Linea Ecosystem Inventory: L2 Network Launched by MetaMask Parent Company
Author: defioasis
Note: This article is for information sharing purposes only. It does not endorse the projects mentioned and has no financial interest related to them.
On July 19, at the EthCC event, Linea, an L2 network built by ConsenSys, announced the launch of its Mainnet Alpha to the community. Nearly a week after going live, the Linea ETH Bridge (0xd1…876F) has had over 11,000 ETH (worth over $21 million) deposited into it, with the number of unique addresses exceeding 65,000. Although ConsenSys claims to have no plans to release Linea Token, the heat from the previous Linea Voyager task airdropped NFT still attracted a number of low-net-worth players after the mainnet launch. Data from Dune Analytics shows that among more than 65,000 addresses, about 55,000 addresses deposited ETH worth less than 0.1 ETH, accounting for approximately 85%.
This article will review the popular user interaction native ecological projects on the Linea mainnet based on metrics such as on-chain data, official recommendations, project data, and social media heat.
Wallet
Fluvi Wallet
Fluvi is a multi-chain smart contract wallet that was highly recommended during the Linea Voyager event. Users can log in with a Google account, and it Features functions such as private key recovery not required, seamless syncing across multiple devices, gasless transactions, a transaction shopping cart, a customizable function store, and 2FA protection. Fluvi’s partners for gas-free transactions include Velocore, Pancakeswap, Compound, and Sushiswap, among others.
In the article reviewing and looking forward to Linea Voyager, Fluvi revealed that it has completed 116,000 downloads, 300,000 bundled transactions, and created 139,000 addresses during this period. In the future, Fluvi will focus on areas such as anonymous syncing, diverse login and 2FA options (like passkey, Apple, Twitter, Ledger, TOTP, passkey, and other 2FA options), fault protection options, Omnichain Gas Tank, which allows any token to be used as gas payment, and key fields like mobile APP.
Third Party Bridge
Owlto Finance
Owlto is a third-party cross-chain bridge that Linea’s official account has repeatedly retweeted. It supports cross-chain operations between Linea and Ethereum, Arbitrum, Arbitrum Nova, Optimism, and zkSync Era. Owlto’s fee structure includes the bridge fees that users pay to the platform and liquidity providers, as well as gas costs. Notably, unlike some Cross-Rollup bridges based on Rollup technology, asset transfers on Owlto occur directly between two EOA addresses, without the need to interact with smart contracts, i.e., the sender interacts directly with the liquidity provider’s EOA address.
Owlto Finance was audited for security by Beosin, and it claims that its core contract passed the GPT4 audit.
Merkly
Supported by LayerZero, Merkly allows users to perform cross-chain operations for Omnichain NFT/Omnichain FT between Linea and 11 other chains including Optimism, Avalanche, Polygon zkEVM, BNB Chain, Metis, Fantom, Kava, Arbitrum, Polygon, Base, and Mantle. Moreover, Merkly also supports gas exchanges between different public chains. Merkly ONFT transfers are the second most active ERC-721 activities on the Linea chain, next only to domain names, with over 2,100 transactions in the last 24 hours.
DeFi
LineaBank
LineaBank is a native lending platform built on the Linea, and currently holds the highest TVL protocol on the Linea. It is also the second largest ETH contract on the chain, with over 3,000 ETH in liquidity. This platform uses an over-collateralized player-to-protocol model. Users can freely collateralize assets to LineaBank, lend funds, and receive LAB Tokens as rewards. In addition, users will receive sTokens, which represent a proportional share of the loan pool. The value of the sTokens will increase over time with accrued interest; when the user repays the loan and withdraws the collateral, they will get their original collateral as well as the added value.
Currently, the main lending and borrowing assets on LineaBank are ETH. As of July 25, LineaBank had 7,042 ETH deposited and 4,022 ETH lent, with a deposit APY of approximately 4.015% and a loan APY of -8.787%. LineaBank is now in the pre-mining phase for LAB, which will continue until August 11. They’re using 3 million LAB, 3% of the supply, as lending and borrowing rewards to enhance liquidity.
LineaBank has been KYC (Know Your Customer) certified by Cyberscope and audited for security by PeckShield. Its partners also include IZUMI, LBank, Insolvent Capital, and others.
HorizonDEX
HorizonDEX is one of the most commonly used native DEXs on the Linea chain. Its current TVL is approximately 1.67 million US dollars, mainly concentrated in the BUSD/ETH LP Pool, which accounts for about 70%. On July 24, the trading volume reached 2.37 million US dollars, capturing over 7 thousand US dollars in fees. HorizonDEX charges about 0.3%-1% in fees per transaction. In addition, HorizonDEX has launched a loyalty program for its users, where every $1 in trading volume or $1 increase in liquidity every 24 hours will earn 1yHZN. The more one trades, and the more liquidity is increased, the more future airdrop rewards can be obtained. This loyalty program has been running from July 19 to August 2. It’s important to note that the contract for the HZN Token has not yet been created.
HorizonDEX has been audited for security by SOLIDProof, DEFIMOON, and Hacken, and its ecosystem partners include OKX, Arc Finance, among others.
EchoDEX
EchoDEX claims to be the first DEX built on the Linea. Its current TVL is approximately 780 thousand US dollars, mainly concentrated in the ECP/ETH, LIN/ETH, and BUSD/ETH Pools, with the BUSD/ETH Pool having 27,000 ECP prepaid platform fee rewards. Its accumulated trading volume is 2.3 million US dollars. It’s worth mentioning that another DEX on Linea, LineaSwap (LIN), also claims to be the first DEX.
EchoDEX’s fee structure includes three scenarios. For users without any platform currency ECP, a fee of 0.3% is charged per transaction, with the fees evenly divided into the community fund, treasury fund, and the EchoDEX team. For users holding ECP, they can use ECP as transaction fees, and the transaction fees are reduced to 0.1%. EchoDEX will purchase ECP to add to the Community Pool Fund (CPF) to pay fees for users.
Currently, the EchoDEX ECP Token has been launched, mainly used for transaction fee discounts, Farming and staking rewards. In addition, it can also be obtained as airdrop rewards by earning points through completing platform trades and liquidity tasks.
EchoDEX has been audited for security by Secure3, and plans to collaborate with major exchanges in the fourth quarter of this year to facilitate listing.
NFT Marketplace
Zonic
Zonic, a multi-chain L2 NFT marketplace, is an official partner of Linea NFT and was created by the Optimism NFT project, Apetimism. In addition to peer-to-peer trade, Zonic also provides a Launchpad (shared with Apetimism’s Launch), an insights dashboard, and task Features. At present, Zonic has completed over 300 ETH in NFT volume across six L2 public chains, including Linea, paid creators a cumulative 5.83 ETH in fee revenue, and captured 7.58 ETH in market fees. Linea alone completed nearly 30 ETH in NFT volume, paid creators 1.27 ETH in fee revenue, and captured 0.73 ETH in market fees. Although Zonic captured a good market share after launching on Linea, the current Linea NFT market is still very small. The NFT volume of Zonic in the Linea NFT market is mainly concentrated in LineaPunks, LineaApes, LineaFrens, and LNS, among others.
Domain Names
Linea Name Service
LineaNS claims to be the first domain name service provider on the Linea chain and is supported by Star Protocol, a winner of the BNB Chain Hackathon. At present, the price to register a four-digit domain for one year with LineaNS is about 0.0526 ETH, while the price for a domain of five digits or more is 0.0026 ETH, with the current floor price on Zonic being 0.0033 ETH. Investors in LineaNS (or rather, Star Protocol) include AC Capital, Youbi Capital, MEXC Pioneer, OKX, among others.
Game
Battlemon
Battlemon is a on-chain game built on the Linea mainnet that currently offers basic Features and gameplay such as a shop, mining, and crafting. Although the game is still quite basic, it has a budding mining system revolving around gems and tools (with parameters like level, sharpness, probability). Battlemon also plans to develop several mini-games and is building a “Fight Club” where users can compete.
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