Joseph Lubin Hints at Linea Holder Rewards After Token Launch

Joseph Lubin, the founder of Consensys and a key figure behind the Linea blockchain, teased potential future rewards for users who hold on to their tokens.

In an X post on Thursday, Lubin said long-term holders could become eligible for future distributions, including tokens from Consensys and other aligned ecosystem projects. He said that holding tokens signals that the user is a Linea community member and is likely engaged in productive Linea economy activities.

“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 wrote, adding that MetaMask and Linea are preparing something together.

Lubin’s comments follow the Linea (LINEA) token generation event (TGE) on Wednesday. The project said 85% of LINEA tokens will go to the ecosystem, while 15% will be allocated to the Consensys treasury.

Linea community members bring up token utility

Lubin’s remarks are a direct response to a community member who brought up the issue of the LINEA token’s utility. On X, a user tagged Lubin, urging the team to enable staking and lending.

“Users do not know what to do with the Linea they are holding,” the community member wrote. “Bring Linea lending and or staking platform to make use of Linea.”

Another user responded to Lubin’s comments, accusing Linea of being a memecoin. The community member described Linea as a “memecoin,” saying that it has no utility but will give people more tokens to hold.

Meanwhile, other users floated the idea of token buybacks instead of rewarding holders with different tokens. An X user suggested that buyback strategies may be more beneficial if they want users to hold the token longer.

Related: New Ethereum standard aims to set baseline for real-world asset tokenization

Linea token drops 20% post airdrop

While some users are attempting to figure out what to do with their tokens, others have already proceeded to sell them off.

After the Linea TGE, CoinGecko data shows that Linea tokens reached a high of $0.046 before seeing a sharp decline. At the time of writing, Linea trades at about $0.024, down over 20% in the last 24 hours, according to CoinGecko.