Catch up on everything from new swETH integrations to the latest app features in this fortnight’s Deep Dive.
Aug 2, 2023
Stormy weather is washing over DeFi, with concerns about the health of Curve creating uncertainty and turbulence across the market.
Nevertheless, growth has continued at Swell. We are still rising up the liquid staking leaderboard, with around 44,000 ETH staked by more than 10,000 unique stakers at last count. This has been matched by a rise in the number of swETH integrations, including our very first collateralized debt protocol: Gravita.
Without further ado, let’s wade into the water of this fortnight’s Deep Dive.
💰Buy swETH at a discount
We've introduced a new feature to the app that links to ParaSwap, where you can currently get a discount for buying swETH on the secondary market. Data is provided by our oracle partner Redstone.
More than 10,000 pearl hunters have now joined the Voyage by staking ETH for swETH.
And, with almost 45,000 ETH staked, we are around 90% of the way to the first community milestone bonus. This will be unlocked when we hit 50K ETH, and will result in the total size of the voyage airdrop allocation increasing from 5% - 7%.
🧪 Earn 2x pearls by migrating your Balancer swETH liquidity
As part of Balancer’s composable stable pool migration, swETH LPers in Balancer’s Boosted swETH Pool (swETH-bb-a-WETH) need to migrate their liquidity to continue receiving Balancer incentives. This includes LPers in protocols built on Balancer, such as Aura, Pendle, Penpie, and Equilibria.
To help incentivize the migration, we are now offering a 2x pearl boost for LPers in the new Balancer pool.
We have prepared the following guide that includes step-by-step instructions to help you migrate your liquidity between the pools.
Our dedicated swETH pool on Pendle is now LIVE, making it the first pool to ever be deployed externally.
You can LP into the pool today with either swETH or ETH, with all ETH deposits automatically converting to yield-earning swETH. Users need to ensure they enable ‘Zero Price Impact Mode’ to avoid any potential loss of funds due to slippage.