Margin notes on @LineaBuild's tokenomics ↓ 1️⃣ No utility = No demand. LINEA is not even a governance token. 2️⃣ 22% unlocked at TGE (~15.8B tokens) including airdrops and builder grants — all fully liquid from day one. Remaining emissions are frontloaded (25% of Ecosystem Fund unlocked in 12–18 months) ❗Risk: This setup invites heavy post-TGE sell pressure, especially from airdrop recipients and tactical funds farming the ecosystem. 3️⃣ No investor allocation = positive optics, however: Consensys gets 15% locked for 5 years. Ecosystem allocations could be deployed strategically to insiders or aligned parties under vague conditions ❗Risk: Token distribution may still favor insiders through builder allocations or grant recycling — without public transparency or governance. 4️⃣ Consortium governance = non-transparent control Linea avoids DAO governance in favor of a non-profit US entity Consortium Members include ENS Labs, EigenLabs, etc., but: Voting rules, veto rights, and fund access still unpublished. 5️⃣ Burn model is novel… but weak on buy pressure 20% of L2 gas revenue is burned → reducing ETH supply LINEA is burned using 80% of net revenue BUT: Users pay in ETH → no direct demand for LINEA Distribution = mostly rewards; usage = minimal ❗Risk: Lack of demand sinks for LINEA makes it a pure emission token with slow value capture. 6️⃣ Hyperinflation risk 72B token supply → massive compared to peers Comparison: OP: 4.29B ARB: 10B BASE: no token yet Even with a 10-year emission taper, optics of a hyperinflationary token may suppress long-term valuation ❗Risk: Token price suppression due to psychological and mechanical dilution. ✅ Strengths • ETH-centric gas and fee model = strong alignment with Ethereum • Long lock for Consensys = credibly neutral launch • Massive Ecosystem Fund = potential for aggressive BD and growth