The restaking ecosystem is coming to life as the first Actively Validated Services (AVS's) hit mainnet with the latest Eigenlayer upgrade.
In turn, rswETH is evolving.
rswETH v2 will be a big step forward in building the best LRT possible. And when it is released in late Q2, will unify the Swell ecosystem and unlock three new key functions for rswETH and swETH holders:
1. Stake swETH to get rswETH
rswETH v2 will enable composability between supported LSTs and rswETH.
swETH – and other LSTs such as stETH – will be accepted as collateral for minting rswETH, opening up a timely and gas-efficient route for swETH holders to get rswETH without reliance on the secondary market.
2. Secure AVS's for restaking rewards
rswETH v2 will enable ETH and LSTs restaked via rswETH to be automatically delegated to EigenLayer AVS Operators.
As rswETH is natively restaked, rswETH holders will enjoy a hands-off experience and peace of mind that Swell is working with only the most reputable EigenLayer operators.
In return for securing the rich ecosystem of AVSs, rswETH restakers will receive rewards from across the ecosystem. Including not only real restaking yield (once enabled), but potential AVS airdrops, and more restaking rewards from depositing the rswETH in Swell L2.
3. Withdraw rswETH at the primary rate through the app
rswETH v2 will enable rswETH to be withdrawn through the Swell app at the primary market rate.
This will remove reliance on the secondary market, and lend further stability to rswETH as one of the most popular and liquid LRTs in DeFi.
Until then, you can swap rswETH back to ETH on a DEX or aggregator. The staked assets backing rswETH can be checked at any time using Chainlink Proof of Reserve.
Coming soon: rswETH in Swell L2
The new-and-improved rswETH will be a critical baselayer component of Tri-Staking on Swell L2. This novel staking mechanism will enable SWELL, ALT, and rswETH to all be used to secure Swell L2 AVS's via AltLayer’s AltVault, giving restakers baseline rewards for securing chain-specific services. Stay tuned for more info on this as Swell L2 approaches mainnet.
In addition, rswETH will be the native gas token of Swell L2. This will bring more utility to the token, and optimize user experience and gas expenditure as holdings appreciate over time from staking and restaking rewards.
Stay up-to-date with Swell and rswETH by joining us in Discord and following us on Farcaster, Twitter and DeBank.
