Status unveils native 'Gasless' Layer 2 based on Linea

Bloomingbit Newsroom

Summary

  • Status Network announced the launch of a gasless Layer 2 based on Linea.
  • The platform introduces a new economic structure with no transaction fees and returns all profits to the community.
  • Onboarding of native app partners and upcoming DeFi app releases are set to attract investors' attention.

The open-source messaging platform Status Network (Status Network, SNT) has unveiled the world's first native gasless (zero gas fee) Layer 2 built on the Linea stack.

The newly launched Layer 2 by Status completely eliminates transaction fees and introduces a new economic structure run by interest from bridged assets and native app usage revenue. This lowers entry barriers for various Web3 services such as games, social apps, and decentralized finance (DeFi).

Status Network returns all net profits, after operating expenses, generated from the interest on bridged assets and the use of native apps to the community. Returns will be made through liquidity incentives, a community-operated public fund pool, buyback and burn programs to be implemented through governance voting.

Active collaboration is underway with the Ethereum ecosystem. Status is developing a joint bridge revenue feature with Linea, which is expected to be introduced in the future.

Significant progress has also been made from a user experience perspective. Users can access apps without token bridges or gas top-ups, and the service is available even without a wallet balance or transaction history. Initial partners include the mobile RPG Cats Fishing, Spala Labs, and Hash Vegas, with a DeFi app set to be released soon.

Cyprien Grau, a Status lead, explained, "We have designed the incentive structure so that everyone can move toward a single goal. Builders get funding, liquidity providers enjoy returns, and users have access to a truly free chain in a virtuous cycle."

Status Layer 2 was developed with a community-focused design and is currently operating its testnet v1 in a gasless environment. In October, testnet v2 with RLN-based anti-spam functionality and native profit routing is scheduled for release, with the mainnet expected to launch in Q1 2025.

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