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Zircuit Staking Program Breaks $500M TVL And Adds Ethena Integration

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Thu, 7/03/2024 - 21:03
Zircuit Staking Program Breaks $500M TVL And Adds Ethena Integration
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George Town, Grand Cayman, March 7th, 2024, Chainwire

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Zircuit, a zk rollup with parallelized circuits and AI-enabled security at the sequencer level, today announced its staking program has surpassed $500M in TVL. Currently in testnet phase, Zircuit is poised to hit a mainnet TVL on day one that surpasses major blockchains such as Linea, Manta, Mantle, Near, Scroll, Aptos, and zkSync.

Next week, Zircuit will integrate Ethena, adding to its 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 to a yield-bearing synthetic dollar fully collateralized and freely composable onchain. Other protocols in the program include Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.

Points programs have become a rising trend in crypto, offering a new 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. Through the staking program, users can earn Zircuit points on top of any staking yield or points they are already earning. Users who opt-in to migrate their assets to the Zircuit Mainnet when it goes live are rewarded the most. Users can withdraw at any time and keep the points and yield earned, as ETH isn't hard-locked like Blast or Mantle. 

After spending over a year and a half conducting L2 research, the Zircuit team created an L2 with a built-in AI-enabled sequencer that protects users by monitoring the mempool for malicious transactions. In comparison to typical security efforts that focus on the application and smart contract levels, Zircuit brings sequencer-level security (SLS). This means that every transaction on Zircuit will go through low-level security checks resulting in a more secure chain for projects and end users. Zircuit is also fully EVM-compatible, offers greater efficiency, and provides users with cheaper and faster transactions.

Backed by Pantera Capital, Dragonfly Capital, and Maelstrom, Zircuit is currently in testnet phase with mainnet expected to come later in 2024. To participate in Zircuit Staking, users can visit: https://stake.zircuit.com/ 

About Zircuit

Zircuit is a zk rollup with parallelized circuits and AI-enabled security at the sequencer level. Built by a team of web3 security veterans and PhDs in computer science, algorithms, and cryptography, Zircuit’s unique architecture combines the best of both worlds of performance and security. To learn more visit zircuit.com or follow us on Twitter/X @ZircuitL2


Contact
Jessica Graber
Zircuit
jessica@zircuit.com

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