Etherex has soft-launched a decentralized exchange on Linea, the zero-knowledge Ethereum layer-2 backed by Consensys. The platform is pitched as a concentrated-liquidity “metaDEX” that revives the original 2014 EtherEX concept and is intended to become the primary venue for capital bridged to Linea. Built on a new “metaDEX x(3,3)” framework—an evolution of the ve(3,3) model popularised by Curve—Etherex routes 100% of trading fees and incentive emissions to users who lock its governance tokens. Contributors receive only locked tokens, and the project says there are no insider unlocks or early-exit allocations. Linea’s head, Declan Fox, said the structure addresses the “DEX trilemma” by aligning traders, liquidity providers and token holders, positioning Etherex to capture flows expected from the forthcoming Linea token generation event. Etherex co-founder North added that the exchange aims to offer “sticky, sustainable yield” that could attract both retail users and institutions once additional liquidity reaches the network.