Linea is one of the outstanding zkEVMs. Besides zkSync or StarkNet, the Linea ecosystem is also full of puzzle pieces ready to explode. So the Linea ecosystem is at this stage, everyone, let’s find out in the article below.
To understand the Linea ecosystem, people can refer to some of the articles below:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Zk Rollup? Zk Rollup Solution Overview
- What is zkEVM? Distinguishing 4 Types of zkEVM
- What is LiNea? Overview of Cryptocurrencies
Current Situation of the Linea Network
Successful pilot program with the community
From the community’s FOMO after huge airdrops from Optimism, Arbitrum,… Linea is one of the projects that users focus on doing airdrops a lot, so when organizing events such as:
- Bridge Week
- Social Campaign
- NFT Week
- NFT Reveal
- Tech and Dev Week
- Show Your Knowledge of Linea & Earn Point
- Social & Entertainment Week
- DeFi Week
- Adventure Week
- I’m a first class Linea Citizen Campaign
With support from the community, Linea’s events easily receive the participation of more than 1 million people and this number is maintained throughout Linea’s events. It can be seen that when there were millions of users of Linea’s testnet network, they quickly encountered problems such as:
- The network is congested and very laggy. To complete a transaction can take up to several hours, or even be impossible.
- Transaction fees on the testnet network are pushed up too high. Even though it is a testnet network, transaction fees on Linea even reach 2 ETH.
Linea’s testnet achieved a number of achievements such as 5.5M wallet addresses participating with more than 46M transactions.
Hopefully, through a heavy test when deploying Linea, it will be smoother when officially mainnet and will not fall into the same situation as zkSync currently. Currently, the zkSync network is having to refund 50 -80% of transaction fees to users.
Linea launches Mainnet Alpha
On July 11, 2023, Linea officially introduced Mainnet Alpha to start the battle with zkSync Era or Polygon zkEVM and officially launched at the ETHCC event. Linea’s network itself in this period will also have some limitations such as:
- Withdrawal limit and will remove this limit 90 days after Mainnet Alpha launch.
- There will be a delay between Layer 2 and Layer 1.
- Full EVM Ppcodes will not be available.
Linea’s next development roadmap is not shared too precisely by Consensys. Currently, the development team only has a roadmap to decentralize the network and is divided into 5 different phases from Phase 0 to Phase 4 but the exact time is unknown.
Linea Total Ecosystem
The infrastructure pieces are gradually being completed
Unlike emerging ecosystems that take a lot of time to build infrastructure, the parent company behind Linea, Consensys, is the tycoon in the infrastructure village on Ethereum with Infura and Metamask. With its attraction and relationships, the Linea ecosystem quickly fills infrastructure gaps including:
- Dev Tools: ApeWorx, Ethereum List, Thirdweb, Truffle, Umbrella Network, Wallet Connect, Open Zeppelin, Multicall3,…
- Infrastructure: Automata, Axelar, Circle, Biconomy, Banxa, Azuro, DSLA, Omni Network, Particle Network, Lit Protocol, zkLink, Sidus Heroes, Unifra,…
- Wallets: Metamask, OKX Wallet, Patch Wallet, BitKeep, Desig Labs, Nabox Wallet,…
- Bridge: Lifi, Stargate, Satellite, Symbiosis, Celer, Orbiter Finance,…
- Data Indexers: Covalent, RedStone.
- Oracle: API3, Pyth Network, Geno,…
The pieces of the puzzle are basically complete for developers to start building their protocols on the Linea ecosystem.
The appearance of big names
Besides the big names in the Infrastructure segment appearing on the Linea ecosystem such as LayerZero, Wallet Connect or Covalent, in the DeFi segment there is the sole appearance of AAVE. It is highly likely that AAVE will be the Lending & Borrowing platform on Linea, besides, we will wait for the proposal to deploy Uniswap V3 on Linea. Now, DeFi Natives will have to compete fiercely with DeFi Multichain platforms.
Most of the current opportunities for DeFI Natives mainly lie in areas such as Launchpad, DEX, Derivatives, Yield Farming or CDP.
Some Native projects on the Linea ecosystem
Besides multichain projects, we have some quite special Native projects on the Linea ecosystem including:
- Horizon DEX: Is an AMM platform aiming to build centralized liquidity on Linea
- Mendi Finance: Is a Lending Pool platform similar to AAVE.
- LineaBank: Is a Lending & Borrowing platform focusing on building use cases for Native Token LAB.
- Mimo Labs: Is a CDP platform that supports users to mortgage assets to mint stablecoin paUSD. The operating model is similar to Maker DAO.
- EchoDEX: Is an AMM platform built on the basis of Uniswap V2.
Some Comments on the Linea Ecosystem
Linea’s ecosystem is still in its early stages, most of the DeFi puzzle pieces are still very fragmented, but we cannot ask for more than a project that has been deployed for less than two months. I believe that the Consensys development team is a team worth betting on in the long term.
At the present time, Linea’s development direction is not really clear. We still don’t know which pieces Linea will focus on because right now Linea’s ecosystem has a number of Social pieces that are not present on many other zkEVM platforms such as Cyber Connect and ReadOn. So we still need to observe more in the future.
Summary
The Linea ecosystem still does not have a clear direction in development. On the testnet version, Linea is testing both DeFi, Social and NFT segments, so it is relatively difficult to predict the Linea ecosystem at the present time.
