EigenLayer swETH deposits have closed with 209,000+ now restaked, but new opportunities are opening up in the welcoming waters of the LRTfi ecosystem.
Through partnerships with other leading LRT providers, we've launched pools on Curve and Balancer that enable rswETH holders to earn triple and quadruple points respectively. Several more innovative DeFi opportunities are also in the pipeline for rswETH!
Join us in this fortnightly Deep Dive to get all the recent highlights from Swell.
💎 swETH Deposits on EigenLayer
swETH deposits on EigenLayer opened for four days last week, and closed on Feb 9th at 20:00 UTC.
swETH remains the second-largest LST on @EigenLayer with 209,000+ swETH restaked! This represents ~15% of all restaked LSTs, leaving lots of room before any potential reward caps are hit.
Mint swETH
Restake on EigenLayer
✨ Introducing rswETH
Although swETH deposits on EigenLayer are now closed, you can still earn Pearls and EigenLayer Points by purchasing the newly launched Restaked Swell Ether (rswETH) — which gives you uncapped access to EigenLayer restaking without the need to lock your liquidity.
Plus, you can get a 30 Pearl bonus for every rswETH you mint through the app.
By simply holding rswETH you will earn:
- 100% staking yield from the rewards earned by staking your ETH with Swell. rswETH holders will pay zero fees for 30 days from launch.
- Pearls representing your share of the Swell Voyage airdrop. rswETH holders earn the same Pearls as swETH holders. That includes 30 Pearls per minted rswETH, ongoing Pearls for holding rswETH, and ongoing Pearls at a higher rate for using rswETH in approved DeFi protocols. Pearls will be redeemable for $SWELL tokens at the TGE, scheduled for late Q1.
- 100% EigenLayer Restaked Points. Swell passes all the Points earned on EigenLayer directly to restakers.
- Future restaking rewards, when EigenLayer onboards Actively Validated Services to mainnet.
Restake today!
Learn more about rswETH.
🌊 Liquid Restaking Council Expands
With the launch of Restaked Swell ETH (rswETH) just around the corner, several upcoming Actively Validated Services (AVS's) have committed to supporting the design and delivery of the token.
As members of Swell's Liquid Restaking Council, the following leading protocols will now collaborate with Swell to ensure safe and secure liquid restaking:
- Hyperlane
- NEAR Protocol
- LaGRANGE
- Mangata
- Blockless
Read more about the Liquid Restaking Council.
💧Liquidity
ezETH-weETH-rswETH Pool Live on Balancer
We've teamed up with Renzo and EtherFi to introduce the first ever Tri-LRT pool, which enables you to earn four points at once:
- EigenLayer Restaked Points
- Swell Voyage Pearls
- Renzo ezPoints
- EtherFi Points
All points are earned on 100% of your position, and all except EigenLayer Points are doubled for the first month!
LP in the Tri-LRT pool on Balancer
rswETH-weETH Pool Live on Curve
Swell has partnered with Ether.fi to create the first double-sided LRT pool!
Our new rswETH-weETH pool yields EigenLayer Points on 100% of your position, as well as 2x Pearls and Ether.fi points on your entire deposit composition until 29.02.24.
LP in the rswETH-eETH Pool on Curve.
rswETH/ETH Positions Live on Maverick
With the launch of rswETH, we deployed two rswETH/ETH positions on Maverick.
- Position #88: Deposit rswETH and earn Pearls + EigenLayer Points
- Position #89: Deposit ETH and receive 2x Pearls until the 28.02.2024
Note: EigenLayer Points are only earned on the rswETH portion of your deposit.
LP in ETH-rswETH #88
LP in ETH-rswETH #89
🙋Twitter Spaces and Podcasts
A Closer Look at Actively Validated Services | Space
We were joined by the teams from AltLayer, LaGRANGE, Witness Chain, Omni Network and Mangata to discuss what a restaked rollup is and how Actively Validated Services (AVS’s) harness restaked ETH for cryptoeconomic security.
Listen to the recording.
Introducing rswETH | Space
In celebration of the launch of rswETH, Swell’s native LRT, we hosted a Space to discuss liquid restaking and answer the communities most commonly asked questions!
The Liquid Staking Landscape | Scroll Space
Our Chief Liquidity Surgeon Abi joined industry experts from Lido, Diva, Redacted Cartel, Ether.fi and Rocket Pool in Scroll’s latest Space to discuss the emergence and evolution of Ethereum’s Liquid Staking landscape.
📣 Top Tweets
The Defiant covers Swell’s rswETH launch
Step-by-step instructions for the tri-LRT pool on Balancer
Abi breaks down why there are two Boosted rswETH Positions on Maverick
Join the Swell Community
Expect to receive your next edition of the Swell Deep Dive in two weeks.
Until then, stay up to date by joining us in Discord and following us on Farcaster, Twitter and DeBank.
