World Chain, the dedicated Layer 2 network for the Worldcoin ecosystem, has shown strong growth momentum recently. On-chain data indicates that the network surged over 130% in the past month, with active addresses skyrocketing by 649%, making it the second largest consumer of Ethereum blobs. This growth is primarily driven by high-frequency interactions from tens of millions of real users and the market hype around AI narratives.
However, the World Chain ecosystem remains fragile. Its total value locked (TVL) is only $40.42 million, heavily dependent on a single protocol. Most of the funds are of a “bridge-and-stay” type – assets are transferred in via cross-chain bridges but are not engaged in deeper on-chain activities, often remaining idle or awaiting opportunities. This suggests that while user activity metrics are impressive, the network has yet to develop a diversified financial and application ecosystem.
Overall, World Chain has achieved significant breakthroughs in user scale and network utilization. Nevertheless, to realize sustainable value growth, it needs to introduce more real-world use cases at the application layer, reduce reliance on a single protocol, and encourage the conversion of bridged funds into deep on-chain economic activities.