Swell Network is a pioneering non-custodial liquid staking and restaking protocol designed to democratize access to decentralized finance (DeFi) while enhancing the security and decentralization of the Ethereum network. By eliminating traditional barriers to entry, Swell enables users to stake or restake any amount of Ethereum (ETH) without the need to meet the conventional 32 ETH minimum or possess extensive technical expertise. This approach allows a broader range of participants to contribute to network security and earn rewards.
Key Features and Offerings:
Liquid Staking with swETH: Upon staking ETH through Swell, users receive swETH, a liquid staking token that represents their staked ETH along with accrued rewards. The value of swETH appreciates over time as staking rewards accumulate, providing users with a flexible asset that can be utilized across various DeFi platforms for activities such as lending, borrowing, or providing liquidity. This ensures that users can maintain liquidity while still earning staking rewards.
Restaking with rswETH: Swell introduces rswETH, a liquid restaking token that allows users to restake their ETH into protocols like EigenLayer without the need to manage validator nodes or lock up substantial amounts of ETH. By holding rswETH, users can earn additional rewards from Actively Validated Services (AVS), further enhancing their earning potential within the DeFi ecosystem.
Swell L2 – The Restaking Chain: In collaboration with partners like AltLayer and EigenLayer, Swell has developed a layer-2 rollup known as Swell L2. This "restaked rollup" leverages the security of restaked assets to provide decentralized sequencing, verification, and faster finality for transactions. Built on the Polygon Chain Development Kit (CDK), Swell L2 aims to enhance scalability and efficiency within the Ethereum ecosystem.
Swell DAO and Governance: Governance of the Swell protocol is facilitated through the Swell Decentralized Autonomous Organization (DAO). Holders of the native SWELL token have the ability to participate in decision-making processes, influencing aspects such as protocol parameters, liquidity incentives, node operator onboarding, and grant distributions. This community-driven approach ensures that the development and evolution of the protocol align with the interests of its users.
Security and Partnerships: Swell places a strong emphasis on security and has undergone audits by reputable firms such as Sigma Prime and Hexens. Additionally, the protocol collaborates with industry leaders like Chainlink and RedStone to integrate decentralized computing and oracle services, further enhancing the robustness and reliability of its offerings.
User-Centric Approach: With a focus on simplifying the staking process, Swell offers a user-friendly interface that allows individuals to stake or restake their ETH seamlessly. The protocol's design ensures that users retain control over their assets, promoting a non-custodial and secure staking experience.