Linea Blockchain's Future Rewards Teased Amid Token Utility Concerns

According to Cointelegraph, Joseph Lubin, founder of Consensys and a pivotal figure in the Linea blockchain, hinted at potential future rewards for users who retain their tokens. In a post on X, Lubin suggested that long-term holders might qualify for future distributions, including tokens from Consensys and other ecosystem projects. He emphasized that holding tokens indicates membership in the Linea community and engagement in productive economic activities within the ecosystem. Lubin mentioned that if users hold a certain number of LINEA tokens for a specified duration, it could result in additional tokens being credited to their accounts. He also revealed that MetaMask and Linea are collaborating on a joint initiative. Lubin's comments followed the Linea token generation event (TGE) that occurred on Wednesday. During this event, it was announced that 85% of LINEA tokens would be allocated to the ecosystem, while the remaining 15% would be reserved for the Consensys treasury. The remarks were in response to a community member's concerns about the utility of the LINEA token. On X, a user tagged Lubin, urging the team to introduce staking and lending options, expressing that users are uncertain about how to utilize their Linea holdings. Another community member criticized Linea, labeling it a "memecoin" with no utility, suggesting that it merely provides more tokens for users to hold. In contrast, some users proposed token buybacks as a more effective strategy to encourage long-term holding. An X user suggested that buyback strategies might be more advantageous if the goal is to incentivize users to retain their tokens for extended periods. Meanwhile, following the Linea TGE, CoinGecko data indicated that Linea tokens initially peaked at $0.046 before experiencing a significant drop. At the time of writing, Linea is trading at approximately $0.024, marking a decline of over 20% in the past 24 hours, according to CoinGecko data.