swETH deposits have closed on EigenLayer, but restaking continues with rswETH!
For seven days until February 22nd, you can Zap any supported liquid staking token (LST) into rswETH to get a 2x boost on the Minting Bonus — that's a total of 60 Pearls per rswETH!
This bonus is available for one week only, and with the token generation event at Swell City coming in late March, represents one of the last opportunities to boost your Pearls before redeeming them for SWELL!
Boost your Pearls by Zapping LSTs!
Zapping is a way of buying rswETH at the best possible price. Purchases are processed through aggregator Li.Fi, which automatically finds the most optimal route for your order.
Zaps of these LSTs are eligible for the bonuses:
- Lido Staked ETH (stETH, wstETH)
- Origin Ether (OETH)
- Ankr Staked ETH (ankrETH)
- Liquid Staked ETH (lsETH)
- Mantle Staked Ether (mETH)
- Stader (ETHx)
- Frax Staked Ether (Staked sfrxETH)
Start Zapping by going to 'Restake' in the Swell app, selecting the LST in your wallet, and hitting 'Zap'. The resulting Pearls will not show on your Voyage dashboard immediately, but are expected to be added within the next week.
Please note that Looping — i.e. using the same amount of ETH to generate rewards multiple times by selling swETH for stETH to repeat the process — is strictly prohibited. This is monitored by the team, and will result in you being excluded from the Voyage and losing your entitlement to Pearls.
Join the LST > LRT revolution
As a liquid restaking token, rswETH is not bound by any of the constraints — such as caps and restaking windows — that apply to liquid staking tokens restaked on EigenLayer.
Instead, you can buy rswETH at any time, and will start earning Pearls, EigenLayer Points, and staking yield immediately.
Plus, you can take your restaked ETH (rswETH) and use it to earn additional yield in the emerging LRTfi ecosystem. Top opportunities include our quadruple points pool on Balancer, and triple points pool on Curve.
FAQ
What is rswETH?
Restaked Swell Ether (rswETH) is Swell's native Liquid Restaking Token (LRT)
rswETH delivers uncapped access to Eigenlayer restaking rewards without the need to lock your liquidity.
What is the difference between swETH and rswETH?
swETH is a Liquid Staking Token (LST) that must be deposited in EigenLayer to earn EigenLayer Points and restaking rewards. EigenLayer deposits are capped and only opened at certain times.
rswETH is a Liquid Restaking Token (LRT) that earns EigenLayer Points natively, while staying liquid for use in DeFi. Native restaking is uncapped on EigenLayer, meaning you can restake ETH to get rswETH at any time.
Learn more about restaking.
What are Zaps?
Zapping is a feature of the Swell app that gets you the best possible price when purchasing rswETH. Zaps are processed with Li.Fi, which routes the order via either the secondary market or minting, depending on which gets the best price.
Is restaking ETH still rewarded with the Minting Bonus?
Yes, you can still get 30 Pearls for every rswETH minted through the app with ETH.
Can I stack Pearl rewards for referring and Pearl rewards for Zapping?
No, referral rewards are only applicable to rswETH that is minted.
Can I zap swETH into rswETH?
Zapping of swETH into rswETH is not possible through the Swell app.
The next version of rswETH, expected to be released within a couple of months, will enable swETH to be restaked for swETH.
