Despite only being live for a few short weeks, Swell is already among the ranks of the biggest liquid staking players.
We are topping the charts in percentage growth over the last month, and have become the 3rd-fastest growing liquid staking protocol by total amount of ETH staked — overtaking Frax and trailing Lido and Rocketpool!
In turn, swETH liquidity is deepening across DeFi: swETH-ETH has become the largest pool on Maverick, and our Aura pool is the largest of its kind on Pendle.
To get the latest on liquidity, listings, live community events and more, don your diving goggles and slip beneath the waves in this fortnight's edition of your Deep Dive!
🚢 Swell Voyage
Our early adopter program and airdrop campaign continues to onboard more stakers in search of precious pearls!
swETH Minting Bonus Extended
The minting bonus was extended at the end of June, meaning you can continue to earn 20 pearls for every 1 swETH minted through the Swell app!
Note that purchasing swETH on secondary markets such as Balancer, Maverick or Uniswap does not qualify for the 20 pearl minting bonus, and that looping swETH (defined as repeatedly staking then selling into our liquidity pools) will not be rewarded.
Near Real-time Dashboard Updates
Forget waiting a week for your pearls to show. You can now see your pearls within five minutes of earning them – just enough time to savor the anticipation!
👨💻 Portfolio feature
Your new swETH portfolio page is live, enabling you to track swETH holdings, see recent transactions, and monitor the swETH-ETH exchange rate from within the Swell app.
🔴 Redstone Oracles Integration
Swell has integrated with Redstone Oracles to provide a secure, reliable, and accurate secondary market price feed for swETH – unlocking new use cases across DeFi including borrowing and lending!
Learn more
🙋Twitter Spaces and Podcasts
Making Liquid Staking More Transparent | A Twitter Space with Chainlink Labs
We were joined by Chainlink's Solutions Architect, Michael Imperiale, to explore the power of ChainLink Proof of Reserve for monitoring swETH.
Are Liquid Staking Tokens a Risk to Ethereum? | A Multi-LST Twitter Space
Having a single dominant liquid staking protocol threatens the qualities of decentralization, diversity and censorship resistance that give ETH value
We discussed this with Darren from Rocket Pool, Mike from Etherfi and Diogo from Ankr Staking in a fascinating Twitter Space.
The LST Revolution with Redstone
Swell Founder Daniel recently joined Redstone Oracles Twitter Space panel to discuss the LST revolution in DeFi.
Speak Japanese?
Coming up this week, Swell will be holding a special event with Japan’s largest crypto community: Kudasai.
📊 Swell Listings
Rated provides the staking industry's most credibly neutral source of open and transparent data.
Swell has now joined the list of reputable staking providers that disclose staking pool operations on Rated – enabling you to track rewards, Node Operator performance, APR rewards and more from a trusted source Swell page on Rated.
💧swETH Liquidity
swETH claims the top spot on Maverick
With more than $14M in TVL, ETH-swETH is now the largest of all liquidity pools on Maverick.
LPers get both pearls and a little something else from Maverick!
Check our boosted position on Maverick
Pendle liquidity deepens
swETH-bbaWETH is now the largest Aura pool on Pendle. Plus, you can get an additional boost on your Pendle LP by depositing through Equilibria or Penpie.
Bunni Gauge launches
Our new WETH/swETHgauge is live on Bunni Protocol. This gauge will drive more swap volume and higher APRs in the pool.
📣 Top Tweets
Pearl-boosted Swell APYs are estimated to be 41.4%. Find out how our Chief Liquidity Surgeon figured this out...
Swell is ranked third by TVL % growth over the past 30 days
A complete guide to Swell, written by the team at Blocmates
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 on Twitter.
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