As the Swell Voyage progresses and more stakers join, swETH is getting even more useful.
More than 9,000 Voyagers are now collectively staking more than 39,300 ETH, and a new integration with Gravita has unlocked borrowing functionality for swETH. This is the first of many similar lending integrations to come, and unlocks multiple new LSDfi strategies.
Take the plunge into this fortnight’s edition of your Deep Dive to learn more, and get all the highlights from everything else going on at Swell!
🧑🚀 Borrow against your swETH on Gravita
Swell has officially integrated with Gravita, enabling stakers to pledge swETH as collateral to borrow USD-pegged stablecoin GRAI.
Stakers borrowing against their swETH benefit from:
- Access to stablecoins that can be deployed elsewhere or spent
- Continued exposure to staking rewards and upside potential on the underlying ETH
- Cost-efficiency with interest-free loans up to 80% of the swETH value
Note that depositors on Gravita do not currently earn pearls in the Swell Voyage.
Borrow GRAI against your swETH
🏦Fee update
As we set our sights on Chapter 2 of the Voyage, we are putting the final touches to our tokenomics plan that will help drive value to pearl hunters.
As such, we have now closed the zero fee promotional campaign, and the protocol has reverted to a market competitive staking fee of 10%.
🚢 Swell Voyage
Test your luck in the Swell Beach Club!
If you hold or LP at least 1 swETH, you can now access our exclusive Discord channel where you can win pearls through giveaways and contests!
Leaderboard > Voyage map
The Swell Voyage is about community, not competition.
That’s why we’ve replaced the leaderboard with a Voyage map, enabling you to track your progress through different liquidity providing opportunities and pearl challenges (plus, a sneak peek of what’s to come in Chapter 2.)
🙋Twitter Spaces and Podcasts
The Future of LST Liquidity | A Twitter Space with Tokemak
We were joined by the team from Tokemak to discuss their approach to liquidity management and the role they will play in the future of liquid staking token (LST) liquidity.
Validators and LSTs | DaoChemist Twitter Space
Swell Founder Daniel joined DaoChemist’s Twitter Space panel to discuss Ethereum validators and LSTs.
Know Everything About LSDfi | HyperPay Twitter Space
Swell Founder, Daniel, recently joined HyperPay’s Twitter Space to discuss the hottest crypto narrative this summer: LSDfi.
💧swETH Liquidity
GRAI/swETH lands on Bunni
Incentives are LIVE on Bunni. You can now earn yield both on your collateral and your debt. Open up a Gravita Vessel using swETH, then head to Bunni to zap into the pool.
Note: this pool is not currently eligible for pearls in the Swell Voyage.
swETH Whitelisted on Yearn
swETH has been whitelisted as one of the first five protocols in Yearn’s LST basket: yETH.
unshETH increases swETH target weight
Due to Swell’s recent growth, the swETH target weight in unshETH was increased to 10%, with a 14% maximum weight.
Read the governance proposal
📣 Top Tweets
Swell made Bankless’ list of early-stage contenders in the LST space
LSTMaximalist released a deep dive thread on Swell
LSDfi summer is still heating up...
Join the Swell Community
Expect to receive your next edition of the Swell Deep Dive in two weeks.
Until then, stay up-to-date by joining us in Discord and on Twitter.
