Airdrop farming propelling growth in Ethereum layer-2 activity

Average total transactions per second on layer-2 is now four times greater than that of Ethereum mainnet

article-image

Juan Roballo/Shutterstock, modified by Blockworks

share

Since last quarter, Ethereum layer-2s have witnessed vastly more activity than Ethereum mainnet, marking a significant increase compared to last year.

The average total transactions per second (TPS) of those chains seeking to scale Ethereum stood at roughly 45.3 — four times greater than Ethereum’s 11.91 TPS, data shows.

Now that multiple layer-2 rollups have come online, activity is 287% busier than a year ago. There are now more than 20 separate L-2 networks built atop Ethereum, all aiming to improve scalability and efficiency, reducing the cost per transaction.

The amount of computational resources, known as “gas,” used on the Ethereum network every month to validate and settle transactions taking place on L-2s also remains elevated this year.

L-2 growth appears to be concentrated around airdrop farming transactions Sam Holman, derivatives analyst at Australian trading firm Zerocap, told Blockworks. Airdrop farming is a process where users perform certain actions to be eligible to receive free tokens.

“If you look into the specific chains the volumes have increased on, you’ll see [zkSync] Era and also Polygon [zkEVM] having an elevated contribution, as well as Optimism.”

A notable uptick in L-2 volume was also observed following Arbitrum’s airdrop in March, as airdrop hunters migrated from there to zkSync speculating on the eventual debut of a native token to reward early adopters.

Users transacting on Optimism are primarily doing so via platforms like Uniswap V3 and Stargate, DappRadar daily volume data shows.

As it stands, Stargate, a LayerZero bridge and airdrop candidate, has about seven times more active users though only around half of the volume of Uniswap. Holman pointed to users cycling through different addresses, repeating the same transactions, to inflate their chances of getting a higher airdrop allocation.

“I would put down the consistent volume through Stargate to farmers trying to be eligible for the LayerZero token,” Holman said. “It’s the cheapest chain to bridge funds on and a lot of the market seems to think the number of transactions will be a primary criterion for a LayerZero airdrop.”

LayerZero CEO Bryan Pellegrino recently told Blockworks’ 0xResearch podcast that, in his view, airdrop hunting was not a dominant factor, but perhaps accounts for around 54% of the volume.

“I don’t spend too much time thinking about it — ultimately it’s something that’s outside of my control,” Pellegrino said. “Right now, if 98% of the volume was [airdrop farmers] it would still be the most used bridge in the world by a factor of like 4.”


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Fluid's hybrid money market & DEX protocol has grown rapidly since launch in December of 2024.

article-image

Should higher-fidelity graphics be the goal for crypto games — which result in much higher costs and risk?

article-image

From Mel B to Neil deGrasse Tyson, BTC has seen its share of strange celebrity sightings

article-image

Circle’s roadshow will be the real test for the stablecoin issuer

article-image

PitchBook’s Robert Le said crypto projects focused on institutional use cases are the focus

article-image

The decentralized AI firm designed ODS to be owned by the community in an effort to promote more decentralized AI

article-image

The non-profit’s launch and big-name hires aim to grow Solana’s footprint in Washington