Zircuit staking program soars to $385M TVL and adds EtherFi integration

Zircuit’s recently launched staking program has amassed over $385M in TVL in two weeks. The program broke records in the first 24 hours when it accumulated over $129M TVL, surpassing other scaling solutions in both TVL and community statistics. 

Zircuit also integrated EtherFi, adding to its growing list of supported protocols for Zircuit Staking. Users can now stake their $weETH to earn Zircuit Points. EtherFi is the leading liquid restaking protocol with over $1.88B TVL, according to DefiLlama. Other protocols in the program include Lido Finance, Renzo Protocol, Swell Network, Kelp DAO, and Liquid Collective. More integrations are expected to follow in the coming weeks.

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 Zircuit points on top of any staking yield or other existing points. 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, so ETH isn't hard-locked like in Blast or Mantle. 

With over 135K Twitter followers and 149K Discord members, Zircuit has quickly become a strong force in the L2 scaling race. Other layer 2 solutions have taken much longer to attain the numbers that Zircuit has reached in a short few months. It took Starknet, which launched in 2018, over 6 years to reach the numbers Zircuit has attained. At the time of writing, Starknet has $174M TVL, 328K Twitter followers, and 184K Discord members, according to DefiLlama. 

After spending over a year and a half conducting L2 research, the Zircuit team decided to develop a rollup that aims to solve underlying security issues in rollups. Zircuit is a modular zero-knowledge rollup with AI-enabled security at the sequencer level. Zircuit brings sequencer-level security (SLS) with minimal impact on principles such as censorship resistance or data permanence. This means that Zircuit’s low-level services will constantly monitor the mempool for malicious transactions, blacklisted addresses, exploit contracts, and more. Once detected and verified as malicious, Zircuit can prevent their inclusion into the next block. 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, please visit: https://stake.zircuit.com/

This post is commissioned by Zircuit and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.