Zircuit Staking Program Surpasses $500M in TVL
Zircuit, a zk rollup with parallelized circuits and AI-enabled security at the sequencer level, has announced that its staking program has surpassed $500M in Total Value Locked (TVL). This achievement comes during the testnet phase, and Zircuit is expected to have a mainnet TVL on day one that surpasses major blockchains like Linea, Manta, Mantle, Near, Scroll, Aptos, and zkSync.
Integration of Ethena
Next week, Zircuit will integrate Ethena into its staking program. This integration will add to the growing list of supported protocols for Zircuit Staking. Users who stake USDe with Zircuit will earn Zircuit Points and 7x Shards (Ethena points). Ethena is a crypto-native solution that offers a yield-bearing synthetic dollar fully collateralized and freely composable onchain. Other protocols included in the program are Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.
Incentivizing User Contribution
Points programs have gained popularity in the crypto industry as a way to incentivize users who contribute to a protocol. Zircuit Staking is an innovative program that allows users to deposit ETH, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs) to earn Zircuit Points. By participating in the staking program, users can earn additional Zircuit points on top of any staking yield or points they are already earning. Users who choose to migrate their assets to the Zircuit Mainnet when it goes live will be rewarded the most. It’s important to note that users can withdraw their assets at any time and keep the points and yield earned, as ETH is not hard-locked like Blast or Mantle.
Enhanced Security Measures
Zircuit has prioritized security in its development process. The team has spent over a year and a half conducting Layer 2 (L2) research to create an L2 solution with a built-in AI-enabled sequencer. This sequencer monitors the mempool for malicious transactions, providing users with enhanced security at the sequencer level (SLS). Unlike typical security efforts that focus on application and smart contract levels, Zircuit’s SLS ensures that every transaction on the platform goes through low-level security checks, resulting in a more secure chain for projects and end users. Additionally, Zircuit is fully EVM-compatible, offers greater efficiency, and provides users with cheaper and faster transactions.
Backed by Prominent Investors
Zircuit has garnered support from reputable investors in the crypto industry. It is backed by Pantera Capital, Dragonfly Capital, and Maelstrom. Currently in the testnet phase, Zircuit is expected to launch its mainnet later in 2024.
HOT TAKE: Zircuit Staking Program Achieves Impressive Milestone
The recent achievement of Zircuit’s staking program surpassing $500M in TVL highlights the growing interest in this innovative protocol. By integrating Ethena and offering incentives through Zircuit Points, Zircuit aims to attract even more users to participate in its staking program. The emphasis on security measures, including AI-enabled sequencer-level security, sets Zircuit apart from other platforms. With the backing of prominent investors, Zircuit is poised for success as it moves towards its mainnet launch. As an investor, exploring the opportunities offered by Zircuit Staking could be a beneficial move in your crypto journey.
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