Apple Farm Yields a $40 M TVL Harvest on Tezos’ Etherlink Ecosystem but What Does This All Mean
The post Apple Farm Yields a $40 M TVL Harvest on Tezos’ Etherlink Ecosystem but What Does This All Mean appeared on BitcoinEthereumNews.com. Source: DepositPhotos Recent reports reveal that Tezos’s L2 offering ‘Etherlink’ has been enjoying a DeFi growth spurt of epic proportions, thanks, in large part, to a cleverly gamified incentive program called ‘Apple Farm.’ To elaborate, within a couple of weeks, Etherlink’s total value locked (TVL) seems to have rocketed from zero to nearly $40 million, with this massive surge in liquidity marking one of the fastest DeFi expansions the Tezos ecosystem has ever seen. For a network that only exited its beta testing phase this February, Etherlink has wasted no time making a name for itself and it seems to largely be Apple Farm’s lucrative reward structure drawing in the crowds. Etherlink’s TVL since July of last year (source: X) The DeFi frenzy on Etherlink, explained! Etherlink launched as an EVM-compatible rollup on Tezos, but as everyone knows, even the best tech needs its share of users. In this context, Apple Farm emerged as the perfect incentive program, one with a whimsical name but a very serious war chest, to boost Tezos’ global adoption (boasting of $3,000,000 in rewards for Season 1 alone). From the outside looking in, the goal of the scheme is to supercharge DeFi activity on Etherlink by rewarding the very things that make DeFi tick across a select few protocols. To put it simply, Apple Farm pays users to dive in and use Etherlink’s fledgling DeFi apps. By providing liquidity, lending tokens and trading on DEXs, users can earn rewards. It’s a play out of the classic yield farming gamebook, but with a fun twist wherein Apple Farm rewards come in the shape of “Apple” points, thus turning on-chain activity into something like a DeFi harvest festival. Revenue metrics associated with Etherlink (source: X) When Apple Farm kicked off (with the dev team unveiling the…
The post Apple Farm Yields a $40 M TVL Harvest on Tezos’ Etherlink Ecosystem but What Does This All Mean appeared on BitcoinEthereumNews.com.
Source: DepositPhotos Recent reports reveal that Tezos’s L2 offering ‘Etherlink’ has been enjoying a DeFi growth spurt of epic proportions, thanks, in large part, to a cleverly gamified incentive program called ‘Apple Farm.’ To elaborate, within a couple of weeks, Etherlink’s total value locked (TVL) seems to have rocketed from zero to nearly $40 million, with this massive surge in liquidity marking one of the fastest DeFi expansions the Tezos ecosystem has ever seen. For a network that only exited its beta testing phase this February, Etherlink has wasted no time making a name for itself and it seems to largely be Apple Farm’s lucrative reward structure drawing in the crowds. Etherlink’s TVL since July of last year (source: X) The DeFi frenzy on Etherlink, explained! Etherlink launched as an EVM-compatible rollup on Tezos, but as everyone knows, even the best tech needs its share of users. In this context, Apple Farm emerged as the perfect incentive program, one with a whimsical name but a very serious war chest, to boost Tezos’ global adoption (boasting of $3,000,000 in rewards for Season 1 alone). From the outside looking in, the goal of the scheme is to supercharge DeFi activity on Etherlink by rewarding the very things that make DeFi tick across a select few protocols. To put it simply, Apple Farm pays users to dive in and use Etherlink’s fledgling DeFi apps. By providing liquidity, lending tokens and trading on DEXs, users can earn rewards. It’s a play out of the classic yield farming gamebook, but with a fun twist wherein Apple Farm rewards come in the shape of “Apple” points, thus turning on-chain activity into something like a DeFi harvest festival. Revenue metrics associated with Etherlink (source: X) When Apple Farm kicked off (with the dev team unveiling the…
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