“Consensys’ Linea Blockchain Sees 50% Growth in Deposits with DeFi Points Programme”
The surge in crypto deposited in Consensys’ Linea blockchain has been nothing short of remarkable, with a 50% growth over the past month. This growth has been fueled by a points programme designed to attract DeFi users, and it has proven to be a successful strategy.
Since the network’s launch almost one month ago, more than $430 million in crypto has been lured to Linea, making it one of the largest layer 2 blockchains on Ethereum. This is a significant achievement, considering the competitive landscape of the crypto market.
The use of “points” as rewards for users has been a controversial but effective tactic in attracting users to blockchain platforms. Linea’s points programme, named the “surge,” has been particularly successful in driving liquidity to its DeFi ecosystem. Despite some initial complaints, the surge has led to a 138% growth in Linea’s DeFi ecosystem since its launch on May 16.
However, Linea has faced criticism for briefly pausing transactions last week to protect users of Velocore, a decentralized exchange that suffered a $7 million hack. This incident serves as a reminder that many crypto projects are still centrally controlled, despite promises of decentralization.
Overall, Linea’s success in attracting users through its points programme highlights the power of incentives in the crypto space. As the platform continues to grow and evolve, it will be interesting to see how it maintains its user base and navigates the challenges of the ever-changing crypto landscape.
