Linea, the Ethereum-based decentralized exchange (DEX) on the Ethereum blockchain, will launch its native token, REX, on August 6.

PANews reported on August 4th that Etherex, a decentralized exchange jointly launched by Linea, Consensys, and Nile, will launch its native token, REX, on August 6th. Etherex is an upgraded version of Nile Exchange, built on Ramses v3 technology and utilizing the x33 token economic model. Its design goals include allocating 100% of the native incentive (REX) to liquidity providers (LPs); and 100% of transaction fees to xREX voters. The native REX token will be distributed to LPs as liquidity rewards. Users can convert REX into xREX to vote for incentives in their preferred funding pools.

Etherex issuance distribution plan: 25% is allocated to Linea/Consensys (80% of which are xREX tokens and 20% are liquidity REX tokens), 25% is allocated to veNILE migrants (100% are xREX tokens), 15% is used for liquidity pool (LP) treasury support, 5% is used for CEX listing and market makers, 5% is allocated to Linea ecosystem investment partners, and 25% is retained in the Etherex treasury.