Scroll, a ZK rollup Layer 2 network, has seen a significant increase of 23% in its Total Value Locked (TVL) over the past seven days, reaching $1.03 billion, according to data from L2Beat. This makes Scroll the 8th Ethereum Layer 2 network to surpass a TVL of $1 billion, with ETH accounting for 87.29% of the total value, stablecoins for 11.11%, and other assets for 1.60%.
Since its launch in October 2023, Scroll has been rolling out new features to attract attention and users. The latest addition, Scroll Canvas, allows users to showcase their achievements, status, and on-chain credentials within the ecosystem. Another initiative called ‘Session One’ incentivizes liquidity by rewarding DeFi users who provide liquidity on decentralized exchanges like Ambient and Nuri, while users can earn Scroll Marks by depositing assets into lending protocols such as Aave.
Despite being one of the top chains in TVL in DeFi, Scroll does not have its own token. However, tokens on Scroll, mostly in wrapped format, have seen an increase in price according to CoinGecko data. Wrapped stETH (WSTETH) is leading in trading volume with a 10% increase in the last week, followed closely by Bridged USD Coin (Scroll) and Bridged Wrapped Ether (Scroll).
Participants are encouraged to bridge their ETH and WSTETH through the native bridge and STONE using LayerZero to Scroll in order to benefit from rewards without any extra transactions or activities required for Session Zero eligibility. This streamlined approach makes it easier for users to access the network’s rewards and incentives, enhancing user experience and engagement.
Ethereum Layer 2 networks as a whole have seen increased activity over the past week, with a 12.04% rise in TVL. Arbitrum One leads the pack with a TVL of $16.85 billion and an 11.91% increase, followed by Base with $6.87 billion (7.53% decrease), OP Mainnet with $6.42 billion (16.55% increase), Blast with $2.67 billion (10.33% increase), and Mantle with $1.24 billion (15.07% increase). This surge in activity indicates growing interest and adoption of Layer 2 solutions within the Ethereum ecosystem.
