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Note, December 10th, 2024: The Wavedrop system described below will be superseded by direct token rewards on December 17th, 2024.
Swell City is in our sights!
A snapshot of your White Pearls was taken at Block 20422895 (around midnight UTC on Tuesday, 30th July 2024).
This snapshot marked the end of the Voyage and the beginning of a new opportunity to collect $SWELL rewards every ten weeks in Swell City.
Swell will now bring back some of the nostalgia of real yield liquidity mining through a predictable airdrop schedule – known as Wavedrops – that reward the most aligned Swell stakers without the need to wait for long campaigns to end.
Introducing Wavedrops
In Swell City, you collect rewards as regularly as the waves roll in. Each Wave lasts for ten weeks, followed by a Wavedrop at which point you can claim your $SWELL.
Simply hold swETH, rswETH, swBTC, or rSWELL or use them in supported DeFi integrations to earn Black Pearls, and then claim $SWELL with your Black Pearls at every Wavedrop.
To reward loyal Voyagers, the allocation to the first Wavedrop will be doubled, with 2% of the total $SWELL supply distributed to Black Pearl holders.
After the first Wavedrop, Wavedrops 2 and 3 will account for 1.25% of the supply each, followed by 1% for three Wavedrops thereafter, up to a total of 7.5%. Wavedrops 2 through 6 will incorporate vesting preferences similar to the Voyage.
Ride the Waves to earn bonus multipliers
Get more $SWELL for your Black Pearls by riding Waves one after the other.
For every consecutive Wave in which you participate, your Black Pearl count will be boosted an additional 10% at each Wavedrop – starting from zero up to a maximum bonus of 60%.
As a Voyager turned Swell Citizen, you’ll automatically get a 30% boost on your Wavedrops if you continue to maintain 90% of your swETH/rswETH balance from the snapshot date.
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