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Voyage contributors may earn soulbound ‘XP’ tokens for interacting with the community
Exercise on Linea, the Ethereum Layer 2 community from Consensys, is slowing down after explosive progress amid its multi-week promotional marketing campaign, Voyage.
On Dec. 20, Linea tweeted that Voyage had concluded following 10 waves of duties throughout six weeks. Members had been rewarded with soulbound “XP” points, driving a surge in on-chain exercise amid hypothesis the non-transferable tokens may confer eligibility for an airdrop sooner or later.
Voyage kicked off on Nov. 7, with its first wave encouraging customers to bridge property onto the community. On the time, Linea was driving simply 1.6 transactions per second (TPS) on common, in response to L2 beat, down from a report excessive of 4.2 TPS 4 weeks prior — indicating sluggish community adoption.
Linea’s throughput shortly picked up amid the marketing campaign, rallying to an all-time high of 14.9 TPS on Dec. 10 to briefly overtake Ethereum’s 13 TPS. Nevertheless, has since receded, now sitting at 5 TPS after falling 67% from its peak.
Linea’s complete worth locked (TVL) additionally rallied from $78.5M when Voyage commenced to an all-time excessive of $263.4M on Nov. 23. Nevertheless, TVL had retraced right down to $142M only one week later, and is now at $176M.
Nonetheless, the TVL of Linea-based DeFi protocol has persistently elevated since Nov. 11, diverging from the worth of property held on the community. Linea’s DeFi TVL is at a report excessive of $59.5M, up from $26.5M on Nov. 11, in response to DeFi Llama.
L2 throughput and TVL diverge
Linea is the newest Layer 2 to supply incentives for customers who take part in a multi-week marketing campaign exploring the community and its DeFi ecosystem. Whereas these campaigns have been extremely efficient at driving up DeFi and community TVL, on-chain exercise has proved to be much less sticky.
Base, the L2 from Coinbase, launched the OnChain Summer season marketing campaign alongside its mainnet deployment on Aug. 9 after opening its doorways to developers in late July. Throughput rocketed from 5.3 TPS at basic launch to overhaul Ethereum with 15.9 TPS on Aug. 21.
Whereas OnChain Summer season ended as September started, Base’s flagship DeFi dApp Good friend Tech continued to drive exercise amid a SocialFi growth, pushing the community’s throughput to a report excessive of 21.3 TPS on Sept. 14.
Nevertheless, exercise on Base has since dried up, with the community processing simply 2.4 TPS over the previous 24 hours. The decline comes regardless of Base’s community and DeFi TVL each persistently posting new all-time highs all through December, with the community rating third amongst L2s with $715M and its DeFi ecosystem amassing $439M.
Scroll equally rocketed up the L2 rankings in October after launching its Origins NFT campaign, permitting any person who deployed a wise contract on the community from Oct. 10 — one week earlier than its mainnet launch — till Dec. 9.
Scroll posted a throughput excessive of 5 TPS on Nov. 9, rating it because the third-most energetic Layer 2 amid a droop in sector-wide exercise. Nevertheless, Scroll now ranks twelfth with simply 1.2 TPS, regardless of exercise leaping 48% in a single week.
Nonetheless, Scroll has loved sustained TVL progress, with community TVL posting a excessive of $50.4M on Dec. 15 and pulled again by solely 6% since. Scroll’s DeFi ecosystem can be at a report $19.9M.
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