The Ethereum Layer 2 community is outperforming the remainder of the sector, pushed by its ‘Session One’ factors program.
Scroll’s whole worth locked (TVL) is rising quicker than all different Ethereum Layer 2s (L2), pushed by its ongoing factors program.
The community’s TVL has greater than doubled within the final month, surpassing $1 billion from $435 million on June 15. In the identical time interval, Base’s TVL is up 4%, Blast’s is down 42%, and Linea is up 3%, in response to DeFiLlama.
The expansion spurt could also be partially attributed to airdrop farming, as Scroll is likely one of the few main L2s that’s but to launch a local token.
Scroll kicked off its factors program on April 17 by introducing “Marks,” that are factors that customers might earn by bridging belongings onto the chain throughout its preliminary “Session Zero”.
The factors program just lately moved into Session One on June 21, awarding Marks to customers who deposit belongings into sure protocols on Scroll, equivalent to Ambient and Nuri. Within the announcement thread, the group said that “Marks = Worth x Motion x Time.”
Scroll is a zkEVM Layer 2 scaling answer that launched its mainnet in October 2023. The group raised $80 million throughout a number of rounds led by Polychain Capital at a valuation of $1.8 billion.
Whereas airdrop incentives seem like a significant driver of the ecosystem’s progress, Scroll will not be the one Layer 2 with no native token.
Merchants are speculating that Base and Linea may also launch tokens sooner or later, as each have ongoing factors applications.
Linea is distributing LXP factors to customers who contribute TVL to the chain and protocols in its ecosystem. Base has additionally simply begun a program for its “Onchain Summer time” initiative, the place customers can earn factors and badges for minting and accumulating particular NFTs.
Scroll continues to draw customers at the same time as current token launches have underperformed post-airdrop. Blast and ZkSync launched in June, and each tokens are down practically 40% from their opening costs.
Two of the fastest-growing protocols on Scroll throughout this era have been Pencils Protocol and Nuri Change. Pencils is a yield aggregator platform, whereas Nuri is a decentralized trade (DEX).
