What is Zircuit Staking? Reaches $500 Million TVL, Proving Investor Confidence

Bittime - Looking for a safe and easy way to increase your crypto portfolio? Zircuit Staking comes as an innovative solution that offers high returns and access to the world of decentralized finance(DeFi).

What is Zircuit Staking?

Zircuit Staking is an innovative program that allows users to earn rewards in the form of Zircuit Points by depositing ETH, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs). 

This program has advantages over regular staking because apart from being rewarded for staking from deposited crypto assets, users can also get Zircuit Points. 

Users who choose to move their assets to Zircuit Mainnet at launch will get the most rewards.

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Benefits of Zircuit Staking

• High APY: Zircuit Staking offers high APY for ZRC stakers. This APY varies depending on the staking duration and the number of ZRC tokens staked.
• EIG Rewards: Apart from ZRC, stakers can also earn EIG rewards. EIG is a utility token used to access various services on Ethena, a leading DeFi platform.
• Security: Staking helps increase the security of the Zircuit network by validating transactions. Stakers who find invalid blocks will be punished by losing some of their ZRC tokens.
• Scalability: Staking helps increase the scalability of the Zircuit network by allowing more transactions per second. The more ZRC tokens are staked, the greater the network scalability.
• Access to Ethena: The Ethena integration allows Zircuit stakers to gain access to various DeFi services on Ethena, such as lending, yield farming, and token swaps.

Also Read How to Buy Crypto:

Will Zircuit Staking Reach $500 Million TVL?

According to Foresight News, the Total Value Locked (TVL) in the Zircuit staking program has exceeded $500 million.

Currently, Zircuit is in the testnet stage, with mainnet expected to launch in late 2024.

In the future, Ethena will be integrated and add more supporting protocols for Zircuit staking.

Additionally, users who stake USDe on Zircuit will receive Zircuit points and seven times the Ethena points. Other protocols in the program include Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.

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Conclusion

Zircuit Staking is an innovative staking program that offers high returns, security, scalability, and access to DeFi services.

If you want to earn passive income from your ZRC tokens and help improve the security and scalability of the Zircuit network, then Zircuit Staking is the right choice for you.

Zircuit Staking FAQ

1. What is TVL in Zircuit Staking?

TVL (Total Value Locked) is the total value of assets locked in the Zircuit staking program. The higher the TVL, the greater investor confidence in the Zircuit Staking platform.

2. What is EIG?

EIG is a utility token used to access various services on Ethena, a leading DeFi platform. Zircuit stakers can earn EIG rewards in addition to their ZRC rewards.

3. What services are available at Ethena?

Ethena offers a variety of DeFi services, such as:

• Loans: Users can borrow crypto tokens against the collateral of their crypto assets.
• Yield Farming: Users can stake their crypto tokens to earn interest.
• Token Exchange: Users can exchange crypto tokens for other tokens.

4. How do I get access to Ethena?

Zircuit stakers can access Ethena by connecting their Zircuit wallet to the Ethena platform.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC) ,  Ethereum (ETH ) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is Bitcoin Halving and How Does It Affect Bitcoin?

Tesla and SpaceX Own $1.3 Billion in Bitcoin, Will BTC Prices Continue to Rise?

What is Staking?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.