The fourth quarter of 2024 was a successful period for Tezos, particularly for their EVM-compatible Layer 2 solution, Etherlink. Here we present the key highlights and ecosystem developments.
Etherlink Deployment and TVL Growth
Etherlink saw a 184% increase in contract deployments, reaching over 1,700 new contracts, driven by lower fees and faster transaction speeds. This growth contributed significantly to the DeFi TVL on the platform.
Growth at Tezos L1
Despite Etherlink's success, Tezos L1 also showed positive trends with an 18% increase in contract deployments and a 30.4% rise in fee revenue.
Impact of Upgrades and Outlook
The Quebec upgrade supported the integration of Ethereum-based assets and DeFi applications, strengthening Tezos's market position. The ecosystem is set to evolve with initiatives like the upcoming JavaScript Rollup.
Tezos continues to enhance its ecosystem, showing growth in both L1 and Etherlink. The platform solidifies its position with strategic upgrades and technology integration.
