Friday, November 22, 2024

Zircuit Attracts Extra Than $1B In Pre-Mainnet Deposits Over Six Weeks

Factors and restaking farmers are directing their consideration towards the little-known L2.

Zircuit, an Ethereum Layer 2 community, has quietly amassed greater than $1 billion price of ETH and Ether staking derivatives simply six weeks after opening its doorways to deposits.

In keeping with Dune Analytics, 333,839 Ether price of ETH, liquid staking tokens (LSTs), and restaking tokens (LRTs) have been deposited to the challenge, price $1.11 billion at present costs. The community additionally holds greater than $45.9 million price of stablecoins, principally comprising Ethena’s yield-bearing USDe token.

Zircuit launched its factors marketing campaign on Feb. 24, permitting customers to stake ETH and Ether staking derivatives in trade for incomes Zircuit Factors — that are anticipated to qualify holders for a future airdrop — along with the yield and factors gathered by the deposited property.

The challenge adopted up with its “Construct to Earn” program on March 27, incentivizing builders to construct infrastructure, tooling, or deploy dApps to Zircuit’s testnet — which went reside in November.