GM Aquanauts - Swell is now weeks away from reopening staking deposits with our new and improved architecture. It has been several months in the making and the DAO cannot wait to open its reopen its gates to the Ethereum community. Launching this April.
This marks the dawn of a new era for Swell. A precursor to this will be a testnet run in mid-March.
Until then, actual staking deposits will continue to remain on hold. The current cap of 256 ETH which has been in effect since late last year, will be maintained until the DAO has conducted relevant assurance and audit activities for our revised architecture.
The April guarded launch will involve a second capped in-flow of 256 ETH from allow-listed addresses in the early stages of mainnet.
Once the DAO has monitored protocol performance on mainnet, we intend to open staking deposits to the community and begin executing our strategy to become a dominant LST and force for good in Ethereum.
Just a reminder that Swell will now feature the following:
- Single reward-bearing liquid staking token (LST), i.e. Swell Ether (swETH)
- Full composability, fungibility, and liquidity
- Staking pool deposit model
- Vetted operator set comprising institutional-grade node-runners
- Progressive decentralization and permissionlessness on the supply-side for our network
- Deployment of specific swETH yield optimizer strategies within Swell DApp, commencing with LP and boosted yield plays
- Ongoing research and development into LST design, including distributed validator technologies (DVT), EigenLayer restaking, and more.
(The DAO has deprecated its previous design which revolved around our atomic deposit / NFT model.)
Please note that migration for our existing stakers will happen seamlessly and there is no action required on your end. If you are an existing Swell staker and have further questions, please head to our Discord channel #sweth-hodler.
For more information about our current design, please read our litepaper here.
To get the latest on Swell protocol updates, head over to the Swell Discord and follow Swell on Twitter.
Watch this space.
