Bangkok’s Devcon saw the launch of a new Swiss non-profit, The Linea Association. This marks a step toward decentralizing Linea’s Mainnet, a zkEVM Layer-2, bootstrapped by ConsenSys.
Founded to oversee the growth of Linea’s network, the Linea Association will promote the security, scalability, and decentralization of the mainnet.
According to the organization’s statement , “The core priorities of the Association echo those of Linea today: To empower the world to live onchain.”
The Association aims to support the growth of Linea Mainnet, further decentralize the governance, and build a strong ecosystem that aligns with the operation and evolution of Ethereum Layer 1.
The organization is also focused on helping developers create decentralized applications with high usability, especially through MetaMask integration. Another aspect of focus is stimulating growth and formation of stronger communities built with real people who engage in various projects.
The Linea Association is preparing to launch its native token, LINEA, and the organization will play an integral role in the Token Generation Event (TGE) scheduled for Q1 2025.
The token will allow holders to participate in the governance, allowing users to shape Linea’s future. According to the TGE plan, the tokens will be distributed to ecosystem contributors.
Linea is working towards implementing decentralized governance through various mechanisms that include governance tokens, community initiatives, and decentralized protocol development.
The Association’s governance structure will consist of a Board of Directors, a General Assembly, and an Executive Director, with oversight from a token governance body.
Since its mainnet launch in August 2023, Linea stands among the fastest-growing zkEVM platforms on Ethereum, with over 230 million transactions and a partner network with over 420 organizations.
Linea’s community includes 1.3 million verified users, which gives it the leading position among platforms in the decentralized ecosystem.