Zircuit Completes Mainnet Funding, Receives Support from Well-Known Investors including Binance Labs and Mirana Ventures

24-07-23 09:30

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Original source: Zircuit

Zircuit, a fully EVM-compatible zero-knowledge proof ZKrollup technology platform with AI-driven sequencer-level security, announced today the successful completion of its mainnet financing round. The financing was participated by well-known investment institutions such as Binance Labs, Mirana Ventures, Amber Group, Selini, Robot Ventures, Nomad Capital, Borderless Capital, and outstanding angel investors such as the founders of projects such as Renzo, Etherfi, Pendle, Parallel, LayerZero, Axelar, F2Pool, Nonce, KelpDAO, ETHGlobal, Maelstrom, etc. The injection of funds will help Zircuit promote the rapid development and activity of the ecosystem on its network, further consolidate its technical foundation, and leverage the more than $2.9 billion in staked assets to achieve broader development prospects.

Since 2022, the Zircuit team has developed an innovative L2 network with breakthrough on-chain security technology. The network uses advanced sequencer-level security measures and embedded automated AI technology to build a line of defense for dApps and their users, effectively defending against blockchain vulnerabilities, smart contract flaws, and the threat of malicious attackers. Zircuit's hybrid architecture design not only ensures the speed and cost efficiency of transactions, but also achieves full compatibility with EVM. This ZK rollup solution brings top-level security to users without sacrificing speed and compatibility.

Relying on its superior security architecture, Zircuit aims to create a security-leading asset re-pledge platform that enables users to directly obtain the highest returns in the industry. Although the liquidity re-staking track is still in its early stages and developing rapidly, new LRT protocols are emerging one after another, posing challenges for users in choosing the best and most secure protocols. Zircuit aims to become a major liquidity platform that supports re-staking of assets such as ETH, BTC, LST and LRT, allowing users to easily deploy capital while being confident that their funds are invested in the safest and highest-quality protocols.

Binance co-founder and head of Binance Labs He Yi said: "Binance Labs is committed to supporting projects that innovate in the Web3 field and advance the development of the blockchain industry. Zircuit has created a more secure L2 solution by introducing advanced security measures at the sequencer level. We are full of expectations for its future growth and further development."

Nomad Capital Managing Partner Erick Zhang said that security has been an ongoing issue in the crypto space, with breaches occurring almost every day. Founded by top security experts, Zircuit is leading the industry with its best-in-class security architecture. The team's clear growth strategy has led to explosive growth in locked assets since its launch, and we are pleased to support and continue to work with the Zircuit team.

Zircuit co-founder Martin Derka said: "With the rapid adoption of Web3 technology, Zircuit is committed to providing critical infrastructure to facilitate this trend and enable more people to easily access it. With our in-depth research in rollup technology and blockchain security, we have built a L2 network that is leading in security and scalability. We are deeply honored to have the support of well-known investors such as Binance Labs and Mirana Ventures, which lays a solid foundation for our upcoming mainnet phase 1, and we expect to make Zircuit a benchmark in the industry."

Zircuit's mainnet phase 1 is expected to launch in the coming weeks.

To learn more about Zircuit, visit the project's official website or read the developer documentation.

About Zircuit

Zircuit is a ZK rollup with AI-powered sequencer-level security and parallel circuits. Carefully built by a team of experienced Web3 security experts and PhDs in computer science, algorithms and cryptography, Zircuit's innovative architecture perfectly combines excellent performance and security. To learn more, visit the official website or follow us on Twitter @ZircuitL2.