The Ethereum Layer 2 network Zircuit has surpassed $1 billion in pre-mainnet deposits within just six weeks, with 333,839 Ether and various staking tokens, including Ethena’s USDe token. The project initiated a points campaign and a “Build to Earn” program to incentivize users to stake assets and developers to create dApps. Zircuit operates as a hybrid rollup and is fully compatible with the Ethereum Virtual Machine, allowing for faster transactions and lower fees through compression techniques. The project has received grants from the Ethereum Foundation to further its research on rollup compression and scaling cryptography, showcasing its commitment to Ethereum’s scalability.
Zircuit’s rapid growth in the pre-mainnet phase is comparable to that of Blast, another prominent Layer 2 network developed by the team behind Blur. Blast became the third-largest Layer 2 network with a TVL exceeding $2 billion upon its mainnet launch, attracting substantial deposits by offering points in addition to native rewards. Ethereum’s Layer 2 ecosystem has seen significant expansion over the past year and a half, with a total TVL exceeding $36.7 billion. Layer 2 networks are now processing more transactions than the Ethereum mainnet, with Arbitrum leading the market share at 49.17%.
The Layer 2 network Zircuit has garnered over $1 billion in pre-mainnet deposits in a short amount of time, with a significant amount of Ether and various staking tokens. The project has implemented points campaigns and a program to incentivize users and developers, operating as a hybrid rollup and fully compatible with the Ethereum Virtual Machine. Zircuit’s focus on compression techniques for faster transactions and lower fees, along with grants from the Ethereum Foundation, demonstrates its commitment to scalability and efficiency within the Ethereum ecosystem.
Blast, another popular Layer 2 network, saw rapid growth upon its mainnet launch, attracting substantial deposits and becoming the third-largest network with a TVL surpassing $2 billion. The Layer 2 ecosystem as a whole has exploded in growth, with a total TVL exceeding $36.7 billion and Layer 2 networks processing more transactions than the Ethereum mainnet. Leading networks like Arbitrum are dominating the market share, showcasing the increasing adoption and success of Layer 2 solutions in the Ethereum ecosystem.
Zircuit’s rapid growth in pre-mainnet deposits is a testament to its popularity and success within the Layer 2 ecosystem, with a focus on compression techniques, points campaigns, and developer incentives. The project’s compatibility with the Ethereum Virtual Machine and grants from the Ethereum Foundation further highlight its commitment to advancing Ethereum’s scalability and efficiency. As Layer 2 networks continue to expand and dominate the market share, projects like Zircuit play a crucial role in the ongoing evolution and success of the Ethereum ecosystem.
