Resume
- Linea’s TVL has grown to over $31 million and is experiencing rapid growth in its user base and on-chain activity.
- Linea is empowering stakeholders by launching the Linea Voyage XP program, a non-transferable SBT that rewards contributions to the ecosystem.
- Linea will unveil the upcoming DeFi Voyage and retroactively award Voyage XP to users and dapps who participated in previous Voyages.
- Linea’s DeFi Voyage is poised to deliver a comprehensive six-week immersion into the world of DeFi, aimed at both web3 beginners and seasoned investors.
In July 2023, Linea unveiled its alpha release for the mainnet, marking a major milestone in its journey. With a robust testnet phase with 5.5 million unique wallets and over 46 million transactions, Linea’s ConsenSys-powered zkEVM rollup has proven itself as a cost-effective Layer 2 network providing scalability to Ethereum.
Linea enables developers to seamlessly create scalable decentralized applications (dapps) or migrate existing ones, all without the complexity of changing code or rewriting smart contracts. After an exclusive launch with Linea’s partners, the alpha release became accessible to the public a week later. Since then, Linea has quickly become one of the fastest growing zkEVMs, greatly enriching the Ethereum user experience. This article explores key metrics and developments within the growing Linea ecosystem.
Linea Onchain Stats
The Linea network is rapidly growing in prominence and boasts impressive statistics. A Dune analytics dashboard shows that Total Value Bridged has risen to 104,219 ETH (equivalent to over $188 million), after also recording more than 13.59 million transactions, according to data sourced from Lineascan.
Total value locked (TVL)
Linea Total value locked (TVL). Source: DeFiLlama
Linea proudly boasts consistent and impressive growth in its Total Value Locked (TVL), which now stands at an impressive $31.45 million, according to DeFiLlama data.
Daily active addresses
Diagram Daily active addresses. Source: Artemis
Artemis data shows that the network experienced a notable increase in daily user activity on October 9, 2023. The number of unique wallet addresses that transacted in one day peaked at 78.54,000, indicating a growing and active user base.
Daily transactions
Daily transaction chart. Source: Artemis
On the same day, Linea recorded a significant number of daily transactions, with a total of 373.93k transactions taking place on the network. These statistics underline the growing popularity of the network and its robust performance in the chain.
Linea ecosystem updates
To ensure progress towards decentralization, Linea is taking active steps by empowering stakeholders through the launch of the Linea Voyage XP program, a non-transferable Soulbound Token (SBT). Linea Voyage XP evaluates the contribution of users and decentralized applications (dapps) participating in Voyage activations and community development, strengthening the ecosystem.
In addition to the Voyage XP, Linea will unveil the upcoming DeFi Voyage and retroactively award Voyage XP to users and dapps who participated in the previous two Voyages. The retroactive issuance of XPs will be substantiated with cryptographic evidence such as the Whitelist, Voyage NFT, Linea Gas Passes or Discord scrolls obtained during these activations. These initiatives are an example of Linea’s commitment to the path of decentralization.
A look at Linea travel
Testnet journey
Linea started its journey with the inauguration of its Testnet Voyage in May. The innovative endeavor offered users a unique opportunity to delve into the limitless potential of an L2 network. Linea used this trip to rigorously test the network under the weight of the extensive transaction volumes across various activities. By the time the mainnet was ready for the alpha release, a whopping 500,000 users had collectively completed 50 million transactions working with 50 dapp partners over a nine-week period. The continued support of Linea’s dedicated early community played an indispensable role in sharpening the network for this important milestone, and as a token of gratitude for their contributions, Linea distributed a series of layered Linea Voyage NFTs.
Entertainment festival
In September, Linea shifted its focus to catalyzing the gaming ecosystem with the opening of the Entertainment Festival. This extravaganza introduced more than 40 gaming dapps to users, opening doors for exciting gaming opportunities on L2s. Over the course of this six-week festival, more than 100,000 users completed nearly 5 million quests and created nearly 15,000 game scene designs. In recognition of their contributions to the festival and the growth of Linea’s gaming ecosystem, top gamers were rewarded with Linea Gas Passes and impressive gamer technology.
DeFi journey
The spotlight now turns to DeFi as Linea prepares for its next venture. Unlike the previous voyages, this DeFi Voyage has been carefully designed to be less labor intensive than the Testnet Voyage, with a more streamlined and organized structure than the Entertainment Festival. This strategic approach reflects Linea’s commitment to responding to the valuable feedback from its community and applying the lessons learned from past journeys to ensure a successful DeFi Voyage.
Linea’s DeFi Voyage, a partnership with Intract and MetaMask Learn, is poised to deliver a comprehensive six-week immersion into the world of DeFi, aimed at both web3 beginners and seasoned investors. The countdown to the DeFi Voyage has begun and more details about the journey and initial task are coming.
Final thoughts…
With a rapidly growing user base and impressive on-chain metrics, Linea is making remarkable progress in the blockchain ecosystem, solidifying its position as a leading zkEVM rollup network. Linea’s popularity is increasing. Furthermore, Linea’s commitment to decentralization is evident in initiatives such as the Voyage XP program, designed to empower and reward users and dapps that contribute to the ecosystem. As Linea gears up for its DeFi Voyage, the future looks promising and users are eagerly awaiting the further evolution of the promising Layer 2 network.