Binance Labs invests in Layer-2 network developer Zircuit
Binance Labs has announced capital injection into Zircuit - a Layer-2 solution using Sequencer Level Security.
On the afternoon of June 11, venture capital fund Binance Labs announced its investment in Zircuit - a Layer 2 solution using Sequencer Level Security to help Zircuit develop and expand its ecosystem.
Binance Labs' investment in Zircuit took place before the project's official mainnet in July. The investment amount and other terms of the deal were not disclosed. Zircuit is also backed by two other "stalwart" investment funds, Pantera Capital and Dragonfly.
Zircuit is a Layer 2 project based on the ZK-Rollups model, fully compatible with the Ethereum Virtual Machine (EVM). This project is developed based on Layer 2 research to create a model that combines the advantages of Optimistic Rollups and Zero Knowledge Proof to provide maximum support to developers using both models.
Zircuit co-founder and former Quantstamp CEO Martin Derka asserts that Zircuit's key differentiator is Sequencer Level Security.
“In Zircuit, similar to other rollups, transaction ordering is the responsibility of the sequencer. However, before the sequencer sorts transactions into blocks, Zircuit carefully reviews the transaction's impact. The project uses AI to check whether each transaction is intended to attack the network or not. Suspicious transactions will not be added to the block.”
The main goal of Sequencer Level Security is to detect vulnerabilities and prevent them before they happen, Derka explains:
“Thus, Zircuit creates a safer environment for both developers and trading users.”
The project has attracted more than 3.31 billion USD TVL at the time of writing, just 2 months after TVL exceeded 2 billion USD. Previously, Zircuit's TVL skyrocketed to 140 million USD after just 1 day of launch.
Zircuit's "Build to Earn" program has attracted more than 1,100 applications with partners including prominent projects such as Ethena, Renzo, Ether.fi, Kelp DAO, Elixir, Ambient, Pendle, LayerZero. In the near future, the project will launch the "Gas Mining" program to prepare for the Mainnet event this coming July.
