Joseph Lubin Hints at Future Rewards for Token Holders
Joseph Lubin, the founder of Consensys and a prominent figure behind the Linea blockchain, hinted at potential future rewards for those who retain their tokens.
In a post on X this Thursday, Lubin indicated that long-term holders could qualify for upcoming distributions, which may include tokens from Consensys as well as other projects within the ecosystem. He emphasized that holding tokens demonstrates a user’s commitment to the Linea community and their involvement in positive activities within the Linea economy.
“If we notice, at some date in the future, that you’ve held n LINEA tokens for m days, that just might lead to another token landing in your account,” Lubin stated, further adding that MetaMask and Linea are collaborating on something.
Community Feedback and Concerns
Lubin’s remarks came after the Linea (LINEA) token generation event (TGE) that took place on Wednesday. The project announced that 85% of LINEA tokens will be directed toward the ecosystem, while 15% will be set aside for the Consensys treasury.
His comments were a direct reply to a community member who raised concerns regarding the utility of the LINEA token. On X, a user tagged Lubin, urging the team to implement staking and lending options.
“Users do not know what to do with the Linea they are holding,” the community member expressed. “Bring Linea lending and or staking platform to make use of Linea.”
Another user reacted to Lubin’s comments by accusing Linea of being a memecoin. This community member characterized Linea as a “memecoin,” claiming it lacks utility but might offer more tokens for users to hold.
Alternative Suggestions from the Community
Meanwhile, other users proposed the idea of implementing token buyback strategies instead of giving holders different tokens as rewards. One user on X suggested that buybacks could be more advantageous if the intent is to encourage users to retain their tokens for a longer period.
More Read
Market Response Post-TGE
While some community members are exploring how to utilize their tokens, others have begun to sell them. Following the Linea TGE, CoinGecko data reveals that Linea tokens peaked at $0.046 before experiencing a significant drop. As of the time of writing, Linea is trading at approximately $0.024, reflecting a decline of over 20% in the last 24 hours, according to CoinGecko.
