From ournetwork xyz
Base | Arbitrum | Worldchain | ZKSync | Polygon
👥 growthepie | Dashboard
📈 Layer 2 Weekly Active Addresses Surpass 10M, Over 5x Ethereum L1
- Layer 2s (L2s) have experienced rapid growth in active addresses increasing by over 300% in a year and surpassing 10M weekly. Active wallets on multiple L2s however remains low at less than 5%. This indicates both user preference and potential challenges with interoperability which are being worked on.
- Stablecoins on L2s have also risen rapidly reaching a high of ~$12.4B, contributing ~20% to Layer 2's total value locked (TVL). Stablecoins, often used in DeFi, equate to ~9% of token transfers on Layer 2s. This could indicate users prefer to transfer value with non-stablecoins, but airdrop farmers could be distorting this data.
- Despite recent increases in costs for Ethereum data availability (Blobs) L2 onchain profit has begun to rise once again. This is despite significant decrease in revenue per transaction — the increase in transaction volume alongside costs saved in using blobs over calldata resulted in ~$178M profit for the year.
- Gaming is an emerging sector in the L2 space with some blockchains opting to focus exclusively in the sector. Looking at L2 gaming contracts, "World of Dypians" has several of the top contracts for active addresses in the past 7 days. Yet when looking at gaming contracts for gas fees and transaction count it is notable that "World of Dypians" is lower down in the rankings. The disparity serves as a reminder that gaming mechanics and incentives can influence user and farmer behavior — analyzing multiple metrics is always preferable.
L2 Economics & Profitability 💸
👥 sealaunch | Dashboard
📈 L2 Monthly Profits Quadruple Since September, December Hits Multi-Month High
- L2 profitability has seen strong growth, with monthly profits increasing 4x since September 2024. The introduction of Blobs in March 2024 initially led to a decline in L2 onchain profits. However, the trend has reversed. Base captured 74% of the market share in L2s onchain profits, followed by Arbitrum (14.5%) and OP Mainnet (4.7%). L2s generated more than $170M in profits throughout 2024. It is expected that as demand for Blobs increases, rising costs can lead to a decline in profits.
- Base recorded $13M in onchain profits in December, making it the second-highest month since March 2024, when it reached $16M. During 2024, Base generated $80M in onchain profits. In December, Base achieved a 87% onchain profit margin.
- Arbitrum generated $2.5M in onchain profits in December 2024, its second most profitable month since launch. June remained the network's highest-earning month of 2024, with $4M in profits. The network recorded a 70% onchain profit margin in December.
Worldchain 🌎
👥 peter | Website | Dashboard
📈 Worldchain Activity Hits All-Time High with 14.4M and 3.3M Wallets Active During the Last 30 and 7 days respectively
- World Chain is an L2 designed for individual humans as opposed to blockchain addresses. World App is the key app built on top of World Chain which uses Safes —non-custodial and smart accounts with multi-sig and account abstraction— to safely store a "World ID", exchange digital assets, and access apps. World Chain's active wallets and transactions have been picking up with 14.4M and 3.3M active wallets the last 30 and 7 days respectively – that's a ~20% increase compared to a week ago.
- World Chain's wallets stand out, with 90% being Safes—smart accounts instead of traditional externally owned accounts (EOAs). Smart accounts enhance user experience, security, privacy, and programmability. To date, 20.55M Safes have been created, with 90% of active wallets on World Chain —those with at least one transaction— being Safes.
- World Chain has surpassed $103M in DEX trading volume across 11.7M trades, with USDC (49%), WLD (32%), and WETH (12%) leading the activity. Uniswap activity is rising, with 88k weekly active wallets and 356k in the past 30 days, driven mainly by traders alongside liquidity providers.
ZKSync ↔️
👥 Will Leas | Website | Dashboard
📈 ZKsync Era TVL surges, up ~90% to $197M in the last 7 days
- ZKsync's TVL has jumped ~90% in the past week, up to $197M. ZK Ignite, an incentive program, is the primary driver of the growth in TVL. Split into 3 seasons, ZKsync Ignite will stream 300M ZK tokens over 9 months to DeFi users who provide liquidity for key token pairs, supply to lending markets, and trade on selected DeFi protocols. The ultimate goal of the program is to turn ZKsync Era into the liquidity hub of ZKsync's Elastic Network & ZK-stack chain ecosystem.
- Daily active addresses and daily transactions have both roughly doubled over the last 7 days, mirroring TVL growth.
- ZK Ignite Season 1 is currently incentivizing liquidity on various DeFi apps listed here. Lending protocols Venus, ReactorFusion, & AaveV3, have seen 205%, 442%, & 120% growth in TVL over the last seven days. SyncSwap, a decentralized exchange (DEX), experienced a 44% growth in TVL in that span.
DeFiLlama🔦Transaction Spotlight:The City of Buenos Aires recently rolled-out ZK digital identities for their citizens, powered by QuarkID. QuarkID is a decentralized, open-source, digital public good that offers digital identity and a trust framework, powered by ZKsync Era in order to deliver privacy, security, and scalability for citizens and the government alike. To date, more than 300k DIDs have been created using QuarkID with ZKsync Era serving as the settlement layer. As an example, 7 DIDs were created in this transaction.✍️Editor's Note:Polygon's Proof-of-Stake (POS) blockchain is not technically an L2 in that it doesn't inherit its security from the Ethereum L1. We are including Polygon PoS because it, like L2s, extends Ethereum mainnet's capabilities.
Polygon 🟣
👥 peter | Website | Dashboard
📈 82 Million Organic Stablecoin Transactions on Polygon PoS —Outpaces Ethereum, Solana, Base, and Arbitrum with 4.5M+ Wallets
- Polygon PoS, an Ethereum scaling solution supporting breakout dapps like Polymarket, recorded 82M organic transactions in 2024 — surpassing Ethereum, Arbitrum, and Base. Despite handling only 3% of stablecoin transfer volume, it leads in small transaction counts among blockchains. With 4.5M+ monthly stablecoin users—more than Ethereum, Base, and even Solana—it supports businesses in developing countries using weaker native stablecoins, fostering diverse financial ecosystems.
- BasedApp, a Visa debit card with stablecoin integration, enables customers to use XSGD —Singapore's stablecoin— via Safes for payments at 70M merchants, including fast food, subscriptions, and coffee runs. In 2024, it has processed over USD 5.2M in stablecoin transfers among Singaporeans.
- Picnic, powered by Safe's account abstraction, allows Latin American Web2 users to trade $BRLA stablecoins within DeFi protocols. With 5 months of growth and top ERC-4337 retention rates, its DEX swap volumes on Polygon over the last 3 months exceeded the combined volumes of all other chains.
All Comments