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
Swell: Bridge funds exceeded $120 million, mainly flowing in through the Stargate protocol
Swell announced in a post on X that its bridging funds have exceeded 120 million US dollars, with more funds flowing in. Major assets such as USDe from Ethena Labs, weETH from ether.fi, and rswETH from Swell are flowing in size and speed. Most of the funds are flowing through the Stargate full-chain transmission liquidity protocol (supported by LayerZero technology).
Swell: Bridge funding exceeds $120 million, mainly flowing in through the Stargate protocol
Swell posted on X stating that its bridging funds have exceeded 120 million US dollars, with more capital flowing in. Major assets such as Ethena Labs' USDe, ether.fi's weETH and Swell's rswETH are moving at scale and speed. Most of the funds are transferred through the cross-chain liquidity protocol Stargate (supported by LayerZero technology).
Build on Swellchain: The Restaking L2 of the Superchain
Swellchain, a restaking-powered network built on the OP Stack, represents a significant evolution in Ethereum's Layer 2 scaling landscape. Rather than simply expanding blockspace, we introduce a purpose-built Layer 2 solution designed specifically for Liquid Restaked Tokens (LRTs). Specialized Blockspace: A New Scaling Paradigm Traditional Layer 2 solutions focus on increasing raw transaction throughput. Swellchain introduces a different approach: specialized blockspace optimization for restaking operations. Instead of competing in general-purpose computation, Swellchain creates a dedicated infrastructure for LRT-specific transactions and state management. This specialization manifests in three key areas: Network Architecture Infrastructure Integration Economic Design/Proof-of-Restake This post will explore each of these areas in detail and enable you to build on Swellchain. But first lets recap the vision and mission of Swellchain: Mission & Vision of Swellchain Current chain scaling solutions face a critical challenge: while increasing throughput by adding more blocks creates additional capacity, it fails to address specialized use cases efficiently. Swellchain challenges this approach by creating an ecosystem optimized for LRT operations, focusing on purpose-built infrastructure rather than general-purpose computation. Swellchain is an optimistic Rollup hosted by AltLayers RaaS, and is fully integrated into the Optimism Superchain. Swellchain's alternative Proof of Restake mechanism allows LRT holders to maximize returns while maintaining security - we're aiming for no less than being the most value-generating environment for LRTs. Technical Architecture Swellchain implements a multi-layered architecture that combines Optimism's proven infrastructure with advanced restaking mechanisms. The network leverages the OP Stack for core functionality while introducing specialized components for LRT operations. Through integration with AltLayer's AVS services (MACH, VITAL, and SQUAD; we will go into detail in a bit), Swellchain achieves sub-10 second finality, decentralized verification, and distributed transaction sequencing - all secured through EigenLayer's restaking mechanism. Swellchain delegates consensus to the canonical chain while maintaining a parallel network optimized for restaking operations, reducing overhead from general-purpose computation that typical L2s must handle. Core Components Swellchain's architecture consists of two primary layers: the foundational OP Stack integration that provides core rollup functionality, and a specialized restaking infrastructure layer that enables unique LRT capabilities. These components work in concert to deliver both scalability and purpose-built features for LRT operations. 1. OP Stack Integration Inherits Optimism's battle-tested codebase Leverages shared protocol upgrades and security Uses ETH as the native gas token Benefits from Superchain interoperability 2. Restaking Infrastructure The network integrates three purpose-built AltLayer Actively Validated Service (AVS) that form a complete restaking infrastructure stack. An AVS is a specialized middleware network that performs specific validation tasks while being secured by restaked ETH through EigenLayer: MACH AVS : Delivers sub-10 second finality compared to Ethereum's ~13-minutes VITAL AVS : Handles state verification through fraud/ZK proofs SQUAD AVS : Enables decentralized transaction sequencing Proof of Restake: A New Security Paradigm Proof of Restake (PoR) represents a new security and yield generation mechanism. The mechanism works through a sophisticated flywheel that connects staking, security, revenue, and ecosystem growth into a self-reinforcing cycle: 1. Asset Staking and Tokenization Users stake assets into Swellchain Receive liquid restaked tokens (LRTs) in return Maintain liquidity while securing infrastructure 2. Infrastructure Security Restaked assets to secure network services Validators, relayers, and sequencers leverage staked assets Creates multiple yield-generating opportunities 3. Revenue Distribution Transaction fees Sequencer fees Infrastructure service fees All cascade to restaking yield (and exposure to different incentives *wink wink*) 4. Ecosystem Growth Deeper liquidity pools Enhanced security through increased stake Attracts more builders and users This flywheel mechanism creates a cycle where increased participation strengthens network security, which in turn attracts more users and generates higher yields, further incentivizing participation. The result is a self-reinforcing system that aligns the interests of all participants while maximizing capital efficiency. Build on Swellchain Swellchain's development environment combines OP Stack's familiar tooling with specialized infrastructure for LRT operations. This section provides a complete technical implementation guide, from initial network configuration to advanced restaking integrations. Each component includes working code examples and architectural considerations for production deployments. Why Build on Swellchain? Swellchain's architecture provides specific technical advantages for LRT-focused applications: Purpose-Built Infrastructure Through Proof of Restake , Swellchain will delegate consensus to Ethereum, and incorporate AVS protocols secured by Swell assets to create differentiated block space at the Rollup level. The resulting infrastructure will be both secured by LRTs and exclusively specialized for accommodating LRT operations.Swellchain's architecture focuses exclusively on LRT operations, providing specialized infrastructure for restaking transactions and token management. Superchain Integration As part of the OP Stack ecosystem, Swellchain inherits Optimism's security guarantees and cross-chain capabilities. Applications can interact seamlessly with other Superchain protocols while maintaining Ethereum's security properties. This opens up a whole new way to create LRT based applications. Technical Architecture Swellchain combines standard L2 cost benefits with the previously mentioned MACH AVS integration for accelerated transaction finality. The Superchain's native bridging infrastructure enables efficient asset transfers between connected networks. Ecosystem Access Developers gain immediate access to an LRT-focused user base and existing DeFi protocols. The specialized nature of Swellchain creates natural integration opportunities with established restaking protocols. We’re aiming to become THE restaking hub for the superchain. Developer Resources We plan to introduce ecosystem funding initiatives to support builders creating LRT-focused applications. More on this in a later post. Network Configuration To interact with Swellchain, you need to add the following networks to your wallet: Mainnet: Chain Name: Swellchain Chain ID: 1923 RPC URL: https://swell-mainnet.alt.technology Block Explorer: https://explorer.swellnetwork.io Testnet: Chain Name: Swellchain Testnet Chain ID: 1924 RPC URL: https://swell-mainnet.alt.technology Block Explorer: https://explorer.swellnetwork.io The networks can also be added through ChainList . Developer Infrastructure Swellchain provides multiple integration points for developers building LRT applications. Bridge Infrastructure: Use the Swell Bridge to bridge assets between Ethereum and Swellchain: https://superbridge.swellnetwork.io/ The Standard Bridge contract enables asset transfers between Ethereum and Swellchain through a lock-and-mint mechanism. The addresses of the bridge, token contracts, and a more technical approach can be found in the Developer Docs: Contract Addresses The network implements a robust bridging system through the Standard Bridge contract, enabling: ETH transfers ERC20 token bridging Fast L1→L2 transfers (1-3 minutes) Secure L2→L1 transfers (7-day challenge period) RPC Endpoints To connect to Swellchain, you can use the following RPC providers: AltLayer RPC: Mainnet: https://swell-mainnet.alt.technology Testnet: https://swell-testnet.alt.technology More information: AltLayer Docs Ankr RPC Mainnet: https://rpc.ankr.com/swell Testnet: https://rpc.ankr.com/swell-testnet More information: Ankr Docs Development Tools If you want to build on Swellchain, visit our Docs ( https://build.swellnetwork.io ), where you can find everything you need to get started. Block Explorer: explorer.swellnetwork.io Bridge Interface: superbridge.swellnetwork.io Network Status: https://swell-mainnet-status.alt.technology Get in touch If you’re interested in building on Swellchain or would like to chat to the team, please fill out this quick form.
Ethena Labs: USDe and sUSDe are now available on Swell
Ethena Labs announced on X platform that USDe and sUSDe have been launched on Swell. It is reported that Swell has invested a large part of the entire chain incentive into Ethena assets and promised to use most of the sorter's profits to accumulate the liquidity owned by the sUSDe protocol.
Swellchain Wave 1: Bridge and Hold
Bridge your assets to Swellchain and hold before 12 am UTC on December 31st to get your share of 31,250,000 SWELL. Simply check your Portfolio to see the yield for holding assets on Swellchain, and then bridge to start earning. This Wave of rewards is the first of several to come in Wavedrop 3 , and will be followed by a second Wave in which you can earn $SWELL and Ecosystem Tokens by exploring dApps on Swellchain. How to bridge The following assets can be bridged: Swell: swETH, rswETH, swBTC, SWELL, rSWELL, earnBTC, earnETH Etherfi: weETH Kelp: rsETH Renzo: ezETH, pzETH Ethena: USDe, sUSDe (Ethena assets will go live on Swellchain with the upcoming launch of Tempest Finance, expected before the end of the week). Lido: wstETH ETH All bridged assets continue earning their native points and rewards, with the exception of USDe and sUSDe which must be deposited in Tempest to continue earning Sats. Or bridge via earnETH Alternatively, you can bridge the following tokens via earnETH to automatically get the best yields from Swellchain. Simply deposit the asset and sit back and relax. The vault will unwind the assets and continually deploy the funds to the top yield-earning opportunities on Swellchain—removing the need for you to manually allocate. Pendle: PT-weETH-26DEC2024, PT-ezETH-26DEC2024, PT-rswETH-27JUN2024, PT-weETH-27JUN2024 Symbiotic: DC_swETH, DC_wstETH, DC_cbETH Eigenpie: mmETH, mswETH, mstETH Mellow Finance: amphrETH Dinero: apxETH Bridge now: app.swellnetwork.io/swellchain/launch Pre-Launch Deposit rewards Rewards stop flowing to the Pre-Launch on December 19th 2024 at 11:59pm UTC. During the Pre-Launch, the following rewards were earned by depositors: Ecosystem Points The following tokens, representing 25% of the total Ecosystem Rewards, were earned by Ecosystem Point holders during the Pre-Launch: 5,000,000 ION (~0.5%)* 7,500,000 AMBIENT (~0.75%)* 5,000,000 BUBBLY (~0.5%)* 7,500,000 JIGSAW (~0.75%)* 5,000,000 TEMPEST( ~0.5%)* 5,000,000 NEPTUNE (~0.5%)* 10,000,000 SWELL (0.1%) (to be claimed by Ecosystem Point holders with Wavedrop 2). *Where total supply is unknown it is assumed to be 1B. Pre-Launch depositors also earned token allocations from Brahma, Versatus, Ditto, Drosera, and other yet-to-be-announced protocols. These remaining token allocations will be revealed before the end of Wavedrop 3. Tokens from ecosystem dApps will be claimable at the airdrops of the respective protocols. The remaining 75% of Ecosystem Rewards will be distributed through Wavedrops in proportion with $SWELL for using the respective dApps on Swellchain. Eigenlayer Points 1M Points were promised to depositors in the first 4 weeks of the Swell L2 Pre-Launch who stayed until the L2 launch. If you're eligible, the amount of EigenLayer Tokens you receive will be derived from the amount that you deposited in the pre-launch deposit contract, and the duration of your 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. Your EIGEN will be claimable on Swellchain via the Portfolio on the date of the Wavedrop 2 distribution, currently expected around January 10th. Mainnet rewards In addition to rewarding activity on Swellchain, Swell assets used in selected protocols on mainnet will still be rewarded with SWELL. These include: PancakeSwap: rswETH/ETH, swETH/ETH Ambient/Tempest: rswETH/ETH, rswETH/SWELL Morpho: rswETH deposit, ETH borrow Euler: rswETH deposit, ETH borrow Pendle: rswETH Dec 26, swETH Dec 26, rswETH June 26 (Swell will continue to vote with its EQB to optimize returns for Pendle LPs). Derive: rswETHC Karak: rswETH earnETH earnBTC Eigenlayer: swETH FAQ 1. How do I add Swellchain to my wallet? Swellchain is supported natively on Rabby and Zerion. For other wallets, you can add Swellchain address as a custom network using the following details: Chain Name: Swellchain Chain ID: 1923 RPC URL: https://swell-mainnet.alt.technology Block Explorer: https://explorer.swellnetwork.io Alternatively you can connect to the chain via ChainList . 3. How can I claim my Voyage airdrop on Swellchain? All unclaimed SWELL from Wavedrop 1 and the Voyage will be migrated to be claimed on Swellchain on the date of Wavedrop 2 distribution, currently expected before January 10th. Claims will temporarily close for around 48 hours before this as the migration takes place. 4. How can I claim my Wavedrop 1 on Swellchain? All unclaimed SWELL from Wavedrop 1 and the Voyage will be migrated to be claimed on Swellchain on the date of Wavedrop 2 distribution, currently expected before January 10th. Claims will temporarily close for around 48 hours before this as the migration takes place. 5. Will the loyalty multipliers continue from the previous Wavedrops? Yes, however the multipliers will not be restored in Wavedrop 3 (starting December 17th), and only from Wavedrop 4. 6. How long do I have to move assets out of the Pre-Launch? There is no time limit. Got questions? Ask the team in the Swell Discord server .
Swell has been launched on the re-pledge chain Swellchain
According to official news, Swell has announced that its re-pledge chain, Swellchain, is now online. Its goal is to build a scalable and decentralized rollup and protect the infrastructure through re-pledging. In addition, 31,250,000 SWELL will be distributed to everyone who bridged and held assets on Swellchain in the first two weeks. Users need to complete the bridge before 12:00 (UTC) on December 31st in order to get their share.
Repledge Platform Swell: Swellchain Officially Launched
The liquidity re-pledging platform Swell officially announced that the Optimistic Rollup Swellchain, based on the Optimism OP Stack, has officially launched. As a chain centered around re-pledged assets, it is built on the "Proof of Restake" mechanism and supported by Ethena Labs, EigenLayer and others. Users can share 31,250,000 $SWELL rewards by cross-chaining and holding assets before December 31st while exploring upcoming dApps like Euler Finance and Ambient Finance. Swellchain also builds an ecosystem around stablecoins $USDe and $sUSDe to provide liquidity rewards for DeFi users.
Swell announces that the re-staking chain Swellchain is now online
According to official sources, Swell has announced the launch of Swellchain, a re-staking chain that aims to build a scalable and decentralized rollup and protect infrastructure through re-staking. This vision will be achieved through Proof of Restake, which uses Swell's liquidity re-staking assets to protect Eigenlayer AVS and Symbiotic Networks, providing critical infrastructure and services to the network. Meanwhile, Swell has also launched two AVS: Ditto, which provides secure automation through its Keeper network, and Hyperlane, which provides interoperability for ezETH and pzETH. Prior to the launch of Swellchain, a pre-release deposit activity was initiated, accumulating over $1 billion in assets from Swell, Etherfi, Renzo, and other re-staking protocols. In addition, Swellchain is also part of Superchain, with other partners including Etherfi, Renzo, Kelp, Ethena, EigenLayer, and Symbiotic.
Wavedrops Update: Real Token Rewards
125,000,000 Swell Tokens will be dropped in Wavedrop 3! That’s right—no more points. Just tokens streamed into your wallet via a new reward mechanism that replaces both Black Pearls and Ecosystem Points . From December 17th, these points will stop accruing. Instead, you will be able to track your Wavedrop earnings onchain as wSWELL. wSWELL is simply a locked 1:1 wrapper for SWELL distributed via third-party protocol Merkl . As in Wavedrops 1 and 2, it can be earned by holding Swell assets or using approved DeFi Protocols. At the end of each Wavedrop, wSWELL can be redeemed for its full value of SWELL. Or any time earlier for a discounted amount. This new mechanism—enabled by the recent token launch—represents the realization of a long-held ambition. It enables Swell to let go of the tired points model, deliver more transparency and optionality, and return to the greatness of token rewards in the early days of DeFi! How it works Visit the Portfolio page in the Swell dApp to find the best APRs Deposit your assets and watch the number of your tokens go up Claim wSWELL at the end of the Wavedrop and unwrap it for SWELL! What about Ecosystem Points? If you're also earning Ecosystem Rewards in the form of Ecosystem Points in the Pre-Launch or Ecosystem Earn Vaults, you'll continue to receive Swellchain airdrops associated with those points. But from December 17th, these airdrop rewards will appear as the respective tokens in the Swell app, to be claimed once the corresponding ecosystem project airdrop goes live. Get ready to ride the first Wave of Wavedrop 3! The 125,000,000 SWELL set to be dropped in Wavedrop 3 will be made available in separate Waves, with the earliest riders of each Wave accruing a greater share of the fixed amount. At the start of each Wave, Swell will reveal the length of the Wave, the exact token amount to be distributed, and which activities will be rewarded—giving you an opportunity to position your assets to capitalize on the flow of SWELL. Stay tuned to find out what rewards the first Wave of Wavedrop 3 will bring when it starts on December 17th! FAQ What will happen to Ecosystem Points? Ecosystem Points will stop accruing to the Pre-Launch on December 17th. 25% of the tokens from ecosystem projects have been allocated to Pre-Launch depositors until December 17th. An additional 25% of the tokens from ecosystem projects will be distributed during the 10 week period of Wavedrop 3. The remaining 50% of tokens from ecosystem projects will be distributed in following Wavedrops. What will happen to Black Pearls? Black Pearls will stop accruing on December 17th and be replaced with SWELL rewards. Any Black Pearls earned in Wavedrop 2 can still be used to claim SWELL on the Swell City page on the date of the Wavedrop 2 distribution, currently expected around January 10th. Can I claim SWELL earned in Wavedrops early? SWELL earned in Ecosystem Wavedrops will be distributed daily through Merkl in the form of locked wrapper wSWELL, which can be unlocked whenever you choose. You can either wait until the end of the 10 week Wavedrop to get 100% of your SWELL, or claim early and sacrifice a portion of your tokens. 35% is unlocked immediately when you first claim wSWELL, and the remaining 65% unlocks linearly over the rest of the 10 weeks, reaching full unlock at maturity. You are free to redeem SWELL at any point during the unlock period, but any locked SWELL remaining will be forfeited and returned to the Ecosystem Allocation.. For example, Alice provides 10,000 liquidity to Neptune on Swellchain on December 17th and earns 100 wSWELL per week as rewards, with the APY displaying on the Swell app. After 5 weeks, she decides to transfer 500 wSWELL to her wallet. At this point the clock starts ticking to unlock 500 SWELL. She can immediately redeem 175 SWELL if she wishes (35% of her expected 500 SWELL at maturity). If she does this, however, all remaining 325 SWELL will be returned to the Swell DAO. If she decides to wait the full 10 weeks she will be free to redeem a full 500 SWELL at maturity. She can also redeem anytime in between to get a proportional share of the unlocked SWELL. She can also keep withdrawing wSWELL to her wallet at any time she likes. Each transfer starts a separate unlock schedule. Note that wSWELL is therefore a non-fungible asset, even though it has an ERC20-like interface. Will I be able to claim on Swellchain? Yes, future Wavedrop claims will take place on Swellchain. In addition, all unclaimed SWELL from Wavedrop 1 and the Voyage will be migrated to be claimed on Swellchain on the date of Wavedrop 2 distribution, currently expected before January 10th. Claims will temporarily close for around 48 hours before this as the migration takes place. How much wSWELL will be issued in rewards? The Wavedrop allocations are the same as previously announced: Wavedrops 2 and 3 will account for 1.25% of the supply each, followed by 1% for three Wavedrops thereafter, up to a total of 7.5%. These tokens will be distributed over each 10 week period, resulting in APRs which will be visible on the Swell app. The specific amount distributed will vary according to which activities are prioritized in each Tide. How will the rewards appear in the Swell app? SWELL APRs will be visible on the Swell app, including indicative APYs depending on whether you choose to hold or sell your wSWELL. SWELL rewards will also be visible on Merkl . Accrued Ecosystem Rewards will be visible in the form of tokens on the Swell app. Why is wSWELL locked? Locking SWELL over 10 weeks aligns with the distribution schedule outlined in the first Wavedrops announcement , and helps ensure a balanced and economical distribution of tokens to support long-term ecosystem growth. Will my Wavedrop bonus multiplier carry over into the new system? Yes, the same bonus multiplier system for riding consecutive waves will continue, with loyal stakers earning both SWELL and Ecosystem Tokens at a higher rate. Has Merkl been audited? Yes. The smart contract was audited by yAudit on October 2nd 2024. The audit was performed by two yAudit lead security researchers HHK and Panda.
Swell: 125 million Swell tokens will be released in Wavedrop 3 and there will be no more points
Swell has released an update called Wavedrops, which reveals that 125 million Swell tokens will be released in Wavedrop 3 without any points. Only tokens will flow into users' wallets through a new reward mechanism, replacing Black Pearls and Ecosystem Points. These points will stop accumulating from December 17th and will be tracked on-chain as wSWELL for Wavedrop earnings. Like Wavedrops 1 and 2, wSWELL can be obtained by holding Swell assets or using approved DeFi protocols. At the end of each Wavedrop, wSWELL can be exchanged for SWELL or discounted amounts even earlier.
Deep Dive | December 2nd
With our token launch successfully completed and the tailwind of a bullish market propelling us forward, we’re charting a steady course towards the highly-anticipated launch of Swellchain. Other exciting news includes a call for governance delegates to join the Swell DAO, the migration to Optimism, and the launch of the earnBTC vault. Dive on in to explore all the latest developments from across the Swell ecosystem. ✨ $SWELL claims are open! Voyagers can head on over to the Swell app to claim your $SWELL tokens, or restake your $SWELL for rSWELL and pre-deposit it in Swell L2 to earn boosted rewards! You can learn more about SWELL, including utility, distribution, and how to maximize your airdrop in our tokenomics. Learn more about SWELL tokenomics $SWELL earned in Wavedrop is also now available to claim on the Swell City dashboard! Claims are open for 30 days. Don’t forget that you can continue to ride the famous waves of Swell City and earn Black Pearls by simply holding swETH, rswETH, swBTC, and rSWELL, or using them in supported DeFi integrations. Learn more about how to earn Black Pearls with Swell! 🔴 Swell L2 is Migrating to Optimism Swell L2 will join the Superchain as an Optimistic Rollup built on the OP Stack. The move will see Swell L2 join the likes of Base, Unichain and Mode as an Optimistic Rollup, and become the restaking hub for the Superchain. As part of this strategic transition, Swell will move away from the Polygon CDK, but continues to believe in the aggregated ecosystem that Polygon is building. Learn more about Swell L2 on Optimism ⛓️ Swell L2 Updates Swell L2 Devnet is live Earlier this month we successfully launched the Swell L2 Devnet, and have been working closely with a number of top protocols that have since deployed their dApps on the Devnet to test the Swell L2 experience prior to launching to the public. We are now in the final stages of readying Swell L2 for mainnet, which will introduce real assets and app deployments that will bring restaking yield and security to the Superchain. Swell L2 is expected to launch in mid-late December! Drosera will be airdropping to Swell L2 pre-depositors Drosera has joined the list of protocols that will be airdropping to Swell L2 pre-launch depositors. The decentralized security protocol provides trustless incident response for Web3, and will protect activity on Swell L2. 📣 Calling all future Swell Delegatooors We are on a mission to transform the landscape of liquid restaking and we invite you, the Swell community, to join us. As a Swell DAO delegator, you will play a pivotal role in our ecosystem, empowering our community and driving our platform forward. You will be actively involved in governance, contributing to discussions, and shaping the future of Swell L2, all while being an influence within our DAO and the broader restaking ecosystem. We invite you to join us in shaping the future of the restaking yield layer by filling out the form below, and letting us know why you would be a great fit as a genesis delegate for Swell L2 Governance. Apply to become a Swell Delegate 🍸Swell Swoiree The Swell team showed up at Devcon and welcomed L2 builders to our Swoiree in downtown Bangkok. Special thanks to our Sponsors Chainlink, AtlLayer, Hemi, Radius, and Symbiotic. Thanks to everyone who came to the Swell Swoiree at #Devcon2024 . Including our Sponsors @Chainlink , @Alt_Layer , @hemi_xyz , @radius_xyz , and @symbioticfi . Stay Swole. pic.twitter.com/hD4U3MT97T — Swell 🌊⛓️ (@swellnetworkio) November 19, 2024 🏦 Introducing earnBTC Our newest Earn vault gives you an opportunity to earn yield and points on one of today's hottest assets — bitcoin! Deposit your preferred form of Ethereum-based BTC in the vault to effortlessly earn both maximal risk-adjusted DeFi yield, and a selection of BTCFi points. Deposit in earnBTC 💲 earnETH Fee Changes Forget complex platform and performance costs – the earnETH vault now charges a simple ~2% fee.. Deposit swETH, rswETH or supported LSTs to effortlessly earn points and best-in-class DeFi yield. Deposit in earnETH 💧 Liquidity Mint tETH with rswETH on Eclipse tETH combines the largest yield-generating protocols on Ethereum into one easy-to-use default yield token. Mint tETH with rswETH $SWELL on Symbiotic $SWELL has been added as collateral on Symbiotic with the cap filling up fast! Restakers can collect 10x Black Pearls and Symbiotic Points when they deposit. Stake SWELL in Symbiotic New rswETH Pool on Pendle The Swell rswETH pool (26 June 2024) has set sail on Pendle’s seas. Deposit your rswETH to ride the waves of mega yield for Black Pearls. Deposit in the rswETH Pendle Pool rSWELL Pool on Spectra Choose between providing liquidity, locking in fixed yield, or levering up on Black Pearls with rSWELL on Spectra. Deposit rSWELL in Spectra rswETH/ETH Pool on Tempest Finance Simply deposit $ETH and let the AI-powered vault automatically capture both swap fees and arbitrage from depeg events. Plus depositors earn Ambient Points and 3x Black Pearls. Deposit ETH in Tempest rswETH Migration on Karak rswETH is among the first assets to the be integrated in Karak V2. Migrate now to be ready to delegate and earn real yield. Migrate today 🎙️ Spaces and Podcasts The Future of SWELL We hosted a Community Space where we covered the launch of SWELL, rSWELL, and Proof Restake ahead of our token generation event. Listen to the recording Gate.io x Swell AMA Daniel and Abi joined the Gate team to celebrate the launch and listing of $SWELL, as well as answer the community’s top questions! Listen to the recording 📣 Top Tweets Learn how the Proof of Restake flywheel will drive boosted yield towards Swell assets. 🧵A Thread | The Proof of Restake Flywheel🧵 pic.twitter.com/dHHNCU8R8u — AV | Research (@AVResearchAV) November 14, 2024 Four Pillars explores the pioneering Superchain ecosystem that Swell will join. https://t.co/XcXEzTxg1M — Four Pillars (@FourPillarsFP) October 29, 2024 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 .
Introducing earnBTC
earnBTC makes it easy to earn both points and yield on bitcoin! Simply deposit your preferred form of Ethereum-based BTC, then sit back and relax. You will automatically earn both maximal risk-adjusted DeFi yield and a selection of BTCFi points—without needing to continually navigate the waves of the market to find the best opportunities. How it works Deposit your favorite form of Ethereum-based BTC Your BTC will be deployed in DeFi and will also earn multiple points Withdraw at any time subject to a 7 day cooldown period Supported assets Swell BTC (swBTC) Wrapped BTC (WBTC) Coinbase Wrapped BTC (cbBTC) Fire Bitcoin (FBTC) from Ignition solvBTC (SolvBTC) from Solv pumpBTC (pumpBTC) from Pump Threshold BTC (tBTC) from Threshold Network Lombard BTC (LBTC) from Lombard Finance Lorenzo BTC (stBTC) from Lorenzo Protocol Binance Bitcoin (BTCB) Coming soon… Rewards DeFi yield from whitelisted protocols including Curve, Morpho, Pendle PTs, and Ion. 3x Nucleus Points 3x Black Pearls PumpBTC Points FBTC Sparks Solv Points Babylon Points Lorenzo Points (coming soon) Points earned on the various different forms of Ethereum-based bitcoin deposited in the vault are socialized among all depositors. Built on Nucleus Swell’s Ecosystem Earn vaults are built on Nucleus , which is developed by the same team behind Ion Protocol, one of the major ecosystem DApps building on Swell L2. The strategy for the vault is provided by Nucleus. Fully audited Nucleus is built on the same code as the widely used Seven Seas vault, which is audited by 0xMacro, Spearbit and Pashov . Low fees earnBTC depositors pay total annual fees of roughly 1-1.5% in accordance with vault performance. These fees comprise: Platform fee (0.5%) Performance fee (10% of yield accrued) For example, If the vault accrued 10% yield over 12 months, a depositor of $10,000 would be charged a performance fee of $100 and a platform fee of $50. The net vault yield would be $850 (8.5%). Alternatively, if the vault accrued 5% yield over 12 months, the same depositor would pay a performance fee of $50 and a platform fee of $50. The net vault yield would be 4% ($400). On withdrawal, a fee of 0.01%-0.5% is paid to the Solver to fulfill the withdrawal request. This includes the gas fee for redeeming the shares for assets, with only a small gas fee paid to initiate the withdrawal. Deposit now: https://app.swellnetwork.io/earn/earnbtc FAQ What is earnBTC? earnBTC is the receipt token of the vault. Are the vaults audited? Nucleus is built on the same code as the widely used Seven Seas vault, which is audited by 0xMacro, Spearbit and Pashov . Which assets can I withdraw into? Any deposit assets. Are Black Pearls earned on all deposits to the vault? Yes, Black Pearls are earned on all assets deposited to the vault, including non-Swell assets.
Swell Activates L2 Devnet
Following months of research and development, we have successfully launched the Swell L2 Devnet! The Devnet is a permissionless network for testing the core functionality of Swell L2, and provides a secure sandbox environment for the initial growth of Swell's DeFi ecosystem. Please note that the Devnet is not incentivized. Calling all builders The first wave of Swell L2 builders are now invited to deploy their dApps on the Devnet for the purposes of testing, identifying potential issues, and fine-tuning the Swell L2 experience without impacting real users or assets. In addition, the Devnet provides an opportunity for developers to influence the L2 roadmap and forge relationships with other genesis projects in the fledgling ecosystem. Why Swell L2? Swell L2 — the restaking yield layer — will be the hub for restaked assets on the Optimism Superchain. The network is built on the OP Stack and powered by a unique Proof of Restake (PoR) incentive mechanism. Proof of Restake uses liquid restaked assets to secure the infrastructure providing key infrastructure and services, which in turn secure the chain. This maximizes the capital efficiency of staked assets, and sets a unique flywheel in motion to drive growth, liquidity, and the creation of a unique DeFi ecosystem. What’s next? The Devnet launch represents the first concrete step towards realizing the vision of Swell L2. Next up, the Swell L2 mainnet will introduce real assets and app deployments. If you’re interested in deploying on Swell L2, please reach out to us .
Swell L2 is now live on Devnet
Swell Network announced that Swell L2 has been launched on Devnet as a secure testing environment for re-pledge agreements on X. Swell noted that this Devnet is not an incentive testnet.
SWELL surged briefly to $0.065, with a 24-hour increase of 43.2%.
According to market data, SWELL briefly surged past $0.065, currently quoted at $0.063, with a 24-hour increase of 43.2%. The market value is temporarily reported as $8.273 million, and the FDV is temporarily reported as $635 million.
Today's Must-Read | Twitter Featured Views [November 8th]
1.Zoomer Oracle: $SMILE Potential Analysis Trading viewpoint: Project Background: $SMILE is a stablecoin lending protocol based on Bitcoin, similar to the "Asian version of MakerDAO". It has now been launched on Bybit and coincides with Bitcoin's new historical high. Market timing: Trump's election brought bullish market sentiment, and DeFi projects also saw a general rise. Project features: $SMILE is an Asian project with a total supply of 210 million, a circulating market value of about 12 million US dollars, and an FDV of about 88 million US dollars. Bullish factors: BTC ecosystem drive (especially after BTC ATH), DeFi track, new currencies, lower FDV, and have not yet attracted widespread market attention. Latent risk: liquidity issues, similar to the challenges of most recent new projects. Investment strategy: hold small positions, expect to hold in the medium term, and sell when the BTC ecosystem reflects this upward trend. See the original text: https://x.com/ZoomerOracle/status/1854183282642223597 2.Second, Lao Bai: BTC/KRW hit a new high, focusing on the potential of $MEW Trading viewpoint: BTC/KRW broke through historical highs, attracting widespread market attention. Against this backdrop, $MEW, as the only cat token traded on Upbit with Korean Won (KRW) besides Doge and Shib, has unique scarcity. $MEW has broken through a long accumulation period and is currently retesting historical highs. Although it has not experienced several times the increase of other meme coins, it has potential. In terms of trading volume, $MEW has ranked in the top 20 and top 8 on Upbit and Bithumb. If it enters the top 2 again, the expected price may be repriced to 0.02 dollars - 0.03 dollars. See the original text: https://x.com/resdegen/status/1854592075695784049 3.Unipcs: Optimistic about the future trend of $FLOKI Trading viewpoint: $FLOKI is one of the memecoins I am most optimistic about this cycle. Historical Performance: The fourth quarter usually performs well for FLOKI. In November 2021, it reached a historical high in the previous cycle. Catalyst: The highly anticipated Valhalla Metaverse game will be launched on the 28th of this month, which may become the driving force for FLOKI's next big trend. See the original text: https://x.com/theunipcs/status/1854559312967823771 4.Mr. Pips: $SWELL Investment Perspective Transaction reason: ETH is in good condition, especially the performance of ETH beta, especially Eigen as an emerging beta project in the market. SWELL has a market capitalization of $44 million and a fully diluted market capitalization (FDV) of $345 million, with a token economy model similar to recent listings such as Deep, Carv, and Grass. The project supports perpetual contracts. The airdrop effect was not good, and the airdrop farmers did not sell as expected, resulting in a low market circulation supply. The airdrop was launched 12 hours ago, and the market impact was relatively small. Forecast: Under current market conditions, $SWELL is expected to easily triple to a market cap of $132 million and FDV of $1.03 billion. See the original text: https://x.com/mrpipsphd/status/1854721275786383815 5.Bit into: secondary positioning allocation strategy Trading view Heavy positions in currencies: Coins suitable for heavy positions are generally listed on top exchanges, have been deposited in the secondary market for more than 6 months, have a continuous bottom absorption for 3 months, and are fully circulated. Example: MEW, MYRO, BOME, TAO, ORDI, SATS, RATS, METIS, ARKM, APE. Zhongcang Currency: Having a record of listing with more than 3 major firms, the secondary market has been settled for about 6 months, and there are signs of institutional investors absorbing funds at the bottom. Example: PEPECOIN, NEIRO, 1000cat, PIZZA, DOG, DYM, STRK, SAGA, SKL, MANTA, MERL, ELON, PIXEL, YGG, PORTAL, BIGTIME, WLD, TIA, TRU, MASK, ETHFI, ENS. Note: This type of currency may not be suitable for heavy positions and needs to be determined after in-depth research. Light position currency: Coins suitable for light positions are generally listed on several small exchanges, with low market value, poor liquidity, and low market attention. However, there is a correction in the secondary market for more than six months. Example: ETHS, ATOMARC, QUARK, MSN, BILLY, APU, SILLY, TROLL, SEAL, PANDORA. Ant Warehouse Currency: Mainly on-chain coins, with good narrative and popularity, after about a month of adjustment. Example: TERMINUS, DOGGO, MOODENG, KHEOWZOO, PNUT, BAN, ACT, GOAT. Summary of viewpoint: The tenfold return on the secondary market is still worth paying attention to. Maintain a "slow is fast" mentality in investment strategy. See the original text: https://x.com/roger73005305/status/1854683988209840540 6.Mr. Pips: $SWELL Investment Perspectives Transaction reason: ETH is in good condition, especially the performance of ETH beta, especially Eigen as an emerging beta project in the market. SWELL has a market cap of $44 million and a fully diluted market cap (FDV) of $345 million, with a token economy model similar to recent listings such as Deep, Carv, and Grass. The project supports perpetual contracts. The airdrop effect was not good, and the airdrop farmers did not sell as expected, resulting in a low market circulation supply. The airdrop was launched 12 hours ago, and the market impact was relatively small. Forecast: Under current market conditions, $SWELL is expected to easily triple to a market cap of $132 million and FDV of $1.03 billion. See the original text: https://x.com/mrpipsphd/status/1854721275786383815 7.Lao Bai: PayFI, AI Agent, Meme - Overview of the new main line of this round Core viewpoint: The market trend of this round is gradually becoming clear, and it is expected to revolve around the following three tracks. PayFI - Achieving Real-World Connectivity The PayFI project has been active recently, and Stripe's acquisition of Bridge for $11.10 billion is a landmark event. PayPal's PYUSD publishing volume has exceeded $500 million, Visa and Mastercard's supply chain finance solution, Osmosis, scrvUSD, and others are also exploring Crypto Debit cards. The encrypted payment system solves the problem of low efficiency in traditional payments and can meet real user requests. PayFI may be the key track for Web3 to achieve mass popularity. AI Agent - Enhanced On-Chain Experience Unlike traditional concepts such as "model assetization", AI Agents have unique innovations in Crypto, such as AI asset issuance, AI ShitPost, and AI Agent DAO in the $GOAT project. This is a new field that Web2 cannot achieve and Web3 cannot complete alone. It is currently regarded as the most promising combination of AI and Crypto. Meme - on-chain casino, the core of the PVP track Pump.Fun opened Meme's Market Positioning. The Meme project acknowledges the PvP nature of the Crypto community, which is a way to satisfy entertainment and gaming. However, the Meme track is not the entire industry. When more valuable tracks emerge, it will return to its supporting role. In the future, Meme may become a barometer and market activity signal in bull and bear cycles. See also: https://x.com/Wuhuoqiu/status/1854379439666454745
Another Restaking track project will airdrop tonight. Is there still a chance to participate in Swell?
Original | Odaily Planet Daily ( @OdailyChina ) Author | Asher ( @Asher_0210 ) Yesterday, Ethereum re-staking protocol Swell Network announced on the X platform that its token SWELL will be available for claiming at 17:00 Beijing time on November 7 (claim link: https://app.swellnetwork.io/dao/voyage ). Tokens can be claimed within 6 months after the claim is opened, and unclaimed tokens will be returned to the DAO for future plans. And SWELL tokens will be listed on major centralized exchanges at 18:00 . According to official information, SWELL will be listed on centralized exchanges such as Kucoin , Huobi HTX , Bitget , Bybit , and MEXC . Next, Odaily Planet Daily will take you to quickly understand the Ethereum re-staking protocol Swell Network, its token economic model, and how to participate in the second season airdrop event. Project Introduction Image source: Official Twitter Swell is a non-custodial liquidity staking protocol that is committed to providing the worlds best liquidity staking experience, simplifying access to DeFi, while ensuring the future security of Ethereum. It leverages a diversified AVS and a rich ecosystem of innovative applications (including Ion, Brahma, Ambient, etc.) to achieve re-staking upgrades. Through Swell, users can earn passive income by staking ETH, earn blockchain rewards, and receive a yield-generating liquidity staking token (LST) to hold or participate in the broader DeFi ecosystem to earn additional income. It is worth mentioning that Swell L2 is migrating to the Optimism Superchain . This move will allow Swell L2 to join the Superchain as an Optimistic Rollup built on the OP Stack. According to ROOTDATA data , in March 2022, Swell Network announced the completion of a US$3.75 million seed round of financing, led by Framework Ventures, with participation from IOSG Ventures, Apollo Capital, Maven 11, angel investor Mark Cuban, Synthetix co-founder Kain Warwick and Jordan Momtazi, Balancer founder Fernando Martinelli, Ryan Sean Adams, Bankless co-founder David Hoffman, Ren Protocol co-founder Loong Wang and Mask Network founder Suji Yan. Token Economic Model According to official documents, the total supply of Swell Network token SWELL is 10,000,000,000 , and the TGE supply accounts for 13% of the total, which is 1,300,000,000 . The specific distribution ratio is as follows: Community: 3,500,000,000 SWELL, accounting for 35% of the total supply, mainly including three parts. First, Voyage (first quarter airdrop activity), accounting for 8% of the total supply; second, Wavedrops (second quarter airdrop activity), accounting for 7% of the total supply; third, the launch pool, 135,530,000 SWELL will be used for the launch fund pool and marketing to support the listing and issuance of SWELL on the exchange, and the remaining tokens will be used for strategic purposes related to the community, ecosystem and strategic incentives; Team: 2,500,000,000 SWELL, accounting for 25% of the total supply, allocated to current and future core contributors and advisors of Swell DAO. This portion of tokens will be locked for 12 months after TGE and unlocked linearly over the next 36 months; Early fundraising: 2,500,000,000 SWELL, accounting for 25% of the total supply, allocated to private investors who provide funding, expertise and other support in the early stages of Swell protocol development. This portion of tokens will be locked for 12 months after TGE and unlocked linearly over the next 30 months; Foundation: 1,500,000,000 SWELL, 15% of the total supply, reserved for strategic initiatives aligned with Swell’s overall vision and mission, including L2 expansion, product development, ecosystem growth, resource allocation, network expansion, and Swell’s long-term growth and sustainability positioning. 8.5% of the supply is allocated to the Voyage airdrop, 7% of the total supply will be distributed linearly based on the White Pearls accumulated by each Voyager, and an additional 1.5% will be distributed to the most loyal stakeholders based on their loyalty bonus method. The rSWELL contract is: 0x358d94b5b2F147D741088803d932Acb566acB7B6; The SWELL contract is: 0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676. Wavedrops Season 2 Swell Network’s first season token airdrop event Voyage completed the snapshot and ended on July 30, but the second season token airdrop event Wavedrops was launched immediately afterwards (project official website: https://www.swellnetwork.io/ ). In the Wavedrops event, every 10 weeks is a cycle, and users can obtain Black Pearls through staking. After each cycle, they can exchange the obtained Black Pearl shares for SWELL tokens. According to official information, in order to reward early users, the first wave cycle will allocate 2% of the total supply , the second and third wave cycles will each allocate 1.5% of the total supply , and the subsequent wave cycles will only allocate 1% of the total supply . At the same time, there will be bonuses for continuous participation in multiple wave cycles, and the specific bonus coefficients are as follows: The relationship between the number of wave cycles involved and the bonus OTC Trading Quotes According to AEVO pre-market trading data, the price of SWELL has continued to fall since the opening, and is currently trading at $0.0443. Affected by the upcoming token airdrop, the 24- hour price increase is 22.48%, and the 24 -hour transaction volume is approximately $3.7 million. SWELL trading data on the AEVO platform
Today's Top 5 Gainers: SWELL has increased by 1,074.43% in the last 24 hours
Bitget market data, today's top 5 tokens in terms of increase are SWELL, PNUT, GODL, ZZZZ, SXCH. Specifically: SWELL has increased by 1,074.43% in the last 24 hours and is currently priced at $0.035233; PNUT has increased by 951.00% in the last 24 hours and is currently priced at $0.1051; GODL has increased by 209.13% in the last 24 hours and is currently priced at $0.009274; ZZZZ has increased by 143.42% in the last 24 hours and is currently priced at $0.02091; SXCH has increased by 135.66% in the last 24 hours and is currently priced at $0.0337.
Proof of Restake: The Pioneering Mechanism Underpinning Swell L2
Swell L2, the restaking yield layer, 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 infrastructure providing key services to the rollup, which in turn secure the chain. This maximises 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 Swell L2 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 Swell L2 — 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 Swell L2 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, Swell L2 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 Swell L2 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!
SWELL Opens at $0.05, Bitget Launchpool Now Open for Playing
According to Bitget, SWELL opened at $0.05 and is now trading at $0.03. Bitget's current Launchpool project, Swell (SWELL), is now open for play, with a total pool of 19.5 million SWELLs. The lockup will be open from November 7 at 18:00 - November 14, 2024 at 18:00 (UTC+8). November 7, 18:00 - November 14, 2024, 18:00 (UTC+8). BGB Locked Pool: Pledge range for regular users: 5-20,000 BGBs. Pledge range for VIP users: 5-50,000 BGBs. Total prize pool: 16 million SWELLs. USDT Locked Pool (for new users): Pledge range: 5-2,000 USDT Total prize pool: 3.5 million SWELL
Filled orders
Delivery scenarios
