On September 10, Binance announced its 37th project on the HODLer Airdrops portal - Linea (Linea), before listing the digital asset on the exchange.
The crypto platform created the HODLer Airdrops portal to reward users retroactively, based on historical snapshots of their BNB holdings.
What is Linea (LINEA)?
Linea is an L2 built to strengthen Ethereum and the whole ETH economy. MetaMask, Aave, 1inch, Chainlink, Circle, Lido, Mastercard, and others are among the project's supporters.
The project promises that it's the best chain for ETH capital, the place "where Ethereum wins." The team behind Linea says that it's driving value back to the Ethereum mainnet in order to make ETH the most important digital asset in the world.
Key Features
The key features of Linea are the following:
- Boosting Ethereum's value via ETH burn at every transaction - 20% of fees are burned, ETH supply is reduced, boosting its scarcity; all this supports a strong economic alignment between Linea and ETH.
- Fueling DeFi yield, via native staking on bridged ETH - Yield will be distributed to liquidity providers, offering the best risk-adjusted return on capital and fueling the Linea DeFi ecosystem.
- Full Ethereum equivalence - Linea claims to be 100% proven zkEVM rollup committed to full ETH equivalence, offering rapid settlement and extremely low fees.
- Enterprise-grade infrastructure for global finance - Linea uses Consensys' experience to support huge names like Mastercard, Visa, JP Morgan, and sovereign banks.
Tokenomics
The total token supply of LINEA is over 72 billion tokens. At TGE, about 22% of the total token supply, representing 15.8 billion LINEA tokens, will be circulating.
The LINEA token allocation will be as follows:
- 75% of the supply will go to the ecosystem growth, public goods, and R&D.
- 85% of the token supply goes to the ecosystem.
- 15% of the total supply goes to Consensys treasury.
- 10% of the token supply will go to early contributors.
There will be no tokenholder governance in the LINEA system. The LINEA token represents a tool for economic alignment with incentives to ensure that both Linea and Ethereum grow stronger together, according to the project's official website.
On September 8, Binance announced it would list LINEA.
LINEA Listing Details on Binance
In an official announcement, Binance revealed that LINEA is its 37th project on HODLer Airdrops portal, and users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products starting on August 25 at 00:00 (UTC) until August 28 at 23:59 (UTC) are eligible to get the airdrop.
Also, the crypto exchange revealed that it will list LINEA on September 10 at 14:00 (UTC), and it will open trading for the following pairs:
- LINEA/USDC
- LINEA/USDT
- LINEA/BNB
- LINEA/TRY
- LINEA/FDUSD
The token will be listed with the Seed Tag applied, signaling potential high volatility. Also, LINEA will be first listed on Binance Alpha, the platform created by the exchange to showcase early-stage projects with growth potential in the Web3 ecosystem.
Users will be able to start depositing LINEA on Binance on September 9 at 14:00 (UTC).
