Swell has been making big splashes over the last two weeks.
We’re celebrating two successes; with both surging deposits in the newly launched Super swETH vault, and a strong voter turnout in the recently opened EigenLayer LST contest.
So lower your diving mask, strap on your oxygen tank, and slip beneath the waves — there’s lots to discover in this fortnight’s Deep Dive!
🩸 Introducing Super swETH
Swell is on a mission to secure and diversify Ethereum with the newly launched Super swETH Enzyme Vault, which has already attracted more than $7M in deposits.
You can deposit stETH and ETH in the vault to receive boosted rewards that include: Pearls for the upcoming Swell Voyage airdrop, yield from staking rewards and 100% of redirected DAO revenue.
The earlier you deposit in the vault, the higher the Pearl-earning multiplier that you will lock in until the vault matures in April 2024.
Note: Users who withdraw from the vault before maturity will have their bonus pearls clawed back.
Deposit stETH
Learn more about the Super swETH Vault
🗳️swETH Restaking on EigenLayer
swETH was the first to hit the 15K ETH voting threshold on Jokerace across Mainnet and Mantle, and is now set to be integrated with EigenLayer.
Voting will end on November 8th, and until then you can earn Pearls for every LST or restaked ETH that you use to vote for Swell.
Please continue to vote to help ensure the prioritization of swETH as a restaking LST in EigenLayer's whitelisting process!
🚢 Drafting the Swell City Charter
We recently published a post on our forum, setting out our vision and strategic direction and outlining a number of features that are currently in development.
Further details will be shared over the coming weeks on each of the exciting development areas as we move towards creating the LST for DeFi.
Read the Swell City forum post
💎 Vote for swETH on Penpie or Equilibria to earn Pearls
You can now get 1 Pearl for every 10 vlPNP on Penpie, or 500 vlEQB on Equilibria, that is used to vote on swETH pools.
Pearls will be distributed and shown on the Voyage dashboard the week after the voting epoch ends.
Vote on Penpie
Vote on Equilibria
🙋Twitter Spaces and Podcasts
Super swETH vault walkthrough
Moss from Enzyme joined us in Discord last week to look behind the door of the Super swETH vault.
Keep an eye on Swell's Twitter account for a soon-to-be published recap of the event.
Incentivizing a healthy liquid staking market
We were joined by decentralized staking advocates SuperPhix, Nixo, and Hanni Abu for an insightful discussion on how best to create a healthy liquid staking market.
Listen to the recording (part 1)
Listen to the recording (part 2)
The State of LSDFi | Twitter Space with The Rollup
Our Head of Growth, Baley popped into The Rollups Twitter Space panel to discuss Swell, the Voyage and LSDFi.
Listen to the recording
Arbitrum Space
Baley also joined Arbitrum’s dedicated Space with Swell Network.
Synergies and Opportunities in LSTfi | Twitter Space Gravita Protocol
We joined Gravita’s latest Twitter Space with Layer Zero to discuss the Swell Voyage and Gravita Ascend, future collaborations and our unified vision in shaping the future of DeFi.
📣 Top Tweets
Silent JJ published a guide to voting for the swETH pool on Equilibria
Want to know how the stETH vault works? DeFi Airdrops has you covered
Swell's Chief Liquidity Surgeon Abi breaks down the Super swETH Vault APR
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.
