Scroll TVL Exceeds $1B

(MENAFN- eTrendy Stock) Scroll's total value locked (TVL) has experienced rapid growth, outpacing all other Ethereum Layer 2 (L2) solutions. The network's TVL more than doubled in the past month, rising from $435 million on June 15 to over $1 billion, according to DeFiLlama. In contrast, Base's TVL increased by 4%, Blast's TVL decreased by 42%, and Linea's TVL rose by 3%.

Airdrop Farming and Points Program

The growth in Scroll's TVL is partly attributed to airdrop farming, as Scroll has yet to launch a native token. Scroll initiated its points program on April 17 with“Marks,” points earned by users who bridged assets onto the chain during its initial“Session Zero.” The points program progressed to Session One on June 21, awarding Marks to users who deposit assets into specific protocols on Scroll, such as Ambient and Nuri.

Speculation on Future Token Launches

Scroll, a zkEVM Layer 2 scaling solution, launched its mainnet in October 2023. The team raised $80 million across multiple rounds led by Polychain Capital, reaching a valuation of $1.8 billion. Other Layer 2 networks, like Base and Linea, also have ongoing points programs, with traders speculating on potential future token launches.

Linea distributes LXP points to users who contribute TVL to its ecosystem. At the same time, Base has started an“Onchain Summer” initiative, where users earn points and badges for minting and collecting specific NFTs. Despite Scroll's growth, recent token launches for other networks like Blast and ZkSync, which launched in June, have seen their tokens drop nearly 40% from their opening prices.

Leading Protocols on Scroll

Two of Scroll's fastest-growing protocols during this period have been Pencils Protocol, a yield aggregator platform, and Nuri Exchange, a decentralized exchange (DEX). These protocols have contributed to the significant increase in Scroll's TVL as the network continues to attract users through its points program.

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