Status ($SNT), known for its decentralized communication platform since 2017, has launched the first natively gasless Layer 2 network on testnet. Built on Consensys’ Linea zkEVM rollup, the new Status Network removes transaction fees and introduces a community-focused yield allocation system.
Instead of charging gas fees, Status converts bridged ETH and stablecoins into yield-bearing assets such as stETH and sDAI. This yield, along with fees from native applications, funds builders and liquidity providers. The model aims to attract users and deposits, creating a self-sustaining cycle where higher activity generates more yield for the ecosystem. Pending governance approval, part of this yield may also support $SNT token buy-backs and burns.
cryptonews.net