Linea confirms airdrop amid waning interest in layer 2 tokens

GM, Tim here.

Linea, crypto titan Consensys’ Ethereum layer 2 network, is finally launching its long-awaited token.

Declan Fox, the Ethereum scaler’s point man at Consensys, confirmed in a Monday X post that his firm will release information about the Linea token at the end of July.

“It will include TGE airdrop allocation,” Fox said, referring to the token genesis event, crypto jargon for launching a token.

In late 2023, a potential Linea token launch was the talk of the crypto community alongside other highly anticipated airdrops.

But, that enthusiasm has dissipated.

“The layer 2 meta is dead,” Stacy Muur, a crypto influencer, said on X. “Linea has finally moved on to announcing its token — two years after the endless farming season.”

“I bet this will be the most hated launch of 2025,” she said.

To Muur’s point, layer 2 token fatigue is real.

Rival networks such as ZKsync, Scroll, and Manta launched their tokens months ago. Many performed poorly, contributing to a lack of appetite for similar tokens.

For example, Scroll’s token is down 72% since its launch in October.

Since Linea started teasing a token in December 2023, they’ve launched what feels like an endless number of campaigns and quests to reward users with points. Points campaigns are a popular way for crypto projects to drum up interest and activity ahead of launching a token.

However, Linea’s point campaigns have been ongoing for so long that the droves of once-eager community members are now exhausted and disengaged.

Daily transactions on Linea are far below their early 2024 peak.

Still, Linea isn’t just another slapdash blockchain.

Its connection to MetaMask creator Consensys and its founder, Joe Lubin, shouldn’t be discounted.

One of Lubin’s pet projects, the rebranded Ethereum treasury firm Sharplink Gaming, is soaring as it gobbles up Ether in a similar fashion to how Michael Saylor’s Strategy buys Bitcoin.

The Linea token is undoubtedly late. But don’t count the project out just yet.