New opportunities are opening up in the welcoming waters of LRTfi 🌊
Feb 12, 2024
EigenLayer swETH deposits have closed with 209,000+ now restaked, but new opportunities are opening up in the welcoming waters of the LRTfi ecosystem.
Through partnerships with other leading LRT providers, we've launched pools on Curve and Balancer that enable rswETH holders to earn triple and quadruple points respectively. Several more innovative DeFi opportunities are also in the pipeline for rswETH!
Join us in this fortnightly Deep Dive to get all the recent highlights from Swell.
💎 swETH Deposits onEigenLayer
swETH deposits on EigenLayer opened for four days last week, and closed on Feb 9th at 20:00 UTC.
swETH remains the second-largest LST on @EigenLayer with 209,000+ swETH restaked! This represents ~15% of all restaked LSTs, leaving lots of room before any potential reward caps are hit.
Although swETH deposits on EigenLayer are now closed, you can still earn Pearls and EigenLayer Points by purchasing the newly launched Restaked Swell Ether (rswETH) — which gives you uncapped access to EigenLayer restaking without the need to lock your liquidity.
Plus, you can get a 30 Pearl bonus for every rswETH you mint through the app.
By simply holding rswETH you will earn:
100% staking yield from the rewards earned by staking your ETH with Swell. rswETH holders will pay zero fees for 30 days from launch.
Pearls representing your share of the Swell Voyage airdrop. rswETH holders earn the same Pearls as swETH holders. That includes 30 Pearls per minted rswETH, ongoing Pearls for holding rswETH, and ongoing Pearls at a higher rate for using rswETH in approved DeFi protocols. Pearls will be redeemable for $SWELL tokens at the TGE, scheduled for late Q1.
100% EigenLayer Restaked Points. Swell passes all the Points earned on EigenLayer directly to restakers.
Future restaking rewards, when EigenLayer onboards Actively Validated Services to mainnet.
A Closer Look at Actively Validated Services | Space
We were joined by the teams from AltLayer, LaGRANGE, Witness Chain, Omni Network and Mangata to discuss what a restaked rollup is and how Actively Validated Services (AVS’s) harness restaked ETH for cryptoeconomic security. Listen to the recording.
Our Chief Liquidity Surgeon Abi joined industry experts from Lido, Diva, Redacted Cartel, Ether.fi and Rocket Pool in Scroll’s latest Space to discuss the emergence and evolution of Ethereum’s Liquid Staking landscape.