Linea Voyage Drives Record Activity On Layer 2

Throughput, daily users, and fee volume post new highs on Layer 2

By: Samuel Haig Loading...

Linea Voyage Drives Record Activity On Layer 2

Activity on Linea, the recently launched Layer 2 network from Consensys, is surging amid its Voyage campaign.

Transaction throughput on Linea tagged a new all-time high of nearly 15 transactions per second (TPS) on Dec.10, according to data from L2beat. The network continues to rank as the second-most active L2 over the past 24 hours with 9 TPS, sitting behind ZkSync Era with 11.3 TPS. Linea also ranks third over the past 30 days with 14.4M transactions behind Arbitrum.

The jump in throughput also drove transaction fees on Linea to an all-time high of $0.87 on Dec. 10, more than triple that of rival L2s, according to Growthepie. Average fees on Linea currently sit at $0.62, compared to $0.23 on Arbitrum, and $0.19 on ZkSync Era.

Layer 2 transaction fees. Source: Growthepie.

Linea Voyage

Linea’s impressive performance comes as the network’s DeFi Voyage campaign is close to coming to an end.

Voyage comprises a two-month campaign designed to drive up adoption and liquidity on the network by offering non-transferable Soulbound XP tokens as rewards to users who complete specific tasks — such as engaging with particular DeFi protocols on the network.

Voyage is currently in its seventh of nine waves, encouraging users to trade using decentralized exchanges on the network.

However, with some users participating in Voyage out of the hope their XP could qualify them for a future airdrop, it remains to be seen whether Linea’s high levels of activity can be sustained once Voyage is over.

L2 activity posts new highs

The success of Linea Voyage coupled with upticks in activity on ZkSync Era and Arbitrum have driven several metrics tracking the growth of Ethereum’s Layer 2 ecosystem to new all-time highs.

The daily fees paid by Layer 2 users tagged a record high of more than $1.6M over the past 24 hours, with Linea accounting for 47% of the total. The fee volume incurred by L2s submitting transactions to Ethereum’s Layer 1 mainnet also posted a new record high of $1M today, half of which was paid by Linea.

Daily active users posted a new high of roughly 700,000 on Dec. 11, with 50% of wallets interacting with ZkSync Era. Linea hosted a record 163,000 active wallets over the past 24 hours, with the metric up 108% compared to one week ago. More than 20% of L2 users are active across multiple networks.

Active wallets on L2 networks. Source: Growthepie.

The total value locked on Layer 2 networks also spiked to a new all-time high of $16.2B on Dec. 11, according to L2beat. L2s Combined Layer 2 throughput also tagged 66.5 TPS on Dec. 10, its second-highest level on record.