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Ethereum’s New Layer 2 Network Surpasses $128 Million in Deposits in Just One Day

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Discover the latest news on how the new Layer 2 Ethereum network has surged past $128 million in deposits in just 24 hours. Stay informed with DL News for all the important updates on this exciting development.



A new Ethereum Layer 2 network, Zircuit, is making waves in the crypto world by allowing users to stake restaked, staked Ether. This innovative network has already attracted over $128 million in deposits within just 24 hours of opening deposits, thanks to backing from big-name investors like Pantera, Dragonfly Capital, and Maelstrom.

Zircuit sets itself apart with its unique feature called “sequencer level security,” which monitors the blockchain for malicious transactions and prevents them from being included in blocks. This proactive approach to security gives users peace of mind and protects their assets from potential hacks.

Currently, deposits are held in a smart contract on Ethereum, with the option to migrate to the Zircuit mainnet when it goes live or withdraw without penalties. In the meantime, users can earn yield and points on their deposits, including Ether staking yield, EigenLayer points, liquid restaking protocol points, and Zircuit points.

For those interested in testing the waters, Zircuit’s testnet is already live, allowing users to experiment before the mainnet launch. EigenLayer, a protocol aimed at extending Ethereum’s security to other blockchain networks through restaking, is set to launch its mainnet in the second quarter.

Zircuit accepts deposits in various forms, including Ether, staked tokens like stETH, and liquid restaking tokens such as ezETH, rswETH, rsETH, and LsETH. Points earned through these deposits precede a potential airdrop and can be traded on platforms like Whales Market.

Overall, Zircuit’s disruptive approach to staking restaked, staked Ether is garnering attention and investment. With its innovative security features and potential for additional yield, this network is poised to make a significant impact in the Ethereum ecosystem.

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