Charlie Garcia
Swell functions as a non-custodial liquid staking protocol aiming to provide the top liquid staking experience globally. Their goal is to simplify DeFi access while ensuring Ethereum’s future security. Users can earn passive income by staking ETH to receive blockchain rewards and in turn acquire a yield-bearing liquid staking token (LST) for holding or engaging in the broader DeFi ecosystem for extra yield.
Swell has secured $3.8M in funding from backers like Framework Ventures and Mark Cuban. They initiated a Voyage campaign through which they plan to airdrop 50,000,000 SWELL tokens to users who stake ETH. The campaign’s conclusion is set for Tuesday, 30th July 2024.
- Access the Swell staking page.
- Link your wallet.
- Stake your ETH, obtainable from Binance.
- Receive Swell’s liquid staking token swETH.
- Move to “Restake” to stake ETH for rswETH, a tokenized version of Ether restaked on EigenLayer.
- Commence earning PEARL and EigenLayer points visible in the Voyage section.
- Get 30 Pearls for each swETH or rswETH minted.
- Earn 10 Pearls for every swETH minted through your referral.
- A snapshot of your Pearls will be captured at Block 20422895 (expected validation around midnight UTC on Tuesday, 30th July 2024).
- An airdrop of 50,000,000 SWELL tokens will be carried out post TGE based on your total PEARL points.
- This marks the end of the Voyage campaign, paving the way for the upcoming Swell City initiative.
- Swell City will enable users to reap rewards regularly as waves roll in, with each Wave lasting ten weeks, followed by a Wavedrop for claiming your SWELL.
- For more airdrop details, refer to this article.
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