Linea has launched the second phase of its Surge initiative, Volt 2, following the successful completion of Volt 1, said Linea blog. The Surge program has propelled Linea, a zkEVM Layer 2 network, to new heights with more than $1 billion in Total Value Locked (TVL) and adjustments to the LXP-L distribution system, benefiting early adopters.
The Surge Volt 1 growth
The first phase, Volt 1, ended on June 16, 2024 and marked 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, an increase of 52%.
- Active TVL growth: Boosted by $383 million, up 130%.
- Average daily volume: Grown by 66.19% compared to the previous month.
- Peak day volume: Reached $93 million on May 20, 2024.
These impressive numbers underline the success of the Surge program and the growing interest in Linea’s DeFi ecosystem.
Updates you can expect for Volt 2
Volt 2 introduces several major updates aimed at improving user participation and rewards:
- Stablecoin boost: Liquidity Provider (LP) pairs with stablecoins get an extra boost. This adjustment aims to deepen stablecoin liquidity on the network, giving users more LXP-L rewards for their stablecoin holdings.
- 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 additional Volt reducing the total LXP-L generated by an additional 10%.
- Drop in Early Adopter Modifier: The Early Adopter (EA) Modifier boost will be reduced from 1.5x to 1.3x and will continue to provide additional rewards for initial participants, but at a slightly lower rate.
- Veteran points remain active: Veteran Points will continue to provide 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 stopping generating points on the OpenBlock Labs (OBL) dashboard. This issue typically arises when protocols update their infrastructure or data pipelines. While Linea can address these issues with the dapp-specific teams, the solution requires updates from the protocol teams themselves.
Future prospects
The Surge program will deliver a total of six volts or until the network reaches $3 billion in TVL, whichever comes first. As the program progresses, rewards will decrease, making early participation critical to maximizing LXP-L fundraising.
Participants can track their progress and rewards on the OpenBlock Labs dashboard and refer to the official documentation for more information about the Surge program.
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