On October 31, 2024, Layer 2 project Zircuit officially announced the distribution of ZRC tokens to holders and stakers of EigenLayer tokens (EIGEN) through a program they call a “fairdrop.” Through this fairdrop, Zircuit aims to encourage broader participation in their ecosystem by prioritizing fair distribution across the Ethereum community, regardless of token holdings.
Fairdrop ZRC Distribution for EigenLayer Users
Zircuit’s approach to this fairdrop has attracted attention due to its innovative design. The fairdrop allocates an equal amount of ZRC tokens to each EIGEN holder, regardless of their individual token holdings. On October 8, 2024, Zircuit conducted an on-chain snapshot, recording roughly 190,000 addresses with a minimum of three EIGEN tokens to participate in this distribution.
This fairdrop provides an equal opportunity for all EIGEN holders without requiring substantial holdings. Zircuit explained that this approach acknowledges the contributions of all EigenLayer participants, both small and large stakeholders.
Furthermore, Zircuit hopes this program will spark discussions on fairness and inclusivity within the Ethereum community. Martin Derka, a co-founder of Zircuit, stated, “This fairdrop is a first step towards recognizing all levels of contribution from Ethereum stakers.”
Zircuit’s Rapid Growth within the Ethereum Ecosystem
Since its inception, Zircuit has gained significant attention with its innovative programs and substantial growth. Launched with pre-mainnet staking in February 2024, Zircuit introduced its “Build to Earn” program in March 2024 to incentivize developers.
In its initial phase, Zircuit allowed users to stake ETH, liquid staking tokens (LSD), or liquid restaking tokens (LRT) to earn points, which boosted the project’s total value locked (TVL) to over $1 billion within the first six weeks. At its peak, Zircuit’s TVL reached $3.7 billion by the end of May 2024 and now stands at $1.58 billion, according to DeFi Llama.
On August 5, 2024, Zircuit launched its mainnet’s first phase, enabling developers to build applications on the main network and allowing users to bridge ETH to the network and claim airdrops for Season 1 staking participants.
With its focus on transparency and equity, Zircuit is expected to continue strengthening its impact within the Ethereum ecosystem, offering broader participation opportunities for users at all levels.
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