Joseph Lubin, the founding father of Consensys and a key determine behind the Linea blockchain, teased potential future rewards for customers who maintain on to their tokens.
In an X put up on Thursday, Lubin mentioned long-term holders may turn out to be eligible for future distributions, together with tokens from Consensys and different aligned ecosystem tasks. He mentioned that holding tokens alerts that the consumer is a Linea neighborhood member and is probably going engaged in productive Linea financial system actions.
“If we discover, at some date sooner or later, that you just’ve held n LINEA tokens for m days, that simply may result in one other token touchdown in your account,” Lubin wrote, including that MetaMask and Linea are getting ready one thing collectively.
Lubin’s feedback observe the Linea (LINEA) token era occasion (TGE) on Wednesday. The challenge mentioned 85% of LINEA tokens will go to the ecosystem, whereas 15% shall be allotted to the Consensys treasury.
Linea neighborhood members carry up token utility
Lubin’s remarks are a direct response to a neighborhood member who introduced up the difficulty of the LINEA token’s utility. On X, a consumer tagged Lubin, urging the crew to allow staking and lending.
“Customers have no idea what to do with the Linea they’re holding,” the neighborhood member wrote. “Carry Linea lending and or staking platform to utilize Linea.”
One other consumer responded to Lubin’s feedback, accusing Linea of being a memecoin. The neighborhood member described Linea as a “memecoin,” saying that it has no utility however will give individuals extra tokens to carry.
In the meantime, different customers floated the thought of token buybacks as an alternative of rewarding holders with completely different tokens. An X consumer prompt that buyback methods could also be extra helpful if they need customers to carry the token longer.
Associated: New Ethereum normal goals to set baseline for real-world asset tokenization
Linea token drops 20% put up airdrop
Whereas some customers try to determine what to do with their tokens, others have already proceeded to promote them off.
After the Linea TGE, CoinGecko knowledge reveals that Linea tokens reached a excessive of $0.046 earlier than seeing a pointy decline. On the time of writing, Linea trades at about $0.024, down over 20% within the final 24 hours, in response to CoinGecko.
Journal: Meet the Ethereum and Polkadot co-founder who wasn’t in Time Journal
