Scroll TVL Crosses $800 Million After Kicking Off Next Phase of Points Program

‘Session One’ awards liquidity providers on DEXs and lending protocols with Scroll Marks.

By: yyctrader Loading...

depiction of a scroll

Activity on Scroll, an Ethereum Layer 2 network that utilizes zero-knowledge (ZK) technology, is surging after the project launched the next phase of its airdrop points program, dubbed Scroll Sessions, on June 21.

The network's total value locked (TVL) has increased 15% in the past week to $840 million and has more than doubled since the points program began in April. Scroll is now the eighth-largest Layer 2, having recently pulled ahead of Starknet, according to L2beat.

Scroll TVL chart
Scroll TVL

‘Session One’ is aimed at incentivizing liquidity, with points available to DeFi users who provide liquidity on decentralized exchanges like Ambient and Nuri. Since the program went live, their TVLs have increased by 43% and 540%, respectively.

Users can also earn Scroll Marks by depositing assets into lending protocols, including Aave and Rho Markets.

With many hyped projects like Blast, zkSync, and LayerZero launching their tokens in recent weeks, Scroll is likely a beneficiary of airdrop farmers reallocating their assets in pursuit of the next potentially lucrative airdrop.

In March 2023, Scroll raised $50 million in funding at a $1.8 billion valuation.