Coin overview
SWELL
Ended--
Last price (USDT)
174.63K
24h total (USDT)
435.65K
Total vol (USDT)
2024-07-31 10:00:00 ~ 2024-11-07 09:30:00
Trading time (UTC+0)
2024-11-07 14:00:00
Delivery time (UTC+0)
Total supply10.00B
Resources
Introduction
Swell Network is a non-custodial, liquid ETH staking protocol built for stakers, node operators, and the Ethereum ecosystem. Users can stake ETH to receive swETH and earn DeFi yields. SWELL total supply: 10 billion tokens
Deep Dive | June 9th
Activity is surging on Swellchain with over 3 million transactions in just 8 days. Much of this is down to the popularity of Drift Pass by Intraverse, along with other newly launched protocols such as Orki Finance. Keep reading for all the latest from the Swell ecosystem. 🌊⛓️ Swellchain Updates Intraverse launches Kart Racers III Kart Racers III is live on Swellchain, Taiko, and Apecoin. 3 chains. 70+ teams. $20K+ in rewards. Join the race: http://play.intraverse.io The Graph integration Swellchain has joined the decentralized data layer powering web3. Developers building on Swell can now query blockchain data using Subgraph Studio, powering everything from onchain coordination to AI-enabled dapps. wstETH is now on Swellchain Bridge your wstETH to Swellchain using Superbridge, and continue earning staking rewards while exploring onchain DeFi opportunities through the Swell Portfolio. Bridge wstETH to Swellchain Orki Finance is live on Swellchain Orki is a permissionless credit and stablecoin protocol built on Swellchain using Liquity V2’s battle-tested architecture. As Swellchain’s native stablecoin, $USDK – backed by yield-generating assets like swETH and rswETH – represents a significant advancement in how users can interact with their staked assets through Orki. Mint $USDK on Orki Swellchain Joins Radius’ Alpha Engine Swellchain is one of the first rollups joining Alpha Engine, a modular growth platform combining three key primitives: MEV revenue, shared security, and cross-rollup interoperability. Radius Secure Block Building (SBB) will protect Swellchain users against frontrunning and capture sustainable MEV revenue. The Relend Mechanism is live on Swellchain Borrowing demand on Swellchain now generate additional yield for USDC depositors in the Morpho Relend vault. Bridge to Swellchain 🏗️ Swell City Buildathon winners From automated gas fee redistribution to AI-powered asset management and ecosystem analytics, an incredible group of builders came together during our first Buildathon on TAIKAI to shape the future of restaking, AI, and DeFi with Swell. Check out the winners of the Swell City Buildathon 🌴 Swell Beach Club Join us every Thursday 1pm UTC in the Swell Discord to take part in Game Nights. Whether you’re a gamer, casual Swell surfer, or just here for the vibes, join us and battle it out to earn a share of SWELL rewards. Join the Swell Discord 📟 Announcing Forse Analytics for Swell Forse is now proudly powering analytics and intelligence for Swell’s Wavedrop Rewards Campaign distributed via Merkl. Forse are building actionable insights and in-depth impact analyses to enhance transparency, track incentive effectiveness, and showcase value across Swell’s growth trajectory. Learn more about Forse’s approach and objectives 🎙️Events Orki Launches on Swellchain | Space We were joined by Sam from Liquity, and Bio from Orki, to celebrate the launch of Orki on Swellchain, as well as explore some of the opportunities available with $USDK – Swellchain’s native stablecoin. Read the recap Listen to the recording 💧 Liquidity Dynamic Boosted Strategy on Hermes Deposit Arbitrum WETH and Swellchain WETH into Herme’s new Dynamic Boosted Strategy, powered by TALOS. Deposit liquidity in the WETH/WETH Pool 📣 Top Tweets Transaction count on Swellchain continues to hit new highs Over 100k Transactions on Swellchain Yesterday Up 175% from Yesterday Up 2408% from this time last month The surf is ⬆️ on @swellnetworkio 🌊 pic.twitter.com/BkJJLTHZ5N — growthepie.xyz 🥧📏 (@growthepie_eth) May 30, 2025 Dora explores how Swell’s swBTC Vault reflects Gauntlet’s multi network view on how to optimize restaked BTC without overexposure. ₊˚⊹Vault of the Day₊˚⊹⋆ @Gauntlet x @swellnetworkio swBTC Vault˚⊹⋆ Today’s vault brings restaking to BTC. Read details below about this @symbioticfi vault. This vault reflects Gauntlet’s multi network view on how to optimize restaked BTC without overexposure. ꒰ᐢ.… pic.twitter.com/RHEzekt9mR — Dora (@SearchOnDora) May 13, 2025 Join the Swell Community Expect to receive your next edition of the Swell Deep Dive in three weeks. Until then, stay up to date by joining us in Discord and following us on Farcaster , Twitter and DeBank .
New Tokenomist Report: 2024’s Low-Funded Crypto Launches Delivered Top Returns
A new Tokenomist report shows 2024’s low-funded crypto launches had top returns. ATH (raised $9M) gave a 24.5x return; ZK (raised $458M) is at <0.5x value. Investors are now watching for token unlocks for these projects from June to November. A new analysis from Tokenomist released today, June 6, has identified last year’s major token launches that identifies a sharp divide between their massive fundraising and actual investor returns. The report, which covers ten major 2024 projects like ZK, ATH, and Swell that collectively raised over $1 billion, shows that a few of the most successful investments came from projects with the least initial funding, whereas the largest raises left investors deep underwater. The impressive aspect of ATH is that it attracted just $9 million in investments, yet its Investor fully diluted valuation now stands at $221 million, equivalent to a 24.51x return. Swell, which has just raised $3.75 million, now has an Investor FDV of $24.22 million, providing a 6.45x return. IO and Blast likewise managed to get at least a 4x return with an investment of $30 million or less. High Funding, Low Returns: Some Projects Fail to Deliver At the other end of the spectrum, some of the projects with the highest funding have delivered poor returns so far. ZK, for example, received a massive $458 million in funding, but its Investor FDV is now priced at less than half its initial value. Similarly, SCROLL and AVAIL are also struggling to meet expectations, with current returns sitting at just 0.61x for SCROLL and 0.65x for AVAIL. Source: X These projects raised a lot of money before launching, yet they still haven’t met the expectations of their investors. The fact that their performance suffers despite investments proves that raises do not always result in stronger returns. Small Investments, Big Returns: How Limited Capital Drives Success The Tokenomist analysis clearly highlights that projects can achieve significant success with more limited initial capital. The impressive returns from ATH and Swell, for instance, came from relatively small raises. Likewise, the report notes that IO, Blast, and Cloud also delivered strong results for their early investors from fundraising rounds of less than $30 million each. These examples demonstrate that smaller, targeted capital raises can still yield substantial rewards for projects and their backers. Upcoming Token Unlocks Investors are also now watching a series of upcoming token unlocks , scheduled between June and November 2025. These events often introduce new market volatility as a large new supply of tokens becomes available to be traded. Related: June Token Unlocks Top $3.2 Billion: Altcoins SUI, APT, ZRO Brace For Volatility Several of the analyzed projects have unlocks scheduled soon. ZK , ZRO, Blast, and ATH are scheduled for unlocks in June, followed by Avail, Cloud, and IO in July. Later in the year, Eigen, Scroll, and Swell are scheduled to unlock tokens between October and November. These approaching dates will likely have investors reevaluating their portfolio strategies in anticipation of increased supply and potential price shifts. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Bitcoin Analysis: Corporate Treasuries Swell as On-Chain Activity Points Upward
Public companies like MicroStrategy and Galaxy Digital now hold over 650,000 BTC combined. On-chain metrics show record wallet creation and coin circulation, with institutions buying above $90K. Technicals show RSI nearing neutral and MACD momentum declining, suggesting short-term caution. Bitcoin’s consolidation just above the $104,500 mark is being underpinned by a powerful trend: growing corporate adoption of the digital asset. Leading the charge is Strategy (MSTR), which now holds 580,250 BTC, establishing itself as the ultimate corporate bellwether for Bitcoin investment. Other notable institutions increasing their Bitcoin reserves include: XXI (CEP): 31,500 BTC Galaxy Digital (GLXY.TO): 12,830 BTC Block, Inc. (XYZ): 8,584 BTC MetaPlanet (3350.T): 7,800 BTC The top five alone account for over 640,000 BTC. The trend spans industries, from tech and finance to retail, illustrated by holdings from Next Technology Holding Inc. (5,833 BTC) and even GameStop Corp. (4,710 BTC). Related: Deaton Predicts Elon Musk Will Buy More Bitcoin After Spending Bill Sparks Fury On-Chain Activity Supports Bullish Long-Term Case This increasing institutional appetite for Bitcoin is mirrored by rising on-chain momentum. On May 29, over 556,830 new BTC wallets were created, the highest daily tally since December 2023, according to Santiment. Meanwhile, June 2 saw a spike in Bitcoin circulation, with over 241,000 BTC moved, the most since December 8, 2024. Glassnode’s URPD data shows significant accumulation above $90,000, with most activity led by wallets holding 100 to 10,000 BTC. This clear “institutional skew” suggests confidence in the current price range. Large whales–holders of 10,000 to 100,000 BTC–show clustering around $78K to $90K, as well as the current levels, further reinforcing this view. Technical Analysis: RSI Neutral, MACD Bearish but Stabilizing As per below’s daily chart, Bitcoin’s RSI stands at 50.75, nearly neutral, while its signal line is higher at 57.71, indicating a slight bearish divergence. This suggests that momentum is cooling, but not yet oversold, leaving room for either consolidation or a rebound if bullish catalysts return. Source: TradingView The MACD tells a similar story. The MACD line is at -866, significantly below the signal line at 2,027, pointing to bearish momentum. However, histograms are flattening, indicating that the selling pressure may be slowing. Related: Crypto Trader James Wynn’s $100M Peak Fortune Decimated in “$25M+ Matrix Attack” Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Deep Dive | May 14th
The Swellchain ecosystem is growing fast. Stablecoin liquidity protocol Relend is the latest to join the chain, and will soon be joined by Orki along with OG staking token wstETH from Lido. Meanwhile, daily transactions on the network recently hit an all-time-high at 68,000. Behind the scenes, Swell core contributors are cooking up something completely new. Stay tuned for more news on that soon! 🌊⛓️ Swellchain Updates Orki approaches launch CDP protocol Orki is expected to launch on Swellchain on May 15th. Deposit LRTs as collateral and mint the stablecoin $USDK. Join the pod in Discord for opportunities to earn merch and early participant rewards. https://discord.com/invite/QeZPyqE6VB Swellchain Quarterly Report The Q1 report highlights the growth Swellchain has made since launching in Q4, 2024, exploring the key takeaways from Q1 and where we’re headed in the future. Read Swellchain’s Q1 Report EGP cross-chain bridge Eigenpie’s $EGP cross-chain bridge is live on Swellchain. Eigenpie users can now move their $EGP seamlessly between Arbitrum and Swellchain through the bridge on their dApp. Bridge today Relend Network Relend’s $rUSDC brings more stablecoin liquidity to Swellchain with the first Stablecoin Money Market on Euler. The protocol launched to a waiting audience, with the initial borrow cap on EulerFinance quickly hit by Swellchainers seeking yield on USDC. Explore the $rUSDC strategies on Swellchain Swellchain is live on Jumper Seamlessly bridge ETH, WETH, USDe, and more to and from Swellchain with ease! Bridge to Swellchain Pyth Core has deployed on Swellchain Builders on Swell can now integrate 1,400+ real-time price feeds with update fees of 0.00005 ETH. The integration of Pyth Price Feeds provides another essential data source for Swellchain dApps. Intraverse Kart Racers Season III Multichain gaming platform Intraverse has launched on Swellchain, and is kicking off the fun with a Kart Racers tournament. 🎟 Free mint booster collection launching on Swellchain, ApeChain & Taiko 🏁 Tournament Kickoff: Few days after the mint 💰 PRIZES: $10,000+ base prize pot** Formula APE holders incentives + trailblazers prizes! Sign up: https://forms.gle/3zgwHduC9mAfVLCi7 💻 Swellchain Site The brand new Swellchain site is live. Explore dApps, bridges, and ecosystem integrations powering the Swellchain ecosystem. Check out the new site Swell City Buildathon judging The Swell City Buildathon has now concluded. Entries have been judged by representatives from projects including Eigenlayer, Swell, and Mode. Winners will be announced soon! 📦 1,000 $SWELL Bonus The 1,000 $SWELL bonus for claiming $KING on Swellchain has arrived. To be eligible, you must have more than 0.00075 $KING and have selected Swellchain to claim $KING prior to the April 1st snapshot. Claims will be open until July 5th. Claim your $SWELL rewards 🔵 wSWELL Claim Expiry Unclaimed wSWELL earned more than 10 weeks ago (before February 20th) will be reclaimed on May 15th to be redistributed to active Swellchain users in upcoming campaigns. Moving forwards, unclaimed SWELL rewards from campaigns more than 10 weeks old will be reclaimed every month. Claim your wSWELL 💧 Liquidity Velodrome Stable Pools APRs are swelling on Swellchain Velodrome, with $rUSDC and $USDe yields boosted by Swell’s veVELO voting power. Explore opportunities on Velodrome mswETH on Velodrome Bridge and provide liquidity in the new mswETH/ETH pool on Velodrome to earn xVELO rewards. Deposit in the mswETH/ETH pool 📣 Top Tweets LSTMaximalist is triple-yielding on Swell, here’s how… Been following @swellnetworkio since day one, back when they were pioneering liquid staking before it was cool. They were early to the whole gamified points meta too. Black Pearls had folks strategizing like it was DeFi summer all over again. Fast forward to now and they’ve… pic.twitter.com/uf0WlzbJxZ — LSTMaximalist (@lstmaximalist) April 22, 2025 Dive into the highlights from Swellchain in the month of April April was a breakout month for @swellnetworkio ! 🌊 A few quick highlights from the data: 1⃣Monthly Active Users soared (+162% MoM) — a new all-time high! 2⃣Contract deployments shattered previous records (+96% MoM) 3⃣New user growth exploded (+334% MoM) — massive momentum!… — Swellytics (@SwellyticsHub) April 29, 2025 Swellchain transactions hit all-time high New all-time high in activity on the @swellnetworkio L2 chain. In a single day, there were 68,000 transactions. The total number of transactions has now reached 7.9 million. pic.twitter.com/BHfU5Cht6x — Datarun (@Abbas_ra21) May 11, 2025 Join the Swell Community Expect to receive your next edition of the Swell Deep Dive in three weeks. Until then, stay up to date by joining us in Discord and following us on Farcaster , Twitter and DeBank .
Proof of Restake: The Pioneering Mechanism Underpinning Swellchain
Swellchain, the restaking chain, is scaled and decentralized with infrastructure secured by restaking. This will enable the network to overcome the key challenges faced by existing L2s — including scarce liquidity, centralization, and lack of native yield — to drive value creation to new heights. At the core of this network architecture is a pioneering new mechanism: Proof of Restake. Introducing Proof of Restake (PoR) Swell’s Proof of Restake is designed to maximize the utility of staked assets within and beyond Swell’s L2 ecosystem. The mechanism will use liquid restaked assets to secure the protocols providing key blockchain infrastructure and services, which in turn secure the chain. This maximizes the utility and capital efficiency yield of staked assets, makes the community of users direct recipients of the value created on-chain, and sets a flywheel in motion which drives network growth, enhances security, and expands liquidity throughout the ecosystem. Proof of Restake in motion Swellchain will integrate PoR to create a vertically aligned and secure ecosystem, in which staked assets are efficiently reused across multiple layers and chains, and the incentives of all network participants — including validators, node operators, builders, and users — are pulled into alignment. The Proof of Restake flywheel boosts security, deepens liquidity, and rewards participants. 1. Stakers deposit assets Assets staked in Swell are tokenized into liquid restaked tokens (LRTs). These tokens accrue staking rewards while remaining liquid for deployment across infrastructure services, DeFi applications, and cross-chain protocols. Thus stakers can simultaneously secure Swell’s infrastructure while still being able to participate in the ecosystem. 2. On-chain activity drives revenue for network infrastructure and services Restaked assets secure key infrastructure services within the Swell L2 ecosystem, including the validators, relayers, node operators and sequencers that maintain the integrity and functionality of the network. In turn, these services support the network and charge fees. 3. Yield accrues to Swell assets Revenue generated by chain-specific AVS infrastructure on Swellchain — through transaction fees, sequencer fees, and more — cascades down the stack to become native restaking yield for holders of Swell assets. 4. Liquidity deepens and security increases As more assets are deposited and activity on the network builds, dApps benefit from boosted crypto economic security and deeper liquidity — creating a better environment for DeFi and attracting more builders and users. The restaking yield layer stack Why Proof of Restake? Integrating PoR will give Swellchain the characteristics needed to overcome the problems faced by existing L2s, and deliver the best experience for builders, node operators, and users. Modularity With each network function fulfilled by modular and interchangeable AVS and networks, Swellchain core infrastructure can be adapted and upgraded — making the network lean, agile, and progressively more decentralized and performant over time. Ethereum alignment Restaked assets are used to secure key infrastructure components within the network, ensuring that it remains rooted firmly in the security of Ethereum. This helps avoid the multitude of issues — including censorship, single points of failure, and downtime — that stem from the use of centralized infrastructure such as sequencers. Maximal asset productivity Proof of Restake makes Swell L2 users direct recipients of the value their activity creates. Revenue generated by activity on the network — through transaction fees, sequencer fees, and more — cascades down the stack to become native restaking yield for holders of Swell assets. In this way, PoR empowers users to maximize their asset productivity while still contributing to the long-term growth and sustainability of the network. More DeFi innovation Building on liquid restaked assets enables dApps to access new liquidity sources that would otherwise be locked in traditional staking mechanisms. In addition, dApps on Swell L2 can innovate by plugging into infrastructure services — including Zk-coprocessors, decentralized automation, and security protocols — that enable new possibilities for innovation outside the constraints of the EVM, but still firmly rooted in the security of Ethereum. Beyond Swellchain Scaling blockspace by parallelizing the creation of block value to specialized networks secured by a shared set of Swell assets. Rollups are currently developing in groups or clusters based on shared parts of their stack. Proof of Restake enables a new approach in which these interconnected rollups can inherit the security of other chains in the broader network. Blockspace is scaled by delegating consensus to Ethereum and parallelizing the creation of block value to specialized networks secured by a shared set of Swell assets. This lowers the barrier to entry for new chains, with each new specialized rollup joining a system of rollups secured by the same set of robust assets, serviced for sequencing, verification and finality needs by a shared decentralized infrastructure set, and benefiting from pooled native restaking yield. In this way, Proof of Restake enables the propagation of a collective of rollups positioned at the leading edge of Ethereum scalability. Stay tuned for more news on the upcoming launch of Swell L2!
Deep Dive | April 16th
The end of Q1 is a time to reflect on progress, with Swellchain now hosting hundreds of ecosystem integrations including dApps, infrastructure, and analytics platforms—all of which will soon be accessible via a new Swellchain website. In the last two weeks, our hackathon event—the Swell City Buildathon—has begun, and we’ve introduced new functionality to the chain including one click leveraged restaking on Euler. Read on for more information about this and other highlights in your latest Deep Dive. 🌊⛓️ Swellchain Updates Swell City Buildathon The Swell City Buildathon is underway with TAIKAI. Swellchain’s first hackathon is giving builders a chance to compete for $40k in prizes by building next-gen AVS infra, automated trading strategies, or DeFAI tools, across a number of tracks on Swellchain. Register for the Swell City Buildathon OpenOcean is live on Swellchain Access seamless swaps and API onchain, and get the best price for your assets by tapping into liquidity across the ecosystem. Swap assets on OpenOcean Stargate USD₮0 is on Swellchain USD₮0 is a single, unified, Tether-backed stablecoin for the Superchain powered by LayerZero -- which will be later upgraded to Native USD₮0. Seamlessly move USD₮0 across the Superchain ecosystem today via Stargate. 💻 Coming soon: Swellchain website The new Swellchain site will be your one-stop hub for everything Swellchain — from dApps and infrastructure to powerful analytics. But that's not all… it will also give you a glimpse of something we've been quietly building behind the scenes: a brand-new restaking research tool that will give you access to real-time data, breaking news, and deep analytics from across the restaking ecosystem 👀 🕵️ Operation Octuple You can now octuple your rewards on Euler! Euler’s Multiply is live on Swellchain, enabling one-click leveraged restaking. Earn 8x $SWELL for borrowing ETH against rswETH and weETH over the next two weeks. Multiply on Euler 💰 Bonus EIGEN Claims Bonus $EIGEN from the Swell L2 Pre-Launch deposits is now claimable. These tokens represent your share of 1M EigenLayer Points if you deposited in the L2 Pre-Launch during the first 4 weeks, and held until Swellchain’s launch on December 19th, 2024. Claim your EIGEN rewards 💻 Swell x Obol Partnership Swell is partnering with Obol to include Obol Distributor Validators, and opting into the Obol Incentive program to bolster restaking rewards. Integrating with Obol enables Swell to increase the efficiency of liquid restaking, whilst boosting decentralization as we continue to gradually reduce centralization vectors across our node operator set. Learn more about Swell x Obol partnership 🌊 Swell Vaults on vaults.fyi Swell Vaults are now live on vaults.fyi – including integrated strategies powered by Euler. This opens up more opportunities for DeFi users to earn yield, as well as stack rewards from Swell, Tempest, and other ecosystem partners. Explore and allocate to vaults on Swellchain 🎙️ Events Velodrome and King come to Swellchain | Space We were joined by Tao from Velodrome and Joe from King Protocol, to dive into some of the opportunities that are available for KING users on Velodrome. Read the recap Listen to the recording Stargate USDT0 on the Superchain | Stargate Space Kilian joined the teams from Optimism, Soneium, and Mode to discuss what USDT0 is, how it works and the value it brings to the chain. Listen to the recording AVS roundtable summit Catch Kilian and Fabian in Dubai later this month for at the Staking Summit and Token2049. We'll be meeting up with top AVS and hosting an AVS roundtable event for deep discussion on the future of restaking. please enquire in Discord if you wish to attend. 💧 Liquidity Mellow Automatic Management Mellow’s Automatic Management (ALM) toolkit it now live on Swellchain, supporting concentrated Velodrome liquidity pools including rswETH/ETH Learn how to use Mellow ALM for Swellchain pools 📣 Top Tweets Learn how Radius plays into Swellchain’s vision of Proof of Restake Proof of Restake isn't just another scaling solution—it's @swellnetworkio 's thesis to building the most decentralized, trustless L2 that truly aligns with Ethereum's core values In this thread we go into how @radius_xyz is solving the "trusted sequencer problem" that plagues L2s… — ABI | Swell (@AbishekFi) March 27, 2025 Dive into trading insights on Swellchain DEX’s in this thread by The Degen Scope The @swellnetworkio is a chain built especially for earning - Staking, Liquid restaking, providing liquidity, or simply being rewarded for using Swellchain. But how does it fair in other aspects, like trading on DEXs. This is a dive into Trading Insights on SwellChain DEXs. 🧵 https://t.co/41lZI6UAIT pic.twitter.com/y1kdYdYEHD — The Degen Scope 🔭 (@Degen_Scope) April 10, 2025 Join the Swell Community Expect to receive your next edition of the Swell Deep Dive in three weeks. Until then, stay up to date by joining us in Discord and following us on Farcaster , Twitter and DeBank .
Space Recap: Velodrome and King Come to Swellchain
In this Space, we were joined by Tao from Velodrome and Joe from King Protocol to dive into some of the opportunities that are available for KING users on Velodrome. In case you missed it, here are the top questions from the event. What is the vision for Velodrome on Swellchain? Velodrome is a decentralized exchange that has two-sided, full-range liquidity pools, very similar to the ones at Uniswap. You deposit tokens in the pool, and the liquidity provider earns trading fees that the pool generates. At Velodrome, we have an additional emission system where every week, LPs compete for VELO emissions to earn more liquidity by incentivizing pools. Velodrome started on the Optimism mainnet, and as we learned more about Optimism’s vision to create this Superchain environment—making it feel like a single ecosystem—we knew early on that it was a great opportunity for Velodrome to expand to the chains that are part of the Superchain, with Swell being one of the main ones. The way Velodrome interacts with chains on the Superchain is that we have liquidity pools on different networks that receive a version of VELO emissions. In return, they direct fees to voters just as they would on Optimism. It's still in the early stages, but we've seen a lot of users opt into Optimism as well as bridge over and participate on emerging chains such as Swell. We're continuing to develop new features that will make it even more seamless, such as Super Swaps—the ability to swap tokens across all chains through Velodrome and make it feel like a single chain. — Tao, Velodrome How does the Superchain ERC-20 plan on updating the standard for everybody? Super Swaps will essentially use certain tokens that we’re currently building out liquidity for in collaboration with Hyperlane and a few other players. This will allow for very fast finality across chains—you bridge a token and trade it on the chain with a new pool. The liquidity pools will need to be present on both chains to ensure the swap can happen, but in terms of the user experience, it will be very similar. — Tao, Velodrome Swellchain is the restaking chain. Can you explain what that means? The main reason we have positioned Swell as the restaking chain is that when Swell was looking at restaking and AVSs, we noticed that there is $10–15 billion worth of security in EigenLayer, but there is no home for these AVSs. Just like King Protocol is creating a home for AVS governance tokens, we wanted to create a chain where these AVSs can build with support in an environment that allows them to gain the usage they need to become sustainable networks. A governance token alone can only go so far, and if restaking is to be successful, Swell needs to play its part in helping these AVSs get usage on-chain. We've positioned Swellchain as a place to bootstrap and help these builders go to market and gain traction. One of the most exciting aspects of this pathway is that Swell is deeply committed to integrating restaking at the chain level later on. We’re exploring innovations such as secure block building with Radius, which allows users to encrypt their transactions before the block is built, making the block MEV-protected. Swell launched our liquid staking token, swETH, in 2023, followed by our restaking token, rswETH, in early 2024. With over two years in the industry, it made a lot of sense for us to build the chain for restaking. We are laser-focused on creating the best experience for LRTs on-chain. — Abi, Swell How does King envision the future on Swellchain? It has been a great experience building liquidity and attracting LPs, and we are aiming to build the most useful possible ecosystem. Our goal is to offer $KING holders a wide range of opportunities for their tokens while also providing AVS governance tokens witha Trojan horse to tap into that liquidity and DeFi optionality. Swellchain has already been a tremendous partner in helping us achieve that. — Joe, King Protocol What inspired you to start King Protocol? King was formerly LRT2, the product devised by Swell Founders among others that Etherfi used to pool all these rewards. They recognized that this product needed to exist because if all these AVS tokens were simply sold, it would create a vicious negative feedback loop where restaking yield is also sold off. Rather than having this solution owned by LRTs themselves, we figured it should be an independent solution run by a capable team. So, Alpha Growth was commissioned, and we rebranded it into something a little more memeable and fun. The big problem we’re solving is the fragmentation and low liquidity of the various yield tokens emerging from the evolution of restaking. As more AVSs begin paying for security, those tokens will be deposited into the KING vault, where LRTs can distribute them to users. This ensures that restaking users have liquidity for their extra yield. —Joe, King Protocol Why is Velodrome on Swellchain a great place to LP your KING? Once you have KING on Swellchain—which you can bridge using Superbridge—there are three main yield options available, with more to come soon: LP on Velodrome – Swell has its own veVELO, which was bought and locked up to vote on the KING pool. Hold KING on Swellchain – Holding $KING on Swellchain earns SWELL rewards. LP KING-ETH on Ambient – Earns SWELL rewards. You can check out all the earning opportunities on the Swell Portfolio . — Abi, Swell Thanks to everyone who attended the event! Listen to the recording. To stay up-to-date with Swell, join our thriving community on Discord , DeBank , and X .
Swellchain Wave 6: Velodrome
Please welcome Velodrome to Swellchain! The Superchain’s liquidity hub, Velodrome will bring deep liquidity and low slippage swaps to Swellchain. 20M $SWELL will flow to Velodrome and other Swellchain dApps over the next two weeks. Check yields in the Portfolio: app.swellnetwork.io/earn/portfolio What is Velodrome? Velodrome is a next-generation AMM DEX that combines the best of Curve, Convex and Uniswap, and is designed to serve as the liquidity hub for the Superchain. Velodrome first launched in June 2022. Velodrome rewards LP'ers on Velodrome earn both $VELO and $SWELL rewards. 20M $SWELL will flow to Swellchain dApps over the next two weeks, including these Velodrome pools: KING/ETH ezETH/wstETH SWELL/USDE weETH/ETH rsETH/wstETH wstETH/ETH VELO/ETH SWELL/ETH rswETH/ETH As previously, you can still earn $SWELL rewards for LP’ing in other Swellchain dApps and holding the following assets on Swellchain: $KING $swETH, $rswETH, $swBTC and $rSWELL $ezETH and $pzETH $weETH $rsETH $wstETH $sUSDe Got questions? Ask the team in the Swell Discord server .
ON–315: Restaking
ournetwork xyz EigenLayer 🟣 👥 Diego Cabral | Website | Dashboard 📈 EigenLayer Continues to Lead the Restaking Sector After a surge in deposits between February and April 2024, total value locked (TVL) for Eigenlayer, the leading restaking protocol, has seen steady growth. TVL now exceeds 7.2M ETH —roughly $20B at the time of writing. Of that amount, 80.6% is native staked ETH, 14% is Lido’s stETH, while more than ten other variations of liquid staking tokens ( LSTs ) make up the rest. The protocol has just under 137,000 unique depositors. Dune - @hahahash DUne - @hahahash EigenLayer still dominates the restaking market with an 89% share — a ~5% increase since September 2024 — gained at the expense of Symbiotic and Karak, which now hold 7.6% and 3.3%, respectively. Most of this capital rotation started to happen on the second week of January 2025. Dune - @blocklytics Dune - @blocklytics Out of the total ETH supply of over 120M, nearly 34M ETH is staked, making up about 28%. Of that, over 7M ETH is restaked with EigenLayer — close to 6% of the total supply — demonstrating a strong commitment from depositors and node operators to the network’s security. Dune - @hahahash Symbiotic 👥 👥 okolicodes | Website | Dashboard 📈 Symbiotic Crosses 1,500 Unique Stakers Since Mainnet Launch Symbiotic is a shared security protocol designed to create a marketplace for economic security. It enables networks that need security to access it from those who have assets to stake, creating an efficient ecosystem where stake can be shared and utilized across multiple networks. Since mainnet deployment on the Jan. 28, 2025, about 1.8K users have deposited into one of Symbiotic's legacy vaults with about 1.4k of them being new to the Symbiotic Protocol. Dune - @player_one Dune - @okolicodes In a vault which holds LBTC, the liquid staked version of Bitcoin from Lombard , a total of about $45K has been deposited so far and the above chart displays the deposit amount in USD. Dune - @player_one Since January, Symbiotic has attracted 119 Operators , which are the entities running infrastructure for decentralized network within and outside of the Symbiotic ecosystem. Dune - @player_one Swell 🌊 👥 Ian Unsworth | Website | Dashboard 📈 Swell Chain has Quietly had 10K+ Unique Wallets Bridge Since Launching Last December, Bringing $200M+ TVL to the DeFi-focused Proof-of-Restake L2. Swellchain is the Layer 2 (L2) network for Swell, a non-custodial LST and liquid restaking token (LRT) provider with over $800M in TVL across all products. Swellchain itself operates as a restaking-focused Layer 2 network built on the OP Stack alongside other L2s like Base, Optimism, and Unichain. Swellchain has attracted top protocols such as Euler , the lending protocol, Ambient, the trading protocol, and soon Velodrome, the decentralized exchange (DEX), to deploy on their chain. This has allowed the chain's $230M of TVL to be productively utilized and spark economic activity on the network. Dune - @maybeYonas Swellchain has unique ties to actively validated services ( AVS ) and networks it secures, like Ditto and Hyperlane. While its restaking products secure these services, Swell also uses them, creating harmonic incentives. For instance, approximately 30% ($67M) of Swellchain’s TVL was bridged via Hyperlane. Dune - @maybeYonas Swellchain’s gas consumption has surged since December, with spikes tied to new protocol launches. The steady rise in daily gas used and seven-day moving average (DMA7) signals growing network demand. Continued acceleration suggests increasing adoption, reinforcing Swellchain’s role as quietly growing DeFi restaking hub. Flipside - @maybeyonas 🔦Transaction Spotlight:In less than a month after deploying on Swell on Jan. 20, Euler's WETH vault has become the largest DeFi contract on the chain, with $9.71M supplied and a 20% utilization rate. This is an interesting instance because there's only $10.56M of ETH total onchain for Swellchain. The majority of the TVL is in LRTs and other yield bearing assets, with EtherFi's weETH making up the largest chunk at 33% ($81.59M). Ether.fi ⚙️ 👥 Owen Fernau | Website | Dashboard 📈 Eigenlayer Dominates as Destination for Ether.fi Deposits Ether.fi is a non-custodial staking protocol whose key offering, eETH, is integrated with Eigenlayer to offer restaking rewards. The protocol reached 2.54M ETH in TVL, according to Dune Analytics . Deposits into Ether.fi are routed into different protocols — key among those is Eigenlayer, where Ether.fi's deposits constitute over 40% of the protocol's TVL. Ether.fi's deposits are also over 40% of Symbiotic's TVL, showing Ether.fi's impact in the restaking space. Dune - @ether_fi Ether.fi experienced a steady increase holders — defined as holding at least $10 of any of the platform's LRTs — since its launch in November 2023. Unique holders peaked at 150,000 in August 2024 and have since dropped 23% to 115,000. Dune - @ether_fi The seven day moving average of eETH, an LRT, is at 2.6% as of Feb. 20, 2025. That's in-line with LSTs like Lido's stETH and Rocket Pool's rETH. 🔦Transaction Spotlight: This address is the top ETH depositor on Ether.fi, with 55,102 ETH — valued at $148M+ at the time of writing — restaked through EigenLayer in the eETH vault. Solayer 🌐 👥 Oladimeji Mustapha | Website | Dashboard 📈 Net Liquidity for the USDC pool on Solayer, a Restaking Protocol on Solana, Took a Hit in February In early January, Solayer’s USDC pool saw an explosion in activity, with daily active wallets skyrocketing to 1.66K users, likely driven by fresh incentives, yield opportunities, or new integrations. But just as momentum built up, February took a sharp turn, withdrawals surged, outpacing deposits and triggering a liquidity drain. ✏️Editor's Note:Solayer's USDC pool offers sUSD, a yield-bearing, U.S. dollar-pegged stablecoin. sUSD, like ETH in Eigenlayer, can be used to secure AVS, according to Solayer's website . Dune - @w4vy Dune - @w4vy These are major outflows — 1.8M+ USDC in a single day. Was this a sudden shift in sentiment, reaction to changing incentives, or a well-planned whale exit? Either way, it’s a move that raises big questions about market confidence. 🔦
Drosera Raises $4.75M to Create the Immune System for Ethereum
San Juan, Puerto Rico, February 10th, 2025, Chainwire Drosera , an innovative Ethereum-aligned security automation layer, positioned as the immune system for Ethereum has closed its latest funding round bringing the total raised to $4.75 million. The raise, which was led by Greenfield Capital , saw participation from several prominent funds including Anagram , Paper Ventures , Arrington Capital , UDHC and Pulsar . Multiple angel investors also committed capital, among them Jan Baeriswyl, Luke Hackett, Felix Lutsch, Max from DeFine Logic Labs, Diogo Costa, Yaroslav Pshenitsyn, Peter Kim, Mara Schmidt, Daniel and Abhishek from Swell Labs, Anuj Shankar, and Collin Myers. “We are thrilled to have the support of so many esteemed investors as we strive to set a new and elevated standard for protocol security,” said Samuel Glenn (Bobafetador), co-founder and CTO of Drosera. “Drosera acts as Ethereum’s immune system by arming protocols with the ability to detect and neutralize threats before they can cause harm. By significantly reducing the risk of exploits, we are building a more resilient and trustworthy DeFi ecosystem.” With over 3,700 web3 protocols having fallen victim to exploits enabled by security failings and vulnerabilities, Drosera offers a cutting-edge solution. “This raise is a pivotal milestone for Drosera as we continue our mission to redefine security standards within the decentralized finance space,” said Fernando Reyes (FDR), Founder and CEO of Drosera. “This funding will enable us to scale and push the boundaries of what’s possible in protocol security, ensuring that every project built on Ethereum can operate with greater resilience against the ever-evolving landscape of cyber threats. Honing in our mission to actualize a Web3 without Compromise” Drosera’s innovative approach, modeled as Ethereum’s immune system, enables protocols to delegate security infrastructure to a decentralized network of node operators. This system functions similarly to antibodies in a biological immune system, identifying and neutralizing threats in real time to safeguard the network. It works as follows: • Protocols create Traps, highly customizable Solidity-based smart contracts that define application security parameters • Protocols deposit funds into Traps, creating value for third-party operators who use the Drosera Client to actively monitor Ethereum data to respond to events deemed risky: operators must execute an emergency response upon detection of a breach Drosera’s system aligns incentives across protocols and operators, giving birth to a new economy that it believes will become the standard for web3 security. The network has already gained significant traction, with over 25 protocols committed to its Testnet, including Ion Protocol, EtherFi, and Gravita. It has also secured partnerships with several node operators such as Infstones, Everstake, Cosmostation, a41 and Blockscape, and joined forces with security specialist GoPlus. “We are excited about the experienced team and its relentless drive to redefine on-chain security.” said Greenfield Principal Jendrik Poloczek “In DeFi, economic audits and bug bounties are simply not enough. Drosera provides the crucial building block of holistic real time threat detection and incentivized response.” “Drosera’s approach to Web3 security leaves no stone unturned,” said Paper Ventures Partner Ivailo Jordanov. “By leveraging a decentralized network of node operators, they are creating a new and exciting paradigm for security at the protocol level. We look forward to seeing the impact the network has on the industry going forward.” Funds raised by Drosera will be used to accelerate product development, recruit personnel, and prepare for the launch of mainnet, scheduled for Q2 of 2024. About Drosera: Drosera is the decentralized immune system of Ethereum. By leveraging the next generation of smart contracts known as “Traps”, Drosera provides adaptive and verifiable mechanisms that act like antibodies, detecting and neutralizing vulnerabilities before they can harm the ecosystem. For partnership inquiries or more information, contact us below: Website https://www.drosera.io/ Contact Zain [email protected]
Euler on Swellchain | Space Recap
In our latest Space, we were joined by Antoine from Euler and Soufia from Kelp to explore the potential of LRT lending on Swellchain. In case you missed it, here are the top questions from the event. What is Swellchain? “With Swellchain, we are bringing to market a concept we call Proof of Restake. Proof of Restake, is essentially where you use restake to secure, scale, and decentralize various aspects of the chain – such as sequencing, data availability – as well as to host a set of dApps on the chain that are able to do things that are simply not possible within the constraints of the EVM. Swellchain is an Optimistic rollup, built on the Superchain. One of the major problems that we wanted to fix with Swellchain is “can we build an ecosystem and a chain that is going to be a true home, not only for the LRT assets to sit on, but also for users to consume the different AVS’s and networks that are made possible through restaking?”. This is where the Proof of Restake concept comes in. Going off what we saw last year, there were a lot of different restaking layers that popped up such as, EigenLayer, Symbiotic and also Kernel, where we saw a lot of assets that were sitting in restaking. One of the beautiful things about restaking is that it allows services that fall back to a decentralized consensus of Ethereum, while being able to go beyond the constraints of the EVM. What this means is that you can build whatever you want and it's able to be secured by ETH. We’re excited to be working with a lot of different builders, and you'll be seeing a lot more on this Proof of Restake concept on Swellchain over the next year.” – Abi, Swell Lending is a big part of the vision of Swellchain. Where does Euler fit in? “Euler is a protocol that was founded a couple of years ago, coming out of a hackathon and has since grown to become one of the biggest and fastest protocols from the previous bear market. Euler is well positioned to capture a lot of market share, and help existing protocols but also to be ready for the future where we will see changes in trades, assets evolving, and more and more institutions, and because we are modular we can accommodate for that. Lending is an essential component of every ecosystem and every chain, because it helps liquidity flow, use cases to flourish, and brings utility to a lot of the dApps and tokens that are present there. Euler fits in particularly well with Swellchain, because on top of the specificities and advantages of Swell that Abi described, Euler is a flexible lending protocol, and the infrastructure that we've built allows anyone to create the lending market that fits their use cases. If you look at the Euler market that has been deployed on Swell, you will see it is a market focused on the use case of ETH and ETH derivative assets. This market has been designed for the particular use case of people using yield bearing ETH derivatives, putting it as collateral and borrowing ETH, therefore having a more leveraged position. We let builders who can build projects, be risk managers, or just anyone who wants to deploy a market, to use their knowledge of risk markets and their creativity, to build custom markets for the expansion of each chain. Swell have attracted amazing projects to come and build on Swellchain, and on top of the market already live, you will see a lot of great curators and projects on there very soon. Our flexibility, the quality of the projects on Swellchain, and the need for custom markets is really what made it obvious for Euler to deploy there on Day 1, and we’re super grateful for that.” – Antoine, Euler What role does lending play in the rsETH ecosystem? “The interesting thing that Kelp has been working on, is trying to rely less on retail and instead focus on more activity on LPs from whales via our vaults. If we take the example of Aave for instance, 90% of the activity is from Kelp vaults, and from that perspective these markets rely on us to supply rsETH to be able to borrow from assets. This is all to say that we try to hedge ourselves via multiple markets given that rates do fluctuate a lot which we see on a daily basis. In the future, we are looking to add more up and coming lending markets, as well as work with these markets in order to optimize rates so that we can allow for looping.” – Soufia, Kelp What strategies can people take advantage of on Swellchain? “We can see that the biggest thing users are doing right now is leveraged restaking, which is the main use case that we want to enable on Swellchain, and is the primary use case of the market that is set up on Euler right now.” There are currently two ways to earn rewards on Euler: Provide ETH to Euler Take any asset, go to Euler, and borrow ETH against it Rewards are distributed via Merkl as Swell’s reward token wSWELL, the 1:1 wrapper for SWELL. Looking forward, we see lending as something that is much bigger than just leveraged restaking, and we think that much more can be done then simply putting in an LRT and borrowing ETH. We see Euler as the perfect platform to fulfill this, where Euler is simply not a lending platform, but a platform that builders can use to build variations of what lending can look like. What we hope to see on Swellchain is other builders using Euler as a base platform to build new lending use cases, because ultimately in a way, lending is very similar to restaking.” – Abi, Swell Thanks to everyone who attended the event! Listen to the recording. To stay up-to-date with Swell, join our thriving community on Discord , DeBank , and X .
Deep Dive | February 4th
Through market volatility and turbulence in Ethereum, the Swellchain ecosystem continues to take shape. Each Wave of rewards over the last month has brought a new aspect of the ecosystem into focus—from DEXs to AI-powered Tempest vaults and most recently lending with Euler. Join us as we explore recent developments across Swell in our latest Deep Dive. 🌊⛓️ Swellchain Updates Euler Euler offers the opportunity to lend, borrow, and lever up your yield, and $18 million deposits were made on the first day of launching on Swellchain! Earn SWELL rewards by: Supplying WETH liquidity to the Euler V2 vault Depositing rswETH as collateral Check out the current reward earning opportunities on the Portfolio page. Safe Wallet Trusted multisig wallet, Safe, is live on Swellchain. With Protofire’s Multi-Chain Safe feature, you can create a Safe on Swellchain and expand it to other Optimism chains and Ethereum while retaining the same Safe address. Wavedrop claims migrate Wavedrop claims are now open on Swellchain. You have until the 21st of February to claim Wavedrop 1 and Wavedrop 2 with Black Pearls. Unclaimed SWELL will be returned to the DAO. Please submit a support ticket in the Swell Discord, or on the Swell app, before Feb 5th if you wish to claim on mainnet instead. Claim Wavedrop 1 and 2 SWELL Rewards 🔓wSWELL Unlocks wSWELL earned in Wavedrops can now be unlocked for $SWELL. Visit the wSWELL dashboard on the Swell app, hit claim, and unlock the full value of SWELL after 10 weeks! 🔴 Optimism Season 7 Rewards The Swellchain ecosystem is eligible for upcoming Superchain rewards, as part of Optimism’s Governance Season 7: Interoperability. Check out the official Superchain Index. 🖤 Swell x Hyperliquid Swell has joined the Hyperliquid ecosystem in a strategic collaboration on multiple initiatives, spanning both HyperEVM and Hyperliquid DEX. First up: the Swell Foundation has acquired the $SWELL ticker on Hyperliquid. tuned to learn more about this collaboration! 🔀 Symbiotic Mainnet Launch Symbiotic’s latest mainnet launch brings more rewards to Swell users swETH and SWELL restakers can now migrate your assets ready for real-time restaking rewards to start flowing. No action is required from rSWELL and swBTC users. swBTC restakers are now securing the following the following Symbiotic Networks: PrimeV: Has launched points and will reward validators processing pre-confirmations, creating real restaking yield. Radius: Has several rollups in the pipeline which will incentivize operators and swBTC restakers. Kalypso: Is incentivizing hardware operators generating proofs with USDC and points based on marketplace dynamics. Ditto: swBTC restakers will receive points and eventually real yield when execution goes live on mainnet. Note: To factor in the unbonding period for restaking assets on the upcoming Symbiotic mainnet, the withdrawal time for swBTC and rSWELL is now 18 days. Migrate swETH to the Gauntlet Restaked swETH Vault ⏰ Discord Office Hours Join us fortnightly on Thursdays for Office Hours in the Swell Discord. This is a chance to check in with the team, ask questions, or just chill with the Swell community. Next Office Hours will be held on the 13th of February, 11am UTC! 🎙️ Spaces and Podcasts Swellchain Launch; What You Need to Know | Redstone Space Our Chief Commerical Officer Kilian, joined Redstone’s Space to chat about the launch of Swellchain, with the teams from Etherfi and Ionic. Listen to the recording MetaMask Developer Community Call | MetaMask Space Our DevRel Lead Fabian, joined MetaMask’s latest Community Call for a fireside chat on Swellchain. Listen to the recording 💧 Liquidity Swell x Berachain Boyco rswETH has landed on Boyco! Users can participate by: Supplying rswETH on Dolomite Provide beraETH-rswETH liquidity on Kodiak Supply on Dolomite Provide liquidity on Kodiak Tempest Vaults on Swellchain Earn $SWELL rewards, plus $TEMPEST by depositing in the latest Tempest Vaults built atop Ambient on Swellchain. ETH/SWELL ENA/USDE rsETH/weETH ezETH/pzETH weETH/rswETH Check out the yields and rewards on the Portfolio page 📣 Top Tweets Deep dive into Swellchain stats with Mrfti’s Analytic Dashboard Deep into Swellchain 📊/🧵 Data By: @flipsidecrypto pic.twitter.com/IxsG9OIrpO — Mrfti (@Mrfti_plus) January 23, 2025 Claims made easy (and cheap) on Swellchain A mistake I made when claiming my SWELL drop: I thought it was on the mainnet so I was waiting for low gwei. But it was on the Swellchain L2 instead and gas costs < $0.01 there. The claim ends in less than a month: https://t.co/8sOZiq2vHo pic.twitter.com/9H7vCp38AC — FIP Crypto | Airdrops Made Simple (@FIP_Crypto) January 28, 2025 Join the Swell Community Expect to receive your next edition of the Swell Deep Dive in three weeks. Until then, stay up to date by joining us in Discord and following us on Farcaster , Twitter and DeBank .
Swellchain Wave 4: Euler
OG lending protocol Euler has arrived on Swellchain, riding another Wave of rewards! Get a share of 25,000,000 SWELL for using Euler and other apps on Swellchain in the next two weeks. In addition, you can still earn SWELL for holding certain LRTs, along with Swell and tokens from Tempest and Neptune Finance for using the corresponding apps on Swellchain. What is Euler? Euler is a permissionless money market protocol that allows users to lend and borrow almost any crypto asset. The deployment of Euler on Swellchain enables restakers to lend, borrow, and use leverage to easily multiply restaking yield. Rewards Earn SWELL rewards by: Supplying WETH liquidity to the Euler V2 vault Depositing rswETH as collateral Check yields on the Portfolio page: app.swellnetwork.io/earn/portfolio Got questions? Ask the team in the Swell Discord server .
Swellchain Wave 3: Tempest and DeFai
Another Wave of Swellchain rewards is upon us! 25,000,000 $SWELL will be distributed during this two-week Wave, along with $TEMPEST for depositing in Tempest’s AI-powered yield vaults on Swellchain. In addition, you can still earn $SWELL for holding certain LRTs, and $NEP tokens for using Neptune Finance. What is Tempest? Powered by machine learning models, Tempest is a liquidity management system built atop Ambient Finance. Tempest continuously adapts its trading parameters to automatically position liquidity for optimal returns, while users maintain full control of their assets. Rewarded Tempest Vaults Five new vaults join in this Wave of Swellchain rewards, all built atop Ambient Finance pools. Ether / Swell Token ETH/SWELL Ethena Synthetic Dollar / Ethena ENA/USDE Kelp DAO Restaked ETH / Wrapped Etherfi Ether rsETH/weETH Renzo ezETH / Renzo pzETH ezETH/pzETH Swell Restaked Ether / Wrapped Etherfi Ether rswETH/weETH Check yields on the Portfolio page: app.swellnetwork.io/earn/portfolio Got questions? Ask the team in the Swell Discord server .
Wavedrop 2 Checker
The Wavedrop 2 checker is live! The following rewards can now be checked and will be claimable on Swellchain before Jan 22nd. Check your SWELL rewards on the Swell City page, and your EIGEN in your Portfolio . $SWELL earned in Wavedrop 2 Eligibility: Holders of Black Pearls collected between October 8th and December 17th, 2024. $SWELL bonus airdrop for L2 Pre-Launch depositors Eligibility: Holders of Ecosystem Points. $EIGEN representing a share of the 1M Eigenlayer Points. Eligibility: Depositors in the L2 Pre-Launch during the first four weeks who stayed until the launch of Swellchain on December 19th, 2024. The amount of EigenLayer Tokens received is derived from the amount deposited in the pre-launch deposit contract, and the duration of the deposit, as calculated based on a time-weighted average. The Eigenlayer Points were purchased by Swell during Eigenlayer Season 1, in which points were converted to tokens at a ratio of ~42.8 points per $EIGEN. How to claim Head to the Portfolio page when claims open on Jan 22nd and hit claim. If you need ETH for gas to transact on Swellchain, then top up via the Superbridge or unofficial bridges such as gas.zip. Optionally, you will be able to deposit your newly claimed SWELL in the SWELL/ETH pool on Neptune to earn $SWELL, $NEP and pool yield! What about Wavedrop 1 and Voyage claims on Swellchain? Wavedrop 1 claims will reopen on Swellchain at the same time, and are now paused to facilitate the migration from mainnet. Following this, Voyage claims will also be migrated to Swellchain. What’s next? Other pre-launch rewards – including token allocations from multiple ecosystem dApps such as Brahma, Versatus, Ditto, and Drosera – Will be airdropped to Ecosystem Point holders at the time of their respective airdrops. Check APYs in the Portfolio to find more opportunities to earn SWELL!
Swell announces that Wavedrop 2 checker has been launched
On January 11, the re-pledging platform Swell announced that the Wavedrop 2 checker is now online, and users can now check the rewards they can claim in Wavedrop 2. Swell also stated that claims are expected to open on January 22, and Wavedrop 1 claims will also be reopened on Swellchain at the same time, which is currently suspended for convenience of migration from the main network.
Swell announces Wavedrop 2 inspector is now live
On January 11th, Swell, a re-pledge platform, announced that the Wavedrop 2 checker is now online, and users can now check the rewards they can receive in Wavedrop 2. Swell also stated that the application is expected to open on January 22nd, and the Wavedrop 1 application will also be reopened on Swellchain at the same time. Currently, it has been temporarily suspended to facilitate migration from the main network.
Swellchain Wave 2: DeFi Liquidity
In this second DeFi Wave, you can earn your share of 25,000,000 SWELL, along with tokens from Tempest and Neptune Finance, for using the respective dApps on Swellchain. Tempest Tempest provides AI-powered non-custodial vaults atop Ambient Finance, the industry's most versatile, flexible, and powerful DEX. Provide liquidity in the USDe/ETH vault on Tempest to capture vault yield, SWELL, Tempest Tokens, and more. Neptune Swellchain's dedicated DEX Neptune provides a new trading experience for restaked liquidity. Provide liquidity in the following pools on Neptune to earn both $NEP and $SWELL rewards: ETH/NEP ETH/msETH (from MetronomeDAO) ETH/SURF (from Surf Protcol) ETH/SWELL Holding rewards In addition, you can still earn $SWELL rewards for simply holding the following assets on Swellchain: $swETH, $rswETH, $swBTC and $rSWELL $ezETH and $pzETH from Renzo $weETH from Etherfi $rsETH from Kelp $wstETH from Lido $sUSDe from Ethena Please note that these positions are not yet showing on the Portfolio page and will be updated within the next few days. Check the yields on Merkl: https://merkl.angle.money/?chain=1923 Got questions? Ask the team in the Swell Discord server .
SWELL在Hyperliquid平台的拍卖中以42万美元的价格成交
据 hypurrscan 数据，Swell(SWELL) 在 Hyperliquid 平台的拍卖中以 42 万美元的价格成交，高于上一次「RIFT」的成交价格 38.53 万美元。
Exploring Swellchain with Bubbly, Ion, and Neptune | Space Recap
In our latest Space, we were joined by three Swellchain dApps – Bubbly Finance, Ion, and Neptune – to discuss how they will unlock new potential for restaked assets. What is Swellchain and what are we aiming to achieve? “Swell is a liquid staking and restaking protocol that launched on Ethereum mainnet last year, and since then has grown quite a bit with $1.5B in TVL across the different products that we offer such as swETH, rswETH and swBTC, as well as in L2 pre-deposits. Proof of Restake is something that Swell has been working on for the past 6 to 7 months. Being so entrenched in the restaking space, we saw that there was a lot of the focus on restaking and building AVSs, which led to an abundance of things wanting security, but not enough people trying to use the security. Proof of Restake at its core is an extension of Proof of Stake (PoS), where PoS is what Ethereum, the base layer, is doing, whereas Proof of Restake (PoR) is where we take all of this to secure the sequencer, the DA layer, and AVS’s at the dApp layer. This will allow us to be the core place for everything restaking in the ecosystem. Swell is working really closely with all of the LRTs to build the chain that is specifically focused at providing the best experience for LRT holders. These LRTs will be able to secure different components of the chain, and DeFi protocols such as Neptune, Bubbly Finance, and Ion, that will be working towards building primitives that are specifically targeted at providing the best DeFi infrastructure for LRTs.” – Abi, Swell Please could you provide an overview of your protocol? “At Bubbly Finance, we are building a Uniswap v3 experience for users to trade pre-launch tokens and points. Once launched on Swellchain, users can come to Bubbly and find all of the projects that plan to, or have already, launched points programs. Bubbly can provide price discovery which will help capture market attention and user interest, ensuring that protocols gain very early traction, and users can make informed investment decisions in the pre-market phase.” – Black, Bubbly “We've been in DeFi for quite some time and liquid restaking has always been quite interesting. The Swell ecosystem in particular is very interesting, and we saw Neptune being one of the core primitives that could be the go-to place where people want to swap, trade and move in and out of different assets. Our partnership with Swell is something we look forward to continuing to collaborate closely on, where we can build out a future that the ecosystem would like to see, while being the go-to source for liquidity and place for people to transact.” – Dean, Neptune “Ion is a lending market built specifically for yield bearing assets such as LRTs and LSTs. There's two mechanisms that are unique to Ion; a) isolated markets, and b) removing all price based liquidation risks and moving to an exchange rate risk model. Isolated Market - Allow us to take a look at one asset and underwrite it. This allows us to be super efficient and get aggressive with LTVs, which translates to better rates for borrowers and lenders. By doing that we minimise the exposure of bad debt to the protocol, produce a market collateral list to suppliers, and minimise volatility and liquidity risk. Removing Price Based Liquidation Risks - Allows us to create a more secure and capital efficient market for lenders and borrowers. Lenders are able to be compensated with rates that are above the staking and restaking rates without taking on additional risks. Borrowers on the other hand, have the flexibility to leverage up to 15x leverage on their underlying collateral, and take full advantage of and maximise their yield. This is a great way to increase your exposure to points programs, yield rates and everything else. This is why we are so excited to come to Swellchain, which will be the home of yield and restaking, with so many opportunities to leverage up on these restaking rewards.” – Danny, Ion Why did you choose to build on Swellchain? “The Neptune team have a lot of expertise in the EVM space and with that being the case, the liquid staking narrative and desire, coupled with the fact that there was a lot of day one TVL support, made it very attractive to build on Swellchain. At the end of the day Layer 2’s are quite competitive. The differentiators are basically how big of a treasury can you amass, and how much firepower do you have to attract TVL. Being able to participate in a growing ecosystem with substantial TVL, firepower to support builders, and incentivised additional TVL acquisition was very attractive.” – Dean, Neptune “We chose to build on Swellchain because of the visionary team and great strategic plans for their L2 expansion. The Swell team stands out for their strong operation and deep commitment to building a robust Layer 2 ecosystem, especially for the collaboration with Bubbly Finance. We think that if Bubbly can provide an AMM protocol for Swell to create a points hub for the protocols, the yielders will have a place to reach incentives that have more value.” – Black, Bubbly “We have known the Swell team for a long time, and they are one of our favorite teams to work with in the DeFi and crypto space, so it wasn't too hard of a decision to make. We have confidence that Swell is going to be the home for yield with restaking and they're focused on curating a well thought out DeFi ecosystem which is really attractive to us.” – Danny, Ion What can we expect next from your protocol on Swellchain? “We are going to become an immediate sink for yield bearing assets on Swell. This will enable users to lever up, as well as provide the best opportunities for more risk-off market participants to gain exposure. We’re really excited for things to kick off soon, and cook up some yield for everyone here.” – Danny, Ion “Firstly we will continue to widen our pre market trading on Swellchain, where users can trade pre-launch tokens and points. Buyers and sellers will be able to deposit collateral to trade points, and liquidity providers can provide USDC or SWELL in the pools.” – Black, Bubbly “We are going live at the same moment Swellchain does, and we are excited to be the go-to hub for trading activity for all tokens, and especially LRTs.” – Dean, Neptune Thanks to everyone who attended the event! Listen to the recording. To stay up-to-date with Swell, join our thriving community on Discord , Farcaster , DeBank , and X .
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