Launch of the Linea Association

Consensys-incubated Ethereum Layer 2 network Linea announced the launch of the Linea Association at Devcon on Wednesday. This independent Swiss non-profit organization will oversee development and governance, marking a significant step toward decentralization. The association aims to launch the highly-anticipated LINEA token by the end of Q1 2025.

Independent of Consensys, the Linea Association will house core Linea intellectual property and a treasury to support its mission. Governance will be managed through a multi-layered structure consisting of a board of directors, a general assembly, employees reporting to an Executive Director, and a token governance body.

Priorities and Vision

The association’s priorities include supporting the development of the zkEVM Linea mainnet, advancing decentralization through governance mechanisms, and enabling developers to build and distribute decentralized applications, especially via MetaMask, Consensys’ web3 wallet.

Consensys CEO Joseph Lubin stated, “As Consensys progresses toward decentralization, Linea represents a foundational step in our vision of creating a Network State for the emerging decentralized global economy.” By decentralizing key elements, the aim is to foster a more resilient and transparent web3.

Decentralization Roadmap

This launch follows Linea’s proposed decentralization roadmap, which seeks to transition the zkEVM to a permissionless system, including a proof-of-stake model for block validation. Linea founder and Association board member Nicolas Liochon emphasized that “Decentralization is at the core of Linea's vision,” asserting that the protocol must be owned and governed openly by all.

A core feature will be tokenholder governance, with a LINEA token generation event planned, allowing users to participate in network decision-making. Further details regarding token design and distribution are yet to be announced, but plans indicate tokens will be allocated to ecosystem contributors, with additional governance utility in the future.

Since launching its mainnet in August 2023, Linea claims to be the fastest-growing zkEVM on Ethereum, surpassing 230 million total transactions in less than 15 months and expanding its ecosystem from 150 partners to over 420.

Political Landscape and Crypto Industry

The news comes on the heels of Donald Trump’s recent victory in the U.S. presidential election, which has raised hopes for a more favorable regulatory environment for the crypto industry. Trump’s campaign promises included dismissing SEC Chair Gary Gensler, establishing a Crypto Presidential Advisory Council, and “ending the war on crypto regulation.”

MetaMask Token Speculation

Amidst the generally hostile regulatory landscape, the SEC previously sued Consensys, alleging unregistered securities practices related to its MetaMask Swaps service. Speculation persists regarding a potential token launch for MetaMask, as Consensys CEO Joe Lubin had hinted at plans for a token in 2022. No specific details on a possible “MASK” token launch have surfaced yet.