ConsenSys founder and Ethereum co-founder Joseph Lubin has introduced a new token economy platform on the Linea network. The project aims to develop decentralized prediction markets—such as Polymarket and MYRIAD—and to implement market governance mechanisms that could eventually replace centralized forms of control.
The goal is to replace administrator-led governance with market-based governance
Lubin emphasized that he seeks to turn prediction markets into a foundation for decision-making based on collective intelligence. In his vision, liquid decentralized markets can become a mechanism where prices and probabilities, rather than administrators’ subjective opinions, shape the direction of platforms and projects.
“If we accelerate the global spread of prediction markets like Polymarket and MYRIAD, we can introduce collective intelligence and market forces into governance at all levels of society,” Lubin stated.
The new platform on Linea is intended to become infrastructure for tokenized incentives, uniting participants of the Ethereum ecosystem and other blockchains into a single economic prediction system.
How the concept of market governance works
Prediction markets are platforms where users bet on the outcomes of events, creating price signals about the likelihood of various scenarios. According to Lubin, such mechanisms can be used not only in finance, but also in protocol governance, DAOs, and even companies.
The new initiative on Linea seeks to integrate these mechanisms into blockchain governance, to replace manual voting and centralized boards with a more accurate and dynamic decision-making system.
Analysts note that this continues the Ethereum philosophy: from code as law—to the market as a governance model.
Community reaction and context
The crypto community’s reaction has been mixed. Supporters see the initiative as a step toward true decentralization, while skeptics doubt that market models can replace DAO governance or regulatory oversight.
Nevertheless, Coincu Research experts believe that Lubin’s project could set a new direction for the development of Web3 governance, especially if it achieves high liquidity and global reach.
“Technical challenges are obvious, but historical examples show that it is precisely such steps that pave the way for sustainable decentralized decision-making mechanisms,” the researchers note.
Context: Ethereum and the expansion of the Linea ecosystem
This is not the first time Lubin has advocated shifting power from centers of control to network participants. Even during Ethereum’s early years, he emphasized that transparent markets and decentralized solutions should become an alternative to bureaucracy and opaque structures.
The Linea network, developed by ConsenSys, serves as the technological foundation for realizing this vision. It provides low fees, scalability, and native compatibility with Ethereum, making it an ideal platform for testing tokenized economic models.
Amid market turbulence, the price of ETH remains around $3,880, capitalization exceeds $468 billion, and daily trading volume has decreased by 1.39%, according to CoinMarketCap. Despite the correction, the Ethereum ecosystem continues to be a center of innovation related to governance and tokenization.
What’s next?
Lubin’s initiative could become a turning point for Web3 governance. If the platform succeeds, it will pave the way for the creation of governance markets where decisions are made based on collective bets, not individual choices of developers or funds. This approach could change not only the structure of DAOs, but also the very model of decision-making in the digital economy.
Read more: Bybit supported the cross-chain platform Printr. The startup raised $4.5 million to launch memecoins on all blockchains at once
