The Linea network, owned by Consensys and based on Ethereum Layer 2, experienced a slowdown in its activity after the conclusion of its multi-week promotional campaign called Voyage.
The campaign, consisting of ten waves of tasks over six weeks, caught the attention of participants who were rewarded with “XP” points tied to the soul. This incentive generated a significant increase in on-chain activity, as there was speculation that these non-transferable tokens could confer eligibility for future airdrops.
Highs and Lows in Linea’s Activity
Voyage, which began on November 7, initially encouraged users to transfer assets to the Linea network. At that time, Linea was averaging only 1.6 transactions per second (TPS), indicating slow adoption of the network. However, activity surged during the campaign, reaching a peak of 14.9 TPS on December 10, briefly surpassing Ethereum’s 13 TPS. Subsequently, activity gradually decreased, settling at 5 TPS and experiencing a 67% drop from its peak.
The Total Value Locked (TVL) also experienced fluctuations during the Voyage period, rising from $78.5 million at the start of the campaign to a peak of $263.4 million on November 23. However, a week later, it retraced to $142 million and currently stands at $176 million. Despite these variations, the TVL of Linea-based DeFi protocols maintained an upward trend, reaching a record $59.5 million.
Comparatively, this dynamic of increase followed by a decline in on-chain activity is not exclusive to Linea. Other examples, such as Coinbase’s Base and Scroll, also experienced a temporary increase in activity during similar campaigns but later faced a decline in on-chain transactions, despite sustained growth in TVL and the DeFi ecosystem.
These patterns suggest that while promotional campaigns can temporarily boost activity and TVL on Layer 2 networks, the persistence of on-chain activity remains a challenge. The community continues to closely monitor Linea’s evolution and explore how to address the fluctuating activity trends following the conclusion of Voyage.
