Linea's Surge Volt 2 Commences Amidst Robust Network Growth
James Ding Jun 17, 2024 18:40
Linea Surge Volt 2 kicks off with significant updates to LXP-L distribution, following a successful Volt 1 that saw over $1B in TVL.
Linea has launched the second phase of its Surge initiative, Volt 2, following the successful completion of Volt 1, according to Linea blog. The Surge program has propelled Linea, a zkEVM Layer 2 network, to new heights with over $1 billion in Total Value Locked (TVL) and modifications to the LXP-L distribution system, benefiting early adopters.
The Surge Volt 1 Growth
The first phase, Volt 1, concluded on June 16, 2024, marking substantial growth in both TVL and daily trading volume. Since its launch on May 17, 2024, the network has witnessed:
- TVL growth: Increased by $416 million, a 52% rise.
- Active TVL growth: Boosted by $383 million, a 130% increase.
- Average daily volume: Grew by 66.19% compared to the previous month.
- Peak daily volume: Reached $93 million on May 20, 2024.
These impressive metrics underscore the success of the Surge program and the growing interest in Linea’s DeFi ecosystem.
Updates to Expect For Volt 2
Volt 2 introduces several key updates aimed at enhancing user participation and rewards:
- Stablecoin Boost: Liquidity Provider (LP) pairs involving stablecoins will receive an additional boost. This adjustment is designed to deepen stablecoin liquidity on the network, providing users with more LXP-L rewards for their stablecoin positions.
- Decrease in LXP-L: Total LXP-L collected by users will decrease by 10%. This change aims to maximize rewards for early adopters, with each subsequent Volt reducing the total LXP-L generated by another 10%.
- Decrease in Early Adopter Modifier: The Early Adopter (EA) Modifier boost will reduce from 1.5x to 1.3x, continuing to provide extra rewards for initial participants but at a slightly lower rate.
- Veteran Points Remain Active: Veteran Points will continue to offer a small boost to DeFi groups that have contributed to the Surge's success since day one.
Users are encouraged to join the Surge through the referral system and start collecting LXP-L as soon as possible to maximize their rewards.
Challenges and Solutions
During Volt 1, some users reported issues with protocols temporarily ceasing to generate points on the OpenBlock Labs (OBL) dashboard. This problem typically arises when protocols update their infrastructure or data pipelines. While Linea can raise these issues with the dapp-specific teams, the resolution requires updates from the protocol teams themselves.
Future Prospects
The Surge program is set to run for a total of six Volts or until the network reaches $3 billion in TVL, whichever comes first. As the program progresses, the rewards will decrease, making early participation crucial for maximizing LXP-L collection.
Participants can monitor their progress and rewards on the OpenBlock Labs dashboard and refer to the official documentation for more details about the Surge program.
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