🚀 Crypto Consensys Launches Linea Association to Drive Decentralized Growth of zkEVM Network

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Consensys has announced the launch of Linea Association, an independent Swiss non-profit organization, to drive the growth and development of Linea, a zero-knowledge Ethereum Virtual Machine (zkEVM) Layer-2 rollup.

The association will focus on advancing Linea’s open-source technology and governance, as well as Linea Mainnet. This move represents a step toward decentralizing the Linea network.

According to the official blog post, the Linea Association will serve as the steward for governance within the Linea ecosystem, ensuring both “technical and social alignment.” A key component of the association’s role will be Tokenholder Governance, with plans to launch the LINEA token by the end of Q1 2025, which will enable holders to take part in governance decisions.

While a snapshot for token distribution is yet to be announced, Linea has already attracted more than 1.3 million verified addresses. The distribution of LINEA tokens will occur through a Token Generation Event (TGE), with plans to expand the token’s utility beyond governance in the future.

The Swiss-based association will manage the Linea intellectual property and treasury, supporting the development of the ecosystem and other projects built on Linea technology.

Commenting on the development, Consensys’s CEO Joseph Lubin said,

“As Consensys progresses toward decentralization, Linea represents a foundational step in our vision of creating a Network State for the emerging decentralized global economy, one of many overlapping Network States in which we expect to participate. By decentralizing critical elements of our ecosystem, including governance, infrastructure, and community empowerment, we aim to foster a more resilient and transparent web3.”

The Linea Association will operate under a multi-layered governance structure, which includes a Board of Directors, a General Assembly, employees reporting to an Executive Director, and a Token Governance body. The Association is independent of Consensys.

Linea is a relatively new zkEVM rollup network that was launched last July and hit mainnet a month later. As per the Texas-based firm, the Linea ecosystem has increased its partner network from 150 in August 2023 to over 420 by November 2024.

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