Swell

Swell L2 is the L2 for restaking.

The L2 is a restaked rollup built on the Polygon CDK, and leverages EigenDA and the Polygon AggLayer in collaboration with AltLayer, Chainlink, and Redstone. It is supported by a grant from Polygon Labs.

Learn more about Swell L2.

Multiple Airdrops

Depositing in the Swell L2 Pre-Launch Deposit contract on mainnet makes you eligible for airdrops from both Swell and projects building on the L2.

These projects include ION Protocol, Ambient Finance, Brahma Finance, and more to be confirmed. Each of these will deliver tokens to Swell L2 Points holders on the date of their respective airdrops.

In addition, Swell will airdrop $SWELL to all Swell L2 Points holders on the launch of Swell L2. Note that this is separate to the 7% of supply that is allocated to Pearl holders.

Native points and rewards

In addition to being eligible for multiple airdrops, you will also earn native rewards and points for the token you deposit.

Points for native rewards are distributed by their platform to the L2 Pre-Launch Deposit contract, and then passed in full to depositors.

Depending on the asset you deposit, these rewards/points will include:

• 4x Swell Voyage Pearls (until TGE)
• EigenLayer Restaked Points
• EtherFi Loyalty Points
• StakeStone Points (in Carnival wave 2)
• Eigenpie Points
• Renzo ezPoints
• Etherfi Loyalty Points
• Renzo Loyalty Points
• LST/LRT staking yield
• LST/LRT restaking yield

Note that ALT staking yield is not included as a native reward.

Share of 1M EigenLayer Points

A proportional share of 1 million Eigenlayer Points will be given to everyone who deposits in the first four weeks (before May 8th, 2024), and doesn’t withdraw until the launch of Swell L2 in Q3, 2024.

• Native restaking yield
  Swell L2 provides a foundational yield of staking and restaking rewards for all assets and activity on the network.
• LRT gas token
  rswETH will be the native gas token of Swell L2. This brings more utility to the token, and optimizes user experience and gas expenditure as holdings appreciate over time from staking and restaking rewards.
• Built for maximum rewards
  In exchange for providing security and liquidity by bridging liquidity to Swell L2, restakers reap all the rewards of an emerging restaking ecosystem. This includes a second SWELL airdrop and multiple ecosystem project airdrops, along with rewards from AVS's, and the native points and yield of all deposited assets.
• Unified liquidity
  Swell L2 will tap into liquidity from across the Polygon ecosystem, bringing ZK-secured restaking yield to all, with near zero fees enabled by EigenDA.
• Tri-Staking
  Swell, together with @AltLayer, will introduce novel staking mechanisms, including the Tri-Staking model, where $SWELL, $ALT, and $rswETH, can secure Swell L2 AVS's via AltVault, to receive baseline rewards for securing chain-specific services.

The amount of EigenLayer Points received will be derived from the amount that you deposit in the pre-launch deposit contract, and the duration of your deposit, as calculated based on a time-weighted average.

Only depositors who stay in the Pre-Launch Deposit Contract until the launch of Swell L2 in Q3, 2024 will receive the Points.

Withdrawals can be made instantly at any time.

There is no need to lock or bridge assets to earn points and receive the airdrop rewards.

Swell L2 will be powered by Swell’s own liquid staking and restaking tokens — swETH and rswETH — as well as those of fellow LRT protocols including EtherFi and Renzo.

As the liquid restaked tokens are bridged to Swell L2, they drive network activity and provide restaked security to the AVS's, which in turn power the network. These include AltLayer AVS's (Vital, Mach, Squad), which provide core functionality such as verification, sequencing, and finality, as well as other AVSs in the ecosystem such as Lagrange, HyperLane, and NEAR which provide a range of services including interoperability and security.

In this way, liquidity flowing into the chain both supports the DeFi ecosystem on the network, and secures the underlying infrastructure of Swell L2 and other protocols across the restaking ecosystem.

Assets deposited in the pre-deposit contract remain untouched in the contract, with no additional risk incurred.

Once Swell L2 is live, users will be able to bridge from mainnet to Swell L2.

You remain in control of L2 Pre-Launch Deposited assets and can withdraw at any time.

The L2 Pre-Launch Deposit contract has been audited by Hexens and MixBytes.