Swell's growth is shifting up a gear as we enter the top 10 ETH liquid staking protocols on DeFILlama with more than 18,300 ETH staked.
This comes on the launch of the Swell Voyage, which has now seen more than 5,700 Voyagers descend into the uppermost layers of the ocean to collect pearls as they look to become citizens of the Swell DAO.
Without further ado, let's dive into those warm sunlit waters and discover all the highlights from the last fortnight at Swell.
🚢 Swell Voyage departs
The Swell Voyage has officially departed.
You are invited to become a citizen of the Swell DAO by descending into the ocean to collect valuable pearls that represent future governance power in the city of Swell.
You can now stake and provide liquidity throughout Chapter 1 and beyond, as we steer towards a new era of liquid staking and LSDfi.
Your pearl count will update on the Voyage dashboard weekly, every Wednesday at 02:00 UTC.
🔹 Read the official blog post
🔹 Start staking today: app.swellnetwork.io/
⛓️Chainlink Proof of Reserve integration
Swell has officially integrated with Chainlink Proof of Reserve to help ensure that swETH tokens are fully backed by staked ETH on a 1:1 basis.
Chainlink Proof of Reserve provides a best-in-class monitoring service for the ETH reserves backing swETH, that helps give users increased confidence and transparency into whether or not reserves are fully backed at all times on Ethereum’s Beacon chain.
Read the official announcement
🙋Twitter Spaces:
Swell x Timeless: LSDFi and the Growth of Bunni
To mark the launch of our swETH-ETH pool on Bunni, we were joined by Dakotah from Timeless Finance for a discussion about LSDFi.
Read the Timeless Twitter Space recap
Maverick LSTFi Panel
Up next, our Founder Daniel and Head of Research, Abi, will be joining founding members from Tokemak and Maverick to deep dive into the Next Yield Paradigm in DeFi: building innovative liquidity stacks to maximize capital efficiency on LSTs.
📊 swETH Market Listings
You can now track swETH price and market data on CoinGecko and TokenTerminal.
💧 swETH Liquidity
Uniswap v3 via Bunni Protocol
Last week we officially launched our swETH-ETH pool on Bunni.
swETH liquidity in Bunni has since surpassed $1M. If we hit $1.5M and 333,000 veLIT votes, we’ll be upping our bribe as part of our bonus bribe week.
Curve Finance
Our proposal for a frxETH / swETH gauge on Curve has been approved.
unshETH Whitelist Proposal
We have released our unshETH index whitelist proposal for swETH. This integration is a small step towards further decentralizing the asset mix within unshETH. This will drive utility for swETH as well as provide market participants with additional liquidity via unshETH’s internal AMM.
🗞️ Final call for Community Council applications
Are you a talented content creator or enthusiastic community member?
We’re inviting the most active and influential voices in DeFi to help uplift Swell’s vision in our first ever Community Council. Applications close on June 1st.
Apply for the Community Council
📣 Top Tweets
Swell inflow continues to grow
Tracking LST metrics just got easier
Ethereum is for everyone!
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.
