stETH holders can now deposit in the Super swETH vault to earn supercharged rewards from Pearls and redirected DAO commission, and help diversify the liquid staking market.
Ethereans have long discussed the dangers of having a single dominant liquid staking protocol. But now Swell DAO is looking to entice stETH holders by providing attractive incentives to help diversify the market. This includes putting its money where its mouth is by routing protocol fees to the vault to provide boosted real yield to depositors.
The fast-growing liquid staking protocol has launched the Super swETH vault, which offers stETH depositors yields of up to 18% from staking rewards and redirected DAO commission. stETH deposited into the vault is unstaked and swapped for swETH — helping to create a healthier, more balanced, and diverse liquid staking market.
For stETH depositors, the vault offers:
- Swell DAO Commission. 100% of protocol revenue is redirected to depositors for 180 days.
- Boosted Pearls. The earlier you deposit, the faster you earn Pearls. Deposits made before the vault hits 10k stETH AUM earn 3x Pearls, falling to 1.5x Pearls for deposits made after 50k. Pearl rewards will be replaced with SWELL tokens following the TGE.
- Underlying ETH staking yield ranging from 3-4%.
The combination of redirected protocol revenue, swETH staking yield, and Pearls, give Super swETH vault depositors some of the best returns for swETH, which is already fast becoming the LST for DeFi, and a much-needed protocol alternative in the all-important liquid staking sector.
This vault strategy is the first of many vaults planned in the Swell roadmap, and has already garnered significant interest from the Ethereum community.
Deposit stETH now: https://www.swellnetwork.io/vault
"Conversations happening across the Ethereum community have made it clearer than ever that there is strong demand for more choice and competition in liquid staking. The Super swETH vault helps address this by providing a compelling yield-boosting alternative for stETH holders, and one that helps support the creation of a healthy liquid staking market.”
— Daniel Dizon, Swell Founder
About Swell
Since launching in late May, liquid staking protocol Swell has amassed almost 50K ETH staked. The protocol aims to aid in the creation of a healthy market that is not dominated by any single provider, and preserve the core properties of decentralization and censorship resistance that make Ethereum so powerful. Swell has committed to limiting its share of the liquid staking market to 22%. Learn more about Swell.
Find more info about Swell:
Contact: Kieran Smith, CMO, [email protected].