Restake ETH to get rswETH and earn uncapped EigenLayer points with the freedom to participate in DeFi
Swell has launched its own native liquid restaking token (LRT): Restaked Swell Ether (rswETH).
rswETH offers uncapped access to EigenLayer restaking points with the freedom to participate in DeFi.
Security and risk management have been prioritized in the design and development of rswETH. The LRT has been audited by leading blockchain security firm Sigma Prime, and its development is supported by expertise from top-tier DeFi risk management firms Gauntlet and Chaos Labs, as well as collaboration with leading Actively Validated Services (AVSs) across the rapidly growing EigenLayer restaking ecosystem.
rswETH holders will enjoy:
Pearls, Points, and future restaking rewards
Pearls represent a claim to future SWELL tokens, and EigenLayer Restaked Points measure contribution to the shared security of the EigenLayer ecosystem. In future, restakers will earn restaking rewards by contributing economic security to a range of different services, known as Actively Validated Services (AVS’s).
Unlocked restaked liquidity
As a reward-bearing ERC-20 token, rswETH can be used in DeFi while continuing to accrue restaking rewards.
Zero fees!
For the first 30 days after launch, rswETH holders will pay zero staking fees.
Looking ahead, LRTs are expected to grow in popularity and eventually absorb LSTs. This functionality will be made available in future versions of rswETH, which will enable swETH to be directly restaked into rswETH.
"Liquid staking tokens (LSTs) have revolutionized DeFi as the leading category of DeFi,underpinning many other major DeFi verticals– from DEXs to borrowing and lending. Now, the rising tide of liquid restaking tokens (LRTs) is set to bring even bigger changes, and Swell DAO is glad to lead the way with the launch of our Liquid Restaking Token (LRT) rswETH. This has been developed with a focus on risk and security, and will offer unmatched usability and ubiquity for liquid restakers across DeFi.”
— Daniel Dizon, Swell Founder
Get rswETH at www.swellnetwork.io/liquid-restaking
About Swell
Swell is the liquid restaking protocol for DeFi. The protocol has attracted more than $400M in TVL since the launch of Swell Staked Ether (swETH), and is renowned for its security, streamlined user experience, and extensive range of DeFi integrations.
More info about Swell:
Contact: Kieran Smith, CMO, [email protected].
About EigenLayer
EigenLayer is a restaking protocol that acts as a marketplace for decentralized trust. It enables any service — such as bridges or oracle networks — to use restaked ETH for security, rather than needing to bootstrap their own validators. Restakers stand to gain extra rewards for securing these other projects, but also take on additional risk of penalties through slashing.