Linea Launches Volt 2: The Next Phase of Surge Program
Linea has rolled out Volt 2, the second phase of its Surge initiative, after the successful completion of Volt 1. This move comes after Linea, a zkEVM Layer 2 network, achieved over $1 billion in Total Value Locked (TVL) and made enhancements to the LXP-L distribution system, bringing benefits to early adopters.
The Growth of Surge Volt 1
Following the conclusion of Volt 1 on June 16, 2024, Linea witnessed significant growth in TVL and daily trading volume since its launch on May 17, 2024. The network experienced:
- TVL hike: A $416 million increase, marking a 52% rise
- Active TVL growth: A boost of $383 million, reflecting a 130% increase
- Average daily volume surge: A growth of 66.19% compared to the prior month
- Peak daily volume: Surged to $93 million on May 20, 2024
These impressive statistics demonstrate the success of the Surge program and the increasing interest in Linea’s DeFi ecosystem.
Exciting Updates in Store for Volt 2
Volt 2 introduces several pivotal updates aimed at improving user engagement and rewards:
- Stablecoin Boost: LP pairs featuring stablecoins will receive an extra boost, enhancing stablecoin liquidity on the network and offering users more LXP-L rewards for their stablecoin holdings
- LXP-L Decrease: Users’ total LXP-L collection will decrease by 10%, maximizing rewards for early participants and reducing the total LXP-L generated with each subsequent Volt
- Early Adopter Modifier Reduction: The Early Adopter (EA) Modifier boost will reduce from 1.5x to 1.3x, maintaining additional rewards for initial contributors at a slightly lower rate
- Veteran Points Continuation: Veteran Points will persist, offering a minor boost to DeFi groups contributing to Surge’s success from the outset
Participants are encouraged to engage in the Surge via the referral system and commence collecting LXP-L promptly to maximize their rewards.
Challenges and Solutions
During Volt 1, some users encountered issues with protocols that temporarily halted the generation of points on the OpenBlock Labs (OBL) dashboard. This problem commonly arises when protocols update their infrastructure or data pipelines, necessitating updates from the protocol teams themselves to resolve.
Promising Future Prospects
The Surge program will run for six Volts or until the network achieves $3 billion in TVL, whichever comes first. Rewards will decrease as the program advances, emphasizing the importance of early participation in maximizing LXP-L accrual.
Participants can track their progress and rewards on the OpenBlock Labs dashboard and refer to the official documentation for more details on the Surge program.
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