Linea’s Surge Volt 2 Commences Amidst Robust Network Growth

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:

1. 
   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.
2. 
   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%.
3. 
   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.
4. 
   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.

Image
source:
Shutterstock