Etherlink Surges Past $18M TVL as Apple Farm Rewards Drive DeFi Explosion
Apple Farm Campaign Supercharges Etherlink’s Growth
Etherlink, the Tezos-native EVM Layer 2, has seen its TVL grow 12x in just weeks, crossing the $18 million mark. The catalyst? Apple Farm, a $3 million rewards program created to increase ecosystem participation and liquidity. Since exiting beta in February, Etherlink has gained significant adoption momentum.
DEX Volumes Soar Amid Incentive-Driven Activity
The Apple Farm initiative has drawn users to Etherlink’s DeFi platforms with remarkable success. IguanaDEX, the network’s flagship DEX, registered $150 million in cumulative volume as users traded actively to earn incentives and explore arbitrage opportunities.
Commenting on the results, David Relkin of Nomadic Labs said, “The program shows how effective incentives can be when paired with a strong network foundation.”
Network Sees Broad Uptake Across Builders
According to a report by Messari, the Etherlink ecosystem is experiencing steady growth, with over 50 teams now building apps on the chain. Lending platform Superlend stands out, capturing $16.93 million in deposits and managing $10.49 million in outstanding loans — showcasing increasing user confidence.
March Brought Major Protocol Upgrades
Backing this growth is the Calypso upgrade, released in March, which delivered significant performance improvements. The update reduced node disk usage, improved storage speed for smart contracts by 30x, and added resiliency during transaction surges — preparing Etherlink for larger-scale adoption.
Next Growth Chapter: Fortify Labs Projects
The upcoming Fortify Labs cohort (2025) will further expand Etherlink’s project lineup. Seven startups have been onboarded, including:
- BluWhale AI – Web3 analytics tools
- IDRX – A stablecoin pegged to the Indonesian Rupiah
- Miomi Game – A decentralized eSports platform
Etherlink’s combination of incentive programs, technical upgrades, and developer support is setting the stage for it to become one of the most compelling DeFi-focused Layer 2 platforms in the space.
