Originally published on: November 13, 2024
Consensys takes a significant step towards decentralization by establishing the Linea Association, a new Swiss nonprofit organization dedicated to advancing Linea’s growth and governance. The announcement was made at the prestigious Devcon event in Bangkok, Thailand, on Nov. 13, marking a milestone in Linea’s evolution.
The Linea Association aims to support Linea’s technology, develop its market, and advance its decentralization roadmap. According to Linea product lead Declan Fox, this move signifies a crucial shift towards true decentralization that eliminates excessive control by any governing entity, a vision shared by Consensys founder Joseph Lubin.
Tasked with overseeing the development and governance of Linea’s open-source technology and ecosystem, the Linea Association will focus on scaling Ethereum while maintaining its security and decentralization. One key aspect of its operations will be tokenholder governance, with plans to launch the Linea token in the first quarter of 2025.
The association will provide tokenholders with governance over its activities, managing core Linea intellectual property and a treasury to support its mission. Linea’s product lead, Declan Fox, emphasized the importance of community-driven governance based on tokens, highlighting the ongoing efforts to decentralize both technically and in terms of governance.
Founded by Consensys in 2023, Linea envisions decentralization as integral to its mission, aiming to be owned and governed openly by all as a public good. Nicolas Liochon, Linea founder and Linea Association board member, emphasized the organization’s commitment to empowering Ethereum technologists, builders, and users to live on the blockchain.
Consensys’ Lubin highlighted the Linea Association’s potential in addressing governance challenges faced by layer 2 solutions, emphasizing the importance of avoiding excessive control and monetization. As the association continues to evolve, it holds the promise of shaping the future of Ethereum’s decentralized ecosystem.
With a strong commitment to decentralization and community-driven governance, Linea and the Linea Association are poised to play a key role in advancing the scalability and security of Ethereum while upholding its core principles. Stay tuned for more updates on this exciting development in the world of blockchain technology.
