What is Swell Network (SWELL)?

What is Swell Network (SWELL)?

Swell Network (SWELL) is a liquid staking platform that allows users to earn passive income by staking or restaking ETH. Staking involves locking up a certain amount of ETH to help validate transactions on the Ethereum blockchain. In return, users earn rewards. Swell makes this process easier and more accessible, even for those who don’t have a large amount of ETH or technical expertise.

Who Created Swell Network (SWELL)?

Swell Network was developed by Swell Labs, a team dedicated to creating a secure, decentralized, and transparent financial future. The goal of Swell Labs is to make financial freedom accessible to everyone, without discrimination or censorship.

What VCs Back Swell Network (SWELL)?

The information provided does not specify if Swell Network has any VC backing.

How Swell Network (SWELL) Works

Swell Network offers a range of services to make staking and restaking ETH more accessible and rewarding.

Liquid Staking

Liquid staking allows users to stake any amount of ETH, even less than the usual 32 ETH required for traditional staking. When users stake their ETH with Swell, they receive swETH in return. This token can be used like regular ETH in the DeFi ecosystem. Users can transfer it, use it as collateral, or provide liquidity while still earning staking rewards. This flexibility increases participation in staking and enhances the security of the Ethereum network.

Restaking

Restaking takes staking a step further. For those interested in restaking, Swell offers rswETH. This token allows users to restake their ETH without needing to manage a validator node or lock up 32 ETH. Instead, users pool their ETH into a restaking pool managed by professional node operators. These operators handle the technical aspects, maximizing returns for everyone involved.

Swell L2

Swell L2 is a restaked rollup built on the Polygon CDK. It uses advanced technologies like EigenDA and the Polygon AggLayer in collaboration with partners such as AltLayer, Chainlink, and Redstone. Swell L2 aims to enhance the staking and restaking experience further, providing users with additional opportunities and rewards.

Swell DAO

Swell Network is governed by Swell DAO, a DAO comprising holders of the SWELL token. The DAO plays a crucial role in the protocol’s development, governance, and community engagement.

Community members can contribute by participating in discussions, making proposals, and spreading the word about Swell on social media. Active participation helps shape the future of the protocol and ensures its continuous improvement.

SWELL Goes Live on Bitget

SWELL is the native token of the Swell Network. To join the robust and growing liquid staking platform of Swell Network, trade SWELL on Bitget now.

SWELL on Bitget Pre-Market

SWELL is a part of Bitget Pre-Market, a platform where users can trade tokens over-the-counter before the token is listed for spot trading. Join now to get the best out of it!

To use Bitget Pre-Market, follow these simple steps:

● Step 1: Go to the Bitget Pre-Market page.

● Step 2:

○ For Makers:

■ Choose the desired token and click on ‘Post Order’.

■ Specify Buy or Sell, enter price and quantity, review details, then confirm.

○ For Takers:

■ Choose the desired token, pick ‘Sell’ or ‘Buy’, select the pending order, enter quantity, and confirm.

■ Note: Partial completion is not allowed.

For more specific information on how to get SWELL tokens on Bitget Pre-Market, check out the announcement here.

Get SWELL on Bitget Pre-Market now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.