Apple Farm season 2 now live on Etherlink with $3M in rewards

Apple Farm Season 2 has launched on Etherlink with over $3 million in rewards to support the Layer 2’s DeFi ecosystem growth, as per the report shared with Finbold on July 24.

The second season follows Season 1, which attracted thousands of users, generated over $47 million in total value locked (TVL), and distributed $3 million in XTZ rewards.

Introducing Apple Farm Season 2 🍏🧑‍🌾

More projects, more apps, more DeFi 👀

$3,000,000+ in rewards 🤯

Starting July 24th, get ready! pic.twitter.com/uYam2RIbxP

— Etherlink 🔗 (@etherlink) July 14, 2025

Apple Farm is a rewards program that incentivizes users to participate in DeFi applications on Etherlink, including trading, lending, and providing liquidity. Season 2 introduces applXTZ, a new reward token that provides users immediate access to 20% of their rewards, with the remaining 80% unlocking over six months.

“Season 1 showed there’s strong demand for smart, well-structured incentives,” said David Relkin, Head of DeFi at Nomadic Labs. “With Season 2, we’re leveling up, more partners, more flexibility, and reward mechanics designed to keep users active and engaged over time. We’re building real, lasting value for the ecosystem.”

New partnerships and developments

Season 2 features participating protocols, including Jumper.Exchange, Lombard, Curve, OKU, Gearbox, Stacy.fi, Hanji, Superlend, Uranium.io, and IguanaDEX, with additional protocols joining throughout the season. Reward opportunities refresh every two weeks based on activity and demand.

“We’re excited to continue our partnership with Etherlink through Apple Farm Season 2,” said Pablo Veyrat, co-founder of Merkl, which powers the Apple Farm platform. “This season is more dynamic, more accessible, and we think it’s going to drive even stronger engagement across the board.”

Season 1 peaked at $47.7 million in TVL and $88.5 million in on-chain asset value. Recent network developments include Midas’ launch of tokenized assets and Oku’s DeFi aggregator, bringing Uniswap v3 functionality. Network performance improvements include smart contract storage speed increases up to 30x and bridging times reduced from 15 days to under a minute.

Featured image via Shutterstock.