Zircuit Staking Program Reaches $500 Million TVL and Adds Ethena Integration

adminMarch 7, 2024

George Town, Grand Cayman, March 7, 2024, Chainwire

Zircuit, a zk rollup with parallel circuits and sequencer-level AI-assisted security, today announced that its staking program has surpassed $500 million in TVL. Currently in the testnet phase, Zircuit is poised to reach its first mainnet TVL, outperforming leading blockchains such as Linea, Manta, Mantle, Near, Scroll, Aptos, and zkSync.

Next week, Zircuit will integrate Ethena, adding to the growing list of Zircuit Stake supported protocols. Users who stake USDe on Zircuit will earn Zircuit points and 7x shards (Ethena points). Ethena is a crypto-based solution for synthetic dollars that are fully collateralized on-chain and have a freely configurable yield. Other protocols in the program include Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.

Points programs have become an emerging trend in the cryptocurrency space, providing a new way to incentivize users who contribute to the protocol. Zircuit Stake is an innovative program that allows users to earn Zircuit Points by depositing ETH, Liquid Stake Token (LST), and Liquid Restake Token (LRT). The staking program allows users to earn Zircuit points in addition to staking returns or points already earned. Users who choose to migrate their assets to the Zircuit mainnet will receive the most rewards when the Zircuit mainnet becomes active. Since ETH is not hard locked like Blast or Mantle, users can withdraw it at any time and keep the points and returns they have earned.

After spending over a year and a half conducting L2 research, the Zircuit team created an L2 with a built-in AI-assisted sequencer that protects users by monitoring the mempool for malicious transactions. Compared to typical security efforts that focus on the application and smart contract level, Zircuit provides Sequencer Level Security (SLS). This means that all transactions on Zircuit undergo low-level security checks, resulting in a more secure chain for the project and end users. Zircuit is also fully EVM compatible, providing higher efficiency and providing cheaper and faster transactions for users.

Backed by Pantera Capital, Dragonfly Capital, and Maelstrom, Zircuit is currently in the testnet phase, with mainnet expected to launch in late 2024. To participate in the Zircuit Stake, users may visit https://stake.zircuit.com/.

About Zirkit

Zircuit is a zk rollup with parallel circuitry and AI-assisted 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: performance and security. For more information, visit zircuit.com or follow us on Twitter/X. @ZircuitL2