Etherlink, the EVM-compatible blockchain built on Tezos, has seen its total value locked (TVL) surge twelvefold, thanks to the rapid success of its Apple Farm incentive program. The initiative has ignited significant user and developer activity across the ecosystem, positioning Etherlink as a notable emerging player in the Layer 1 space.
Incentives Drive Explosive Growth
According to reports from ecosystem developers, Etherlink’s TVL skyrocketed from $500,000 to over $6 million in just a few weeks. The growth is largely attributed to the Apple Farm rewards initiative, launched in collaboration with Baking Bad and Plenty.
This program incentivizes users and liquidity providers by rewarding participants with “apples,” which can later be converted into the upcoming ELK token, the native governance asset of Etherlink.
The Apple Farm operates across multiple DeFi applications built on Etherlink, encouraging TVL inflows, staking, and DEX activity.
Why Etherlink Is Gaining Traction
Etherlink’s design as a low-fee, high-throughput EVM chain has made it a friendly environment for Ethereum developers looking to expand or migrate. The Tezos-backed chain also benefits from:
- A robust developer community and Tezos Foundation support
- Native EVM compatibility, easing deployment of Ethereum-based smart contracts
- A growing suite of DeFi applications, NFT platforms, and tooling
The current success of Apple Farm could further accelerate protocol adoption ahead of the ELK token launch, which is expected later this year.
Looking Ahead: ELK Token and Governance
The surge in ecosystem activity is also paving the way for decentralized governance via the ELK token. As stated by Etherlink contributors, the token will play a central role in governance decisions, future incentive programs, and ecosystem development funding.
Observers note that Etherlink’s incentive-heavy launch strategy mirrors those of earlier high-growth chains like Avalanche and Optimism—indicating that competitive rewards models are still effective in bootstrapping adoption.
