PANews reported on September 10th that according to The Block, Linea, the Ethereum Layer 2 network built by Consensys, opened up its native asset LINEA for claiming through a token generation event (TGE) on Wednesday, and opened a 90-day claiming window lasting until December 9th. This TGE included the allocation of more than 9.36 billion LINEA tokens to eligible addresses. Unclaimed tokens will be returned to the Linea Alliance Ecosystem Fund to support the Linea and Ethereum ecosystems. The project took a snapshot of eligibility in July and launched a query portal last week. The project stated that users must use the same address holding the balance of LXP/LXP-L tokens to claim.

The previously announced distribution framework indicates that 85% of the token supply will be allocated to the ecosystem, including a 10% fully unlocked fund for early adopters and developers, and a 75% fund for the ecosystem. This fund is overseen by the Linea Alliance, whose members include Consensys, Eigen Labs, ENS, SharpLink Gaming, and Status. The token will not have any team or venture capital allocations and will not be used for on-chain governance, but rather for strategic direction to be determined by like-minded institutions.