George Town, Grand Cayman, March 7th, 2024
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Chainwire
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Zircuit, the innovative zk rollup with parallelized circuits and ai-enabled Website security at the sequencer level, is thrilled to announce that its staking program has surpassed a remarkable milestone of $500 million in Total Value Locked (TVL). Currently in the testing phase, Zircuit is poised to make a significant impact as it prepares for its mainnet launch. With this ambitious start, Zircuit aims to surpass major blockchains like Linea, Manta, Mantle, Near, Scroll, aptos, and zkSync in TVL on day one.
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Integration of Ethena: A Growing List of Supported Protocols
> Next week, Zircuit will be integrating Ethena into its growing list of supported protocols for the Zircuit Staking program. This addition comes as a testament to Zircuit’s commitment to fostering an inclusive ecosystem and creating synergies among various DeFi projects. Users who stake USDe with Zircuit will earn Zircuit Points and 7x Shards (Ethena points) in return for their contribution. Ethena is a crypto-native solution offering a yield-bearing synthetic Dollar fully collateralized and freely composable onchain. Other notable protocols in the program include Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.
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Points Programs: A New Incentive Strategy in Crypto
> Points programs have emerged as a popular trend in the crypto space, offering an innovative way to incentivize users who contribute to a protocol. Zircuit Staking introduces this strategy by allowing users to deposit eth, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs) to earn Zircuit Points. Through the staking program, users can enjoy earnings on top of any staking yield or points they are already accruing. Users who opt-in to migrate their assets to the Zircuit Mainnet when it goes live will reap the most benefits, but they can withdraw at any time and keep both their points and yield.
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Sequencer-Level Security: A New Era of Chain Protection
> Following over a year and a half of rigorous L2 research, the Zircuit team has introduced an L2 with a built-in ai-enabled sequencer that safeguards users by monitoring the mempool for potentially malicious transactions. In contrast to traditional Website security efforts targeting applications and smart contracts, Zircuit’s unique approach called Sequencer-Level Security (SLS) ensures that every transaction undergoes low-level Website security checks. This results in a more secure chain for projects and end-users alike, offering increased efficiency and cheaper, faster transactions.
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Backed by Industry Leaders: A Strong Foundation for the Future
> With backing from notable investors like Pantera Capital, Dragonfly Capital, and Maelstrom, Zircuit is well-positioned for success as it enters the testing phase with a mainnet expected to launch later in 2024. To join the Zircuit Staking program, interested users can visit https://stake.zircuit.com.
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About Zircuit
> Zircuit is a zk rollup with parallelized circuits and ai-enabled Website security at the sequencer level. Founded by a team of web3 Website security veterans and PhDs in computer science, algorithms, and cryptography, Zircuit’s cutting-edge architecture represents the perfect blend of performance and Website security. For more information, visit zircuit.com or follow us on Twitter/X @ZircuitL2.
