Ethereum Layer-2 Airdrop Crashes With 9.36B LINEA Tokens — MAGACOIN FINANCE Presale Gains Momentum
The post Ethereum Layer-2 Airdrop Crashes With 9.36B LINEA Tokens — MAGACOIN FINANCE Presale Gains Momentum appeared on BitcoinEthereumNews.com.
The crypto market has once again been shaken by a massive token release. Linea, the Ethereum (ETH -0.09%) Layer-2 network built by Consensys, officially launched its long-awaited airdrop this week, distributing a staggering 9.36 billion LINEA tokens in a token generation event (TGE).The claims window, which opened on Wednesday, runs for 90 days through December 9. Any unclaimed tokens will be sent back to the Linea Consortium Ecosystem Fund, aimed at supporting Ethereum and its broader ecosystem. Amid this, the MAGACOIN FINANCE presale is gaining attention with strong fundamentals and roadmap. Linea Airdrop Sparks Sell-Off Concerns Despite the excitement, the huge airdrop quickly triggered sell pressure across the market. Many investors rushed to offload their newly unlocked LINEA tokens, echoing a familiar pattern in large-scale Ethereum layer-2 airdrop events. The distribution framework allocated 85% of supply to ecosystem growth, with 10% unlocked for early adopters and builders. Notably, there are no team or VC allocations — a move meant to signal fairness. However, the influx of tokens still raised fears of oversupply. Ian Wallis, Linea’s business development lead, told The Block that the token aims to reward contributors and fund Ethereum-aligned public goods. He argued that the “neutral allocation” could attract institutions looking for “risk-adjusted yield in DeFi.” Meanwhile, Linea has also introduced a unique dual burn fee design: 20% of all network transaction fees in ETH will be burned, while the remaining 80% will be used to buy and burn LINEA. This mechanism is meant to create deflationary pressure, positioning LINEA as “silver to ETH’s gold.” Partnerships are rolling in as well, with Binance Alpha and OKX’s XLaunch already on board, alongside promised listings on multiple tier-1 exchanges. Presale Buzz Shifts to MAGACOIN FINANCE But while the LINEA token crash dominated headlines, smart investors have quickly turned their attention…
