Turbo swETH is gathering momentum!
For two months from today, you can deposit in this Sommelier Vault to get:
- Zero vault fees (no platform or performance charges)
- Boosted rewards (joint incentives from both Swell and Sommelier flow to the vault)
- 2x Pearls
Dive into this three-step guide to learn more about Sommelier and how to boost your yield in the Turbo swETH vault.
Introducing Sommelier
Sommelier takes a dynamic approach to vaults that intelligently adjusts strategies based on market conditions or predetermined metrics.
Vault strategies are computed off-chain by sophisticated quant and data science teams (In this case, Seven Seas and Define Logic Labs) before being submitted to the vault in a decentralized way through the Cosmos validator set.
This architecture creates nimble, flexible, and most importantly, profitable vaults.
How to deposit in Sommelier
Depositing in the Turbo swETH vault is simple. But make sure you follow all the steps to ensure you get your Pearls and Somm rewards.
1. Navigate to Turbo swETH on Sommelier
The vault can be accessed through this link: https://app.sommelier.finance/strategies/Turbo-SWETH/manage
2. Deposit WETH
You can only deposit WETH. If you don't hold any, the quickest and most efficient way to get it is likely to be through an aggregator such as ParaSwap or CoWSwap.
3. Click 'Boost Yield'
Bonding your LP tokens is necessary to earn Sommelier rewards and Pearls. This is a way of promoting long-term liquidity by rewarding passive liquidity providers with enhanced rewards. You bond your tokens to get the rewards, and can then click unbond when you decide to withdraw from the vault. This unbonding process takes 14 days for the swETH vault.
FAQ
Do I earn Pearls during the unbonding process?
No, your LP tokens must be bonded to earn Pearls. They will stop accruing when you trigger the unbonding process.
Do I earn Somm rewards during the unbonding process?
Yes
Will Pearls show immediately?
Pearls earned in the Sommelier Turbo swETH vault are not currently showing on the Voyage dashboard, but are being tracked in the background and will be added retroactively at a later date.
What will be the rate when the 2x Pearl promotion ends?
When the 2x Pearl promotion ends, the vault will revert to the normal Pearl-earning rate.
Need more guidance?
Check the Sommelier docs to understand more about how the vault works, or dive into the Swell Discord to ask the team about Turbo swETH.
Important note: By interacting with smart contracts, you acknowledge and accept the inherent risks — including code vulnerabilities, regulatory uncertainties, and potential for human error — that can result in irreversible losses. Exercise caution and conduct thorough research before participating in smart contract-related activities.
