Swell's vision of building the LST for DeFi is coming to life.
As waves of excitement have washed over the market in the last two weeks, we've pushed ahead with development: releasing the Earn page — which provides a portal to the swETH ecosystem — and setting forth plans to ride the rising tide of restaking. At the same time, we've also deepened and expanded Swell's integrations across DeFi and been featured by top threadoors.
Read on for the latest highlights from the Swell DAO.
✨Introducing Swell Earn
Swell has launched a brand new feature that allows users to monitor yield strategies, explore the ecosystem, and deploy swETH to DeFi — all within the app!
EigenLayer’s recent LST contest has come to an end.
The Swell community rallied hard, securing 15,000 votes within an hour and taking us straight into second place with an incredible 57.8k votes! This means we will see swETH restaking available on EigenLayer in the coming months.
Stay tuned for more information!
🚢 Swell set to enter Liquid Restaking with rswETH!
Liquid staking is a new category that has quickly emerged in the liquid staking space and we have put the rumours to rest to let you all know that a new liquid staking token is fast approaching — rswETH!
Restaked Swell ETH (rswETH) is a LRT that unlocks liquidity for restaked LSTs, and enabled simplicity, liquidity, and flexibility to use your LRT in DeFi.
The introduction of rswETH will unlock new opportunities to secure both Ethereum and EigenLayer for more rewards, coupled with multi-faceted risks. These include technology risk, slashing risk, centralization risk, rehypothecation risk, and more.
Super swETH is flying high, with deposits hitting 4,700+ ETH in just over three weeks.
This steady growth is helping us achieve our goal of diversifying the Ethereum staking market by providing better yield for stETH and ETH holders.
When TVL in the vault gets closer to the threshold of 10,000 ETH deposited, all the stETH deposited in the vault will be swapped into swETH.
🤝 Swell Partners with the Secure Staking Alliance
Recently, the Secure Staking Alliance launched to make restaking more secure.
As a founding member, Swell is proud to help establish Secure Staking Alliances’ foundations for secure and reliable staking infrastructure.
🧑🚀 Pearls for Gravita Vessels
Gravita recently raised the mint cap for swETH to $4M and we are rewarding new and old users with Pearls for borrowing against swETH.
Voyagers who collaterize their swETH on Gravita will earn 2x Pearls until the 22nd of November, and are eligible to earn Marks in Gravita's Ascend Program. Once the two week period ends, Pearl rewards will revert back to a standard 1x LPing rate!