Swell-Seawolf Unleashed on Public Beta
Seawolf, Swell’s very first version and voyage in the decentralized governance, has been released on mainnet. Stakers of different experience levels can now participate in Seawolf to boost yields through liquid staking with absolutely zero costs (for only a limited time).
Swell has made liquid staking easier through streamlined dApps. Stakers can earn the highest yields and retain complete control of their Ethereum tokens in self-custody. The yields will be delivered via a reward-bearing tokenized model that will minimize tax pressure and make it simpler for users to deploy staked Ethereum to DeFi.
Furthermore, the early stakers are to be recognized. The very first phase of Swell’s launch would take place within the next 30 days. Further updates are expected on the same.
To provide the highest security levels, Swell will undergo extensive testing, which includes auditing of smart contracts by the top company, Sigma Prime, a successful private launch, and a testnet launch on Goerli.
The launch of Swell’s first phase will probably last for a month. Staking and offering swETH liquidity will be properly recognized during this launch as the platform progresses its way toward decentralized governance.
Liquid staking can be done with a straightforward reward-bearing tokenized model through a streamlined user interface where Swell will allow users to earn leading staking rates with a few simple steps mentioned below –
- Connect to the Swell account via WalletConnect, Coinbase, or MetaMask (or purchase ETH directly via onramp).
- Confirm the amount of ETH staking.
- Withdraw the swETH tokens and automatically receive staking rewards.
Note that ETH tokens can be traded, yield-farmed, and deposited everywhere in DeFi.
swETH is an ERC20 token compatible with all ETH wallets, including MyEtherWallet, TrustWallet, Trezor, Ledger, and MetaMask. Users can earn additional yields by providing liquidity in Balancer/Aura.
Shortly after the mainnet, vault functionality will be made available that will allow stakers to easily get exposure to several DeFi strategies that will range from liquidity-providing options-based Delta neutral vaults and leveraged staking. Token holders must note that like every liquid staking protocol, Swell, however, has certain associated risks, such as SWETH, price, fluctuations, slashing and penalties, ETH, technology risk, and smart contract risk.