How Etherlink’s Apple Farm Became the Gossip of the DeFi Ballroom 🎩🍏

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It appears that Etherlink’s total value locked (TVL) has, rather astonishingly, multiplied twelvefold, surpassing the sum of $18 million, much owing to the bounteous Apple Farm incentive program which, like a most persuasive suitor, has charmed the ecosystem into a dance of burgeoning activity.

Etherlink, that EVM-compatible Layer 2 establishment nested comfortably upon the Tezos Smart Rollups, has notably flourished since abandoning the awkward adolescence of its beta phase in the month of February. Central to this remarkable transformation is the sum of three million dollars dispersed by the Apple Farm rewards scheme, which, like a cunning merchant, has swelled Etherlink’s TVL from a modest $1.4 million to the prodigious amount aforesaid, and all within a matter of mere weeks.

The Apple Farm initiative, it seems, has proven itself a most effective pied piper, drawing users with the allure of rewards whilst stimulating a veritable frenzy of transactions across Etherlink’s decentralized applications. IguanaDEX, the decentralized exchange of some repute, has recorded an eye-watering volume of $150 million in trading, as participants eagerly sought fortunes through rewards and the intriguing sport of arbitrage.

“The triumph of Apple Farm doth plainly illustrate the merit of our endeavours in devising incentive programs and nurturing this fledgling ecosystem,” declared Mr. David Relkin, the esteemed Head of DeFi for the Tezos ecosystem at Nomadic Labs.

One does not find this rise merely in idle gossip, for the latest dispatch from Messari confirms the continual proliferation of user accounts and transactions, with no less than fifty projects presently engaged in labour upon this promising platform. Among these, the DeFi protocol known as Superlend has emerged as a veritable giant, boasting $16.93 million in deposits and a respectable $10.49 million in active loans—numbers that would make even the most seasoned financier take notice.

Etherlink’s own architecture hath not remained static; the March unveiling of the Calypso network upgrade proclaimed the arrival of smart contract storage accelerated by a factor of thirty, a reduced disk appetite for operator nodes, and an admirable fortitude against the calamities of network congestion. These refinements promise a future of greater throughput and hastened tez withdrawals between Etherlink and Tezos—a prospect most delightful to behold.

As if the tale could grow yet more engaging, one learns that the 2025 cohort of the Fortify Labs program, under the auspices of TZ APAC, shall further swell the ranks with seven projects chiefly cultivated upon Etherlink’s fertile grounds, including BluWhale AI (a scholarly purveyor of decentralized analytics), IDRX (an Indonesian Rupiah-pegged stablecoin, no less), and Miomi Game (an arena for the spirited contests of eSports enthusiasts).

In summation, dear reader, it would seem that Etherlink, much like a social season suddenly en vogue, has captured the attention and engagement of a worthy assembly, all while waltzing gracefully through the ever-chaotic ball of DeFi innovation. 🍸

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2025-04-17 22:40