Zircuit Secures Mainnet Funding Round with Contributions from Binance Labs, Mirana Ventures, and Others, According to Chainwire

George Town, Cayman Islands, July 22nd, 2024

Zircuit, an EVM-compatible ZK rollup featuring AI-driven sequencer level security, has announced the successful completion of a Mainnet funding round. Participants in this funding include Binance Labs, Mirana Ventures, Amber Group, Selini, Robot Ventures, Nomad Capital, Borderless Capital, as well as notable angel investors who are founders of various prominent blockchain projects. This new funding will help accelerate ecosystem growth and boost activity within its network, complementing a strong technical foundation and over $2.9 billion in staked assets.

Since its inception in 2022, the Zircuit team has developed a new layer 2 network that employs an innovative approach to on-chain security. The platform safeguards decentralized applications (dApps) and their users from blockchain vulnerabilities through advanced infrastructure fortified by sequencer-level security and automated AI mechanisms designed to protect against exploits and malicious threats. The hybrid architecture of the network facilitates a fast, cost-efficient, and fully EVM-compatible ZK rollup, ensuring top-notch security for its users without sacrificing speed or compatibility.

With its robust security framework, Zircuit plans to position itself as a key hub for restaked assets, offering unmatched security while allowing users to earn industry-leading yields. The area of liquid restaking is still developing and continuously evolving, presenting challenges for users to monitor and select the most secure protocols for their investments. Zircuit aims to simplify this process by becoming a central liquidity platform for restaked assets (including ETH, BTC, LSTs, and LRTs) where users can confidently allocate their capital knowing it’s directed toward the safest and highest-quality protocols.

"At Binance Labs, we support projects that are driving innovation in Web3 and enhancing the blockchain ecosystem," said Yi He, Co-Founder of Binance and Head of Binance Labs. "With its integration of sequencer-level security, Zircuit is delivering a more secure layer 2 solution, and we look forward to its continued growth."

"Security issues have been a persistent challenge in the crypto space, with breaches happening almost daily," noted Erick Zhang, Managing Partner of Nomad Capital. "Zircuit, led by top security experts, stands at the forefront with its industry-leading security architecture. The team’s clear growth strategy has resulted in substantial increases in asset locking since launch, and we are thrilled to support the Zircuit team."

"As the Web3 sector moves towards mainstream adoption, Zircuit will facilitate this growth by providing the infrastructure needed to onboard new users," stated Martin Derka, co-founder of Zircuit. "Our extensive research into rollups and blockchain security has enabled us to develop a layer 2 network with unmatched security and scalability. We are proud to have the backing of Binance Labs, Mirana Ventures, and our other investors as we prepare for the initial phase of Mainnet and establish Zircuit as a foundational player in the industry."

Zircuit is set to launch Mainnet Phase 1 in the upcoming weeks.

About Zircuit
Zircuit is a ZK rollup designed with AI-enabled sequencer-level security and parallelized circuits. Developed by a team of Web3 security experts and PhDs in fields such as computer science, algorithms, and cryptography, Zircuit merges high performance with optimal security.

For more information, contact Jessica from Zircuit at [email protected].