TL;DR
- You can now zap any token into swETH
- Each swETH you zap into earns you 40 Pearls
- Time is limited! Zapping rewards will only last for 14 days.
- Staking will be disabled for the duration of the campaign, and Referrals will be paused.
- Looping is strictly prohibited
Thanks to your valiant Pearl hunting efforts, the Voyage has progressed fast.
But before we hit our first major Community Milestone at 50K ETH staked, it's time for a sidequest!
Your next assignment will last for 15 days, and is an opportunity to not only strengthen swETH liquidity, but also help decentralize Ethereum by creating a healthy liquid staking market.
Zap into swETH
On the Swell app you will now see a new feature: Zap.
This lets you earn a Pearl bonus by swapping any token into swETH in 3 simple steps:
1. Go to 'Zap' in the Swell app
2. Select token and set amount
3. Confirm zap!
For the best possible price, zaps are routed through aggregator of aggregators Li.Fi.
Note that staking functionality has been temporarily removed for the duration of the sidequest to ensure that all new Voyagers are making the most of this short-lived zapping opportunity.
Early zappers get the Pearls!
The zapping bonus lasts for 14 days from the date of this blog post.
You get 40 Pearls for each swETH you zap into, and the Pearls you receive for zapping will show on your Voyage dashboard within five minutes.
Note that Pearl rewards for zapping may finish before 14 days, subject to community feedback, market conditions, and strategic considerations.
Bonus prizes
Aside from the standard 40 Pearl zap bonus, two more prizes are up for grabs:
500 Pearls for the zapper of the most obscure tokens!
Do you have leftover altcoins gathering dust in your wallet? Or forgotten tokens that could be turned into productive assets? A single special prize of 500 Pearls awaits the Voyager who zaps the most obscure mix of tokens. This will be awarded at the end of the sidequest, and determined at the discretion of a panel of community mods and Swell core contributors.
10 extra Pearls for big zaps!
Zap more than 100 swETH at once to get an additional 10 Pearl bonus per swETH. This bonus is only available until we hit a total of 15000 total swETH zapped.
Guidelines and specifics
- As staking is disabled during the sidequest, the Referrals program will be paused. But you can still earn Pearls as normal by holding and LPing.
- 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.
Onwards, Voyagers!
Once the sidequest concludes, we will be all set to blast through the first community milestone of 50K staked ETH.
Until then, zap your way to more Pearls by swapping different tokens into swETH!
