Scroll, a popular Ethereum layer-2 network, has deployed its Euclid upgrade earlier today. The Scroll team is right to boast that this upgrade is the biggest protocol change they have made so far. The network’s Total Value Locked (TVL) has tanked to just $62.6 million as of April 22nd 2025. This major drop has turned heads and raised eyebrows, as per DefiLlama. For one, the upgrade and subsequent TVL decline mark a crucial inflection point for the network.
Information about the launch of the upgrade, launched in beta, was published by Scroll on Wednesday. The team highlighted the significance of this network upgrade for the long-term viability of the network.
"Euclid represents the biggest leap forward for Scroll since its inception," - Scroll Team
Scroll’s TVL has taken a massive beating since its peak TVL ATH.
October 18, 2024—At a snapshot of all wallets, to see who would be eligible for the airdrop of one SCROLL token. After that event, Scroll’s TVL dropped off a cliff. At the time of writing, the protocol has $62.6 million locked in. This mirrors an incredible 94% drop from its high of over $900 million, set just prior to October 18, 2024.
Ethereum’s layer-2 networks were originally rolled out with these kinds of “training wheels” underpinnings, where the efficiency, security, and decentralization triangle has built-in trade-offs. Back at the beginning of the rollup era, Ethereum co-founder Vitalik Buterin laid out a conceptual framework for these layer-2 networks. However, Buterin pledged that he would only speak on layer-2 networks which had achieved stage 1 or higher. He reached this decision after grappling with concerns about the opacity of security levels.
Unichain, Ink, and Kinto have all joined Scroll recently, a sign of ongoing protocol evolution. Until now, those three were the only projects in the same stage of development as Scroll.
"It's a statement about Scroll's future and its commitment to pushing the boundaries of what's possible in the ZK Rollup arena." - Scroll Team
