Zircuit’s TVL Surpasses $200 Million Amidst Staking Surge

Zircuit, the EVM-compatible Zero-Knowledge rollup, has experienced a recent surge in total value locked (TVL) as they open their staking window.

Following last week’s staking window opening, the EVM-compatible Zero-Knowledge rollup Zircuit’s total value locked (TVL) soared beyond $200 million. Zircuit is taking advantage of the growing interest in restaking protocols, which has led to EigenLayer’s meteoric development, and this milestone occurs at the same time. First place went to Kelp DAO with 19,000 rsETH over the weekend, second to Renzo Protocol with 15,500 ezETH, and third place went to rswETH and LsETH, both from Swell Network and Liquid Collective, with a combined total of 12,000.

Staking assets directly on EigenLayer or Zircuit is now possible for liquid-staking token (LST) holders, allowing them to actively participate in the economic security of the network. Traditional liquid staking involves players receiving reception tokens in exchange for staking assets through a staking service provider. This is in contrast to this.

Over the past month, protocols such as Kelp DAO, Renzo, Etherfi, Puffer Finance, and others have seen an increase in deposits due to users’ growing interest in restaking programs.

One of the top liquid restaking platforms, Kelp DAO has over $500 million in EigenLayer assets and allows users to liquid restake both the main Ethereum coin, ETH, and the Ethereum LSTs.

Within the EigenLayer ecosystem, Renzo acts as a Liquid Restaking Token (LRT) and Strategy Manager, having amassed deposits of a comparable quantity. As the intermediary, it guarantees the safety of Actively Validated Services (AVSs) and provides a better return than ETH staking. Binance Labs, a venture capital firm, backed Renzo last week, and the cryptocurrency exchange plans to use the money to further its growth.

Staking Program at Zircuit

Users and communities that help build Zircuit’s first liquidity will be recognized and rewarded through the staking program.

Users can earn Zircuit points, on top of staking rewards and other existing points, by taking part in the staking activity. You can earn 1x the number of Zircuit points as ETH for all liquidity staking and liquid restaking tokens, including ezETH from Renzo, rswETH from Swell, rsETH from Kelp, Liquid Staked ETH, and stETH from Lido. In addition, by filling out invitation forms and submitting the invitation code, users can receive 15 points.

When the Zircuit mainnet is live, users will be able to move their assets across, increasing their chances of receiving awards or taking their money out whenever they like while keeping all of their points and profits.

Zircuit’s rapid growth shows how liquid restaking is becoming more popular, which is good news for Ethereum holders.