charter, and how the protocol fits into Ethereum’s future.
Layer 2 Sector Sees Strong Momentum
Meanwhile, recent data from L2Beat shows growing traction for Ethereum Layer 2 solutions. The value tied to scaling protocols has hit $50.55 billion, a 9.72% increase from last year. Rollups are leading the way, outpacing Validiums and Optimiums in the current market.
Additionally, activity levels remain strong. The sector processes 196.11 transactions per second, driven largely by rollups. Consequently, this upward trend supports Linea’s timing as it steps forward with its airdrop and token release.
Also read: eToro to Launch Tokenized Stocks on Ethereum in August
