Summary
Linea, the Ethereum Layer 2 network from Consensys, experienced a surge in on-chain activity during its multi-week promotional campaign, Voyage. Participants in Voyage were rewarded with soulbound “XP” points, driving up activity on the network. Linea’s throughput reached an all-time high of 14.9 transactions per second (TPS) but has since fallen to 5 TPS. The total value locked (TVL) on Linea also peaked at $263.4 million but has since decreased to $176 million. Despite the decline in activity, Linea’s DeFi TVL has consistently increased. Other Layer 2 networks, such as Base and Scroll, have also experienced similar trends of increased activity during promotional campaigns followed by a decline in on-chain activity.
Key Points
1. Linea’s Voyage campaign, which rewarded participants with soulbound “XP” tokens, led to a surge in on-chain activity on the Ethereum Layer 2 network.
2. Despite the initial boost in activity, Linea’s throughput has since decreased, indicating less sticky network adoption.
3. However, Linea’s total value locked (TVL) and DeFi TVL have consistently increased, suggesting sustained growth in the network’s DeFi ecosystem.