Ethereum News Today: Ethereum’s Next Big Bet: LINEA Airdrops $9.36B to 749K Wallets

MEXC has launched its LINEA Launchpad, offering new users a 50% discount and a prize pool totaling 6,800,000 LINEA and 10,000 USDT. The initiative aims to encourage broader participation and engagement with the LINEA ecosystem, particularly as the token’s official launch nears. This move aligns with the growing interest in Ethereum-based layer-2 solutions, especially with LINEA being developed by Consensys and supported by a consortium of Ethereum-native organizations. The airdrop and discounted access through MEXC are expected to attract both retail and institutional users to the platform.

The LINEA token is set to launch on September 10, with an initial supply of 9.36 billion tokens distributed to 749,662 eligible wallets. Unlike many other token distribution models, LINEA’s allocation is entirely community and ecosystem-focused, with no shares reserved for venture capital firms or the founding team. A significant 85% of the token supply is dedicated to growth and development initiatives, including a 4% allocation to liquidity providers. The airdrop criteria are activity-based, rewarding early engagement and sustained on-chain participation, as measured by LXP and LXP-L scores. Users are also eligible for up to three boosts that can increase their token rewards by up to 30%.

The governance model of the LINEA token is distinct in that it does not rely on token holder voting. Instead, strategic decisions are managed by the Linea Consortium, which includes key Ethereum-native entities such as Consensys, Eigen Labs, ENS Domains, SharpLink, and Status. This structure aims to ensure long-term mission alignment and reduce the risks of governance attacks or plutocratic influence. The consortium’s oversight is intended to foster sustainable development without the pressures typically associated with venture capital or team token dumps, which have historically affected new crypto project launches.

Network activity has already shown a significant increase in the lead-up to the token’s official launch. DeFi total value locked (TVL) on the Linea network surpassed $1.07 billion within 24 hours, marking a 24% surge. The stablecoin market capitalization reached $205 million, with USDC accounting for nearly 74% of the supply. Daily decentralized exchange (DEX) volume hit $193 million, and perpetuals trading reached $27 million. These figures underscore the growing interest and usage of the Linea network, particularly as it positions itself as a complementary layer to Ethereum rather than a competing protocol.

The LINEA token’s economic model is designed to reinforce Ethereum’s value proposition through mechanisms such as dual token burns and native yield incentives. By tying transaction fees to the destruction of both LINEA and Ethereum tokens, the network aims to create a value feedback loop that benefits the Ethereum mainnet. The launch of the token on MEXC, alongside pre-market trading on Binance Futures—where LINEA dropped 34% from its opening price—has generated both enthusiasm and caution among traders. With a large token supply and no inflationary rewards, the project emphasizes sustainability over speculative growth, which could influence long-term adoption and usage patterns.

The LINEA token’s claim period, which runs from September 10 through December 9, allows eligible participants to claim their airdropped tokens. Those who fail to claim within this window will have their unclaimed tokens returned to the ecosystem fund. Eligibility for the airdrop is determined by on-chain activity, liquidity provision, and early engagement with the Linea network. The “Ignition” program is also set to distribute 1 billion LINEA tokens to liquidity providers on decentralized platforms such as Etherex, Aave, and Euler, further reinforcing the network’s commitment to ecosystem growth and community incentives.

Source: [1] Linea Network Launches 72B Token Supply for Ethereum Scaling (https://coinmarketcap.com/academy/article/linea-network-launches-72b-token-supply-for-ethereum-scaling) [2] Ethereum's Biggest Airdrop Since ETH: 9.36B LINEA Tokens Set to Hit 749K Wallets (https://www.cryptoninjas.net/news/ethereums-biggest-airdrop-since-eth-9-36b-linea-tokens-set-to-hit-749k-wallets)