Linea: A 0xScope Overview

0xScope has recently launched support for Linea, a layer-2 scaling solution created by ConsenSys, the Web3 development company that also made the MetaMask crypto wallet.

In this article, the 0xScope team provides an overview of key statistics and important trends related to the Linea ecosystem.

Key Characteristics and Milestones

Linea launched on alpha mainnet on July 19, 2023, in partnership with more than 100 Web3 companies.

During this launch, Linea featured faster throughput and 15 times lower transaction fees compared to the Ethereum mainnet, as well as integration with MetaMask's token bridge, swap, and buy functions thanks to its strong ties with ConsenSys.

Within one month, upon the completion of its public launch, Linea was able to bridge more than $26M worth of $ETH to its platform, while onboarding more than 150 partners.

To support the growth of its ecosystem, Linea launched its six-week campaign called Linea DeFi Voyage in late 2023. By the time Voyage concluded, Linea's TVL climbed from $31.42M during the campaign launch on November 7, 2023, to as much as $60.68M on December 21, 2023.

During the Linea DeFi Voyage event, where 450,000 verified users participated, the platform recorded $425M in total bridged volume and $270M in total volume swapped, as well as 394,000 NFTs minted.

ETH Bridged to Linea

As of today, a total of 336,666.77 $ETH has been bridged into Linea, through the Linea Bridge. Services such as Stargate (powered by LayerZero) and Orbiter, among others, are also used to deposit $ETH to Linea.

Project Data

Among the 18 Linea projects tracked by Scopescan, the top Linea project based on TVL is the decentralized lending protocol Mendi with $11.41M, followed by decentralized exchange (DEX) SyncSwap with $7.89M. In terms of daily active entities, SyncSwap leads with 4,231 daily active entities, while DEX Velocore is in second place with 1,038 entities.

Source: Scopescan. Data as of January 11, 2023.

Linea TVL

As of January 11, 2024, Linea's TVL is at $61.2M, which is the platform's all-time high at the moment, according to DefiLlama.

Source: DefiLlama.

Blockchain Data

Here are some more statistics that highlight recent trends on the Linea network:

1. Top gas spender: The top gas spender is 0x0a88, owned by @tr0cader0 on Twitter. Its recent high gas usage might be related to its minting of Layer2-20 inscriptions.

Meanwhile, the second-biggest gas spender on Linea is 0xe936, also known as LayerZero: Exceutor. Basically, this address sends assets to users after they send their assets to LayerZero on another chain.

2. Top gas consumer: The top gas consumer on Linea is the contract address 0xc5cb of $SOUL token from privacy-preserving platform CARV Protocol. About 46,000 addresses are holding $SOUL at this moment.

Meanwhile, the second-biggest gas consumer on Linea is SyncSwap.

Source: Scopescan

Conclusion

With 0xScope's launch of support for Linea, users can uncover more insights and trends on the activities of this blockchain. For this report, we used Scopescan tools such as Project Explorer, Wallet Explorer, Live Statistics, Whale Watch, and more. We encourage the Web3 community to unearth more findings about Linea projects and activities using 0xScope and Scopescan. You can also share your thoughts on this topic through our links below.

0xScope is adding support for more blockchains in the future. Stay tuned for updates.

‍