Swell Network will be performing an architecture upgrade to improve performance and scale of the protocol.
Oct 18, 2022
GM Aquanauts - Swell will be performing a significant architecture upgrade to improve performance and scale of the protocol. Until further notice, staking deposits will remain paused at the current cap of 256 ETH. The atomic deposit / NFT model will be deprecated for a new staking pool deposit / ERC20 model.
Following our previous announcements, the DAO identified an issue during guarded launch. The issue relates to to timeliness of validator activation under certain conditions on mainnet.
After consulting the Ethereum Foundation, it was determined that the root cause was an external edge case relating to the Ethereum blockchain and how our atomic deposit / NFT interacted with it.
Guided by our principles of launching with only the best possible protocol that can scale in a highly secure and performant manner, staking deposits are hereby paused to enable the protocol upgrade to occur.
This process is expected to take several months.
Ultimately though, the DAO is confident that this will result in a much stronger, secure, and scalable product for our community.
Our new and improved architecture design has benefitted from collaboration with key members of the Ethereum Foundation as well as our protocol partners.
Critically, this upgrade has significant cascade effects to our protocol roadmap and prior release timing estimates.
For those who staked in our capped guarded launch, we appreciate your faith in the protocol. As a gesture of our appreciation, we will be ensuring that early stakers will be rewarded closer to our token generation event which will occur some time after the product has gained traction on mainnet next year.
If you are interested in learning more about Swell, please refer to the following resources; Discord, Docs, Twitter & Forum.