Linea at Symbiosis - Campaigns and Achievements

One of the things we, at Symbiosis, love the most is the continuous growth of the chains that we integrate and let Symbiotes interact with. Among almost 30 supported blockchains and protocols there are those that truly stand out at Symbiosis. There’s one of them that we are going to review in today’s Growth Review - Linea, an Ethereum Layer 2 network.

Linea takes a certain important place in the Symbiosis ecosystem. We’re going to delve into milestones that Linea achieved at Symbiosis during 2024, the occurring Linea Surge campaign and some recent updates it’s had at our protocol. 

Evolution of Linea Bridge at Symbiosis

First and foremost, let’s get a recap on what Linea is and how it powers Ethereum with its scalable solution. 

What is Linea Network? Everything You Need to Know

Linea is a Layer 2 blockchain network that leverages zero-knowledge (ZK) rollups to advance the performance and chain scalability of Ethereum simultaneously avoiding security or decentralization compromises. Therefore, Linea Network is fully compatible with the EVM (Ethereum Virtual Machine), which makes the blockchain a more powerful platform for developers and users to get the most and best of the DeFi and decentralization. 

What facilitates the growth of Linea as a network and an ecosystem is the simplicity for users and the development capacities.

Low Cost and High Performance

Linea - being a Layer 2 network - utilizes zero knowledge proof concept to process transactions off the chain and bundle them into compressed proofs back to Ethereum. The network provides faster transaction speeds and lower fees compared to the Ethereum main network.

ZK Proofs

For those who are not familiar with this technology: Linea uses ZK-rollups - a variant of cryptographic proof that allows for data to be validated without revealing any underlying information, enhancing user privacy. In simple terms, the network proofs information without telling another component any kind of data. Just like the “Yes, it’s true, I know it for sure” principle.

Broad Range of Ecosystem Applications

Linea’s capacities empower a big variety of Dapps, from DeFi to non-fungible token platforms. With the scalable architecture of the network, the on- and cross-chain solutions can transform and build higher and better.

It was a matter of time, constant development and several trends for Linea to show the growth at Symbiosis. Let’s check the achievements 👇

Linea Growth at Symbiosis - Key Milestones

Symbiosis has been supporting Linea for almost a year now with the Linea Bridge launched in July 2023. Since the initial launch, Linea was often in the spotlight at Symbiosis: starting from the integrations of Linea bridge and swaps into several exchanges to the Educational Campaign that took place last September. 

Linea Bridge is currently active and supports several asset pairs. We made sure to connect the network via seamless cross-chain protocol to enable fast and safe token swaps to and from Linea. It’s available right in the Symbiosis WebApp.

Let’s frankly say that the numbers are impressive! Take a look.

Since the beginning of 2024, Linea Bridge and swaps on Linea were on a steady pace to achieve higher results in the number of processed exchanges. Starting with 4328 cross-chain and on-chain swaps in January 2024, Linea reached a monthly threshold of 11 011 transactions in March. Numbers say that Linea is the “one”. 

Another interesting fact is that the average ratio of swaps’ routes was the following: 74% of the exchanges were cross-chain, meaning that users actively contributed to the total volume of the funds allocated and bridged to and from Linea.

Let’s not forget about the sum of the funds on Linea that were bridges and swapped at Symbiosis.

In January this year the total equivalent of the assets' sum on Linea processed via Symbiosis protocol was around $2.5 million. Therefore, the metric of March rocketed to $9.6 million showing the rising interest in Linea among DeFi users and enthusiasts.

Keep going Linea, we’re here to support sailors in all voyages on the network!

With the upcoming campaigns on Linea hosted by decentralized applications and the Linea team, the numbers may most likely to continue growthing. More on them - right below.   

Linea Ongoing Campaigns

There have been several campaigns hosted on Linea to boost the network growth and performance as well as incentivize the most active adopters. One of the great examples was Linea Voyage - a campaign that consisted of weekly challenges from the selected Dapps to drive the development further on the Linea mainnet network. 

Here is some good news! ICYMI, the blockchain network’s team announced Linea Surge - a long-term campaign to enhance the liquidity and overall vibrancy via allocating funds on the network. The flow of the program is familiar to crypto enthusiasts.

Linea Surge Explained - Is LXP-L Airdrop Happening?

No one likes big texts with fillers, right? Let’s take a look at the most important points that explain and review the Linea Surge campaign with one of the most popular questions regarding the specific token distribution.

Linea Surge Timeframes

• The Linea Surge campaign is expected to start in April this year. It will run for a maximum of six months with the possibility of an earlier drop - depending on the network's Total Value Locked metric. If it reaches $3 billion in the exact volt (an epoch on the network), the campaign is finished. ​Currently, the Linea TVL is $257.13 million (subject to change - we advise to check the data upon request).

How To Participate in Linea Surge?

• Users can participate in the campaign by obtaining and holding specific tokens on Linea. It’s important to connect your wallet once the program starts - so that your on-chain data can be counted.

  
  

• There will be tasks focused on deploying assets and providing liquidity into designated protocols. All of them will be highlighted by Linea in the official communication channels, so stay vigilant to avoid phishing and scams. 

  
  

• You would be able to track your result directly in the Linea Surge dashboard. Check the availability and the official link right here.
  
  

How The Distribution of Linea Surge Rewards is Designed?

• The formula to calculate the amount of distributed tokens include several parts: Decay Function (DF), Ecosystem, Referral and Veteran points. Decay Function parameter will be set as 1 in the start with a decrease at each epoch (a.k.a. Volt).

  
  

• Ecosystem Points will be calculated depending on the ratio of your activity - depending on the type of the decentralized application you interact with and the amount of funds you lock in Linea Network. The full explanation for real geeks is right here. 

  
  

• At the end, users will have the LXP-L tokens distributed to their wallets. The flow of calculation is based on the point allocation. 

It’s important to know that more information on Lina Voyage will be available right before the start of the campaign, and the official links will be posted in Linea Official Docs or right at Linea's Official X/Twitter Account.

TL;DR - Conclusion

Big numbers, new milestones and the interactive campaign with LXP-L token distribution - lots of things that are worthy of Linea community attention. Here’s a short recap of our review: 

• Since the launch of Linea Bridge at Symbiosis, the network displayed and recorded continuous growth;

  
  

• During the first three month of 2024, Linea managed to increase and multiply most important metrics at Symbiosis - resulting in the growth in the number of performed cross-chain and on-chain swaps of assets on Linea as well as the amount of funds exchanged;

  
  

• Linea is projected to continue going steady to a new threshold of $3 billion with a new campaign called Linea Surge. Depending on the level of interaction and liquidity provision, users and Linea veterans will obtain a specific amount of LXP-L tokens.

  
  

There’s more to arrive from Symbiosis in the near future - let’s stay friends and keep in touch:

• Our X/Twitter

• Discord Community

• Telegram Chat

• Documentation