What is Zircuit?

What is Zircuit?

Zircuit is a Layer 2 blockchain designed to enhance the efficiency and security of decentralized applications. With a focus on restaking protocols and full EVM compatibility, Zircuit employs a unique hybrid architecture involving zero-knowledge proofs with robust L2 frameworks. The result is faster transactions, reduced fees, and heightened security. Trusted by thousands, the platform peaked at $3.7 billion TVL — several times more than all of its direct competitors combined.

Zircuit utilizes AI-driven security at the sequencer level and proactively monitors and blocks malicious activities for a secure environment for developers and users. Recently, Zircuit reached a milestone with the launch of Mainnet Phase 1, opening the ZRC token claim for its Season 1 airdrop, rewarding early participants, with more incentives planned for Season 2. Additionally, the project introduced the Zircuit Mainnet Festival - an event with a 20 million ZRC price pool.

‍

How Does Zircuit Work?

Zircuit operates as an EVM-compatible ZK-rollup and combines zero-knowledge proofs with Optimism’s Bedrock framework to process transactions off-chain while maintaining Ethereum compatibility. Here’s a more technical breakdown of how Zircuit works:

• AI-Enabled Security: At the sequencer level, Zircuit employs AI security software to monitor and prevent malicious transactions within the mempool.
• Modular Architecture: Combines zero-knowledge proofs with Optimism’s Bedrock framework, leading to increased efficiency and EVM compatibility.
• Sequencer System: Acts as an off-chain component by determining the sequence and batch submissions of transactions to Ethereum for complete data availability.
• Cutting-Edge Performance: By decomposing circuits and aggregating proofs (template proofs), Zircuit handles larger transaction batches and speeds up proof processing.
• Ethereum Application Compatibility: Supports all major Ethereum tools and wallets, allowing the seamless deployment of dApps without needing new programming skills.

‍

Zircuit Token (ZRC) Airdrop and Tokenomics

The Zircuit ZRC airdrop and tokenomics are designed to incentivize participation and support the ecosystem's growth.These tokens are strategically distributed over time to ensure the sustainable growth of the network and its ecosystem.

The current ZRC token allocation looks like this:

• Season 1 Airdrop: 7% of the total ZRC supply is allocated to Season 1 participants, with a snapshot taken to identify eligible addresses.
• Future Airdrops & Community Rewards: An additional 14% of the total supply is reserved for future airdrops and community incentives, encouraging continued engagement with the platform.
• Ecosystem Development: 17.93% of the tokens are set aside to support ecosystem growth, innovation and project development within the Zircuit network.
• Foundation and Team: The foundation holds 18.7% of the supply, while the team receives 18.74%, ensuring ongoing development and operational sustainability.
• Investors: only 11.02% of the total supply is allocated to investors

Please note that the information regarding the ZRC token will be updated as the token generation event (TGE) approaches. Until then, the coins will remain non-transferable.

‍

Zircuit Mainnet Festival

The Zircuit Mainnet Festival marks the launch of Zircuit's Mainnet Phase 1 by rewarding users with 20,000,000 ZRC tokens for participating in network testing. Users can earn at least 125% in ZRC for all ETH spent on gas fees, maximizing their rewards. Participants also have the chance to win a super prize of 100,000 ZRC. The festival aims to boost community participation and network activity, offering users a rewarding experience while exploring the Zircuit ecosystem.

‍

Zircuit Staking

The Zircuit staking program is designed to reward users and communities that help bootstrap day-one liquidity to Zircuit. Participants earn Zircuit Points by staking assets like Ethereum, liquid staking tokens (LSTs), and liquid restaking tokens through platforms like Lido Finance, EtherFi, and EigenLayer. Those who opt-in to migrate their assets to the Zircuit Mainnet upon launch receive the most rewards.

Zircuit's yield is measured as annual percentage rate (APR) and it comes from native staking APR, Zircuit Points, and additional yields from tokens like LRTs, distributed on a pro-rata basis. Staked assets remain untampered, with users having the option to migrate to the Zircuit Mainnet or withdraw their investments along with earned points and yields.

‍

Zircuit Points

Zircuit Points are an essential part of the Zircuit staking program, incentivizing user engagement and providing rewards within the ecosystem. Users can earn more Zircuit Points by depositing a variety of tokens, including ETH, wETH, swETH, rswETH, rsETH, ezETH, and many others, each contributing to the staking pool's liquidity.

Additionally, Zircuit offers a referral program where users can earn 15% of the points accrued by their referred friends, enhancing community growth and engagement. Points are converted into ZRC tokens.

‍

Founders

Martin Derka, Zircuit's co-founder, has actively participated in the Web3 space since 2017. He brings his extensive experience in software engineering and holds a PhD in algorithms and complexity from the University of Waterloo. Before founding Zircuit, he worked for a leading security company in the blockchain industry, where the concept of Zircuit began as an intellectual exercise aimed at solving Ethereum's scalability issues using zero-knowledge rollup technology.

‍

Bottom Line

Zircuit is the the dominant Layer 2 network with a priority on security. Its innovative AI-driven approach tackles common vulnerabilities in the crypto space head-on, which has drawn in a large community and billions in deposits. Additionally, Zircuit has consistently hit its quarterly roadmap targets, proving that the team can deliver on its promises.

The recent mainnet launch and the hype around the ZRC token are only adding benefits to the DeFi following that the project has garnered.