Months of hard work are getting closer to fruition as we approach the launch of $SWELL, expected this month.
Meanwhile, the Swell ecosystem continues to grow with a range of new DeFi integrations and the rip-roaring launch of swBTC.
Dive into this newsletter to get all the latest from Swell over the last month.
✨ Introducing swBTC
Swell launched the first Bitcoin LRT to offer restaking yield from the Ethereum ecosystem, starting with Symbiotic and with EigenLayer and Karak Network coming soon.
You can now restake WBTC to earn 3x Black Pearls and Symbiotic Points. While Symbiotic caps are full, all swBTC holders will earn Black Pearls at a boosted rate of 5x.
You can also deposit swBTC in the Swell L2 Pre-Launch or juice your yields on PancakeSwap and Curve Finance.
Restake WBTC in the Swell BTC LRT Vault.
👀 earnETH Project
As hinted at in a recent tweet, Swell is working on a special project with newly-launched Nucleus protocol.
Keep your eyes on our X account for updates on this soon.
🚢 Swell Voyage Loyalty Bonus
Loyal Swell stakers will be rewarded with a special bonus at TGE!
The Loyalty Bonus takes into account both your earliness and your commitment to the protocol over time. Within the 8% of the SWELL supply allocated to the Voyage, 1% will be allocated to a Loyalty Bonus. The other 7% will be allocated linearly based on Pearl holdings.
Learn more about the Voyage Loyalty Bonus.
⛓️ Swell L2 Updates
Swell L2 is now scheduled to launch in early Q4, following Polygon's Chain Development Kit (CDK) upgrade expected in October. This upgrade will introduce a number of improvements including boosted stability and scalability, increased prover capacity, and native AggLayer integration.
Ahead of launch, the Swell L2 testnet will go live! This fully-featured testnet environment will closely mirror mainnet conditions, allowing for thorough testing and experimentation of projects AVS and DeFi protocols prior to the launch.
Get the latest updates from our technical infrastructure partners.
swBTC has landed on Swell L2!
Deposit swBTC in the Swell L2 Pre-Launch to accrue Swell L2 airdrops faster with 1.5x Ecosystem Points, while keeping your Black Pearls, Symbiotic Pearls, and future restaking rewards.
Bubbly Finance is coming to Swell L2
The first AMM-based pre-market DEX, Bubbly Finance, will bring innovative pre-market trading to Swell L2, and will be airdropping to Swell L2 Pre-Launch depositors.
🪂 Eigen Season 2 Stakedrop
EIgenLayer Season 2 claims are now open.
EIGEN tokens earned with rswETH in Season 2 will be claimed by Swell and redistributed to eligible rswETH holders via the Swell app by Friday September 20th.
If you held swETH in EigenLayer during Season 2, then you will need to claim via EigenLayer’s portal.
Learn more about EigenLayer’s Season 2 Stakedrop
💠 Swell Integrates with SSV Network
Swell has integrated with SSV Network!
More than 4000+ swETH validators have now been onboarded to SSV Network, marking an important milestone on our journey to delivering the most robust staking network for Ethereum.
Learn more about our SSV integration.
🌍 The Swell Node Operator Set has Expanded!
The rswETH node operator set has recently expanded to strengthen our staking infrastructure.
These operators met rigorous onboarding criteria, which includes robust operational capabilities, security protocols, experience in validator management, utilizing underrepresented clients, and geographical distribution.
Meet the rwETH Node Operators.
🌸 Swap swBTC with Garden
BTC holders can now directly trade from native Bitcoin into swBTC on Ethereum in less than 10 minutes via Garden’s trustless Bitcoin bridge.
Bridge into swBTC using Garden.
🧑🚀 swBTC set to Secure Hyperlane
swBTC will secure Hyperlane via Symbiotic!
Hyperlane’s bridge will draw economic security from the Swell BTC LRT Vault on Symbiotic, and capture bridging fee revenue to flow back to restakers.
Dive into how swBTC will help to secure Hyperlane.
🤝 Swell Teams up with Hemi and Symbiotic
Swell has teamed up with Hemi Network and Symbiotic!
Hemi will leverage Swell’s BTC LRT Vault on Symbiotic to source economic security for Hemi’s Bitcoin asset tunneling system.
Learn more about this partnership
💧 Liquidity
swBTC has entered BTCFi hub Avalon Labs
Borrow, lend, and leverage against swBTC, and earn 5x Black Pearls, AVAF points, and lending yield for supplying WBTC.
Deposit swBTC in Avalon Labs
swBTC crashes into the Loop Pool Party
Earn 4 types of points when depositing swBTC on Loop!
Deposit in the Sep rswETH (Swell L2) Pool
Earn and Borrow swBTC on Morpho Labs
Borrow, lend, and leverage against swBTC collateral or Supply swBTC to the vault to earn yield and Black Pearls on Morpho Labs!
Summer has come to Swell!
Borrow, lend, and loop your swBTC on Summer.fi!
Stack mats with swBTC on Mezo
Deposit swBTC in Bitcoin’s Economic Layer with the code ‘SWELL’ to earn Black Pearls and Mezo mats.
rswETH is integrated in Tokemak’s autoLRT Autopool
rswETH is now eligible for liquidity deployments on Tokemak's newly launched AutoPilot.
🙋Spaces and Podcasts
Securing Bitcoin Liquid Restaking | Space
Discussing swBTC security with Risk Guardian Gauntlet and vault infrastructure provider Yearn.
The BTCFi Revolution | Space
Chatting BTCFi and swBTC with BOB, Avalon Labs, Garden, and Summer.fi.
Building Swell L2 | Space
The latest developments on Swell L2 with builders Polygon, AltLayer, and Ankr.
Restaking Abstracted | Socket Protocol Space
Swell Founder Daniel joined the teams from Symbiotic and Socket to discuss how restaking and chain abstraction make sovereign, trust-minimized dApps a reality.
Swell City, Wave Drops and Swell L2 | Ion Protocol Space
We joined Ion Protocol to discuss all things new for Swell City, and our upcoming season featuring Black Pearls and Wavedrops!
Swell Japan AMA
Our Japanese community hosted an AMA to learn more about Swell’s journey ahead of TGE.
📣 Top Tweets
AVResearch dives into the challenges and limitations that Swell L2 will help overcome.
Explore the technical architecture of swBTC with leading auditor, ChainSecurity.
Join the Swell Community
Expect to receive your next edition of the Swell Deep Dive in three weeks.
Until then, stay up to date by joining us in Discord and following us on Farcaster, Twitter and DeBank.
