Another Restaking track project will airdrop tonight. Is there still a chance to participate in Swell?

Original | Odaily Planet Daily ( @OdailyChina )

Author | Asher ( @Asher_0210 )

Yesterday, Ethereum re-staking protocol Swell Network announced on the X platform that its token SWELL will be available for claiming at 17:00 Beijing time on November 7 (claim link: https://app.swellnetwork.io/dao/voyage ). Tokens can be claimed within 6 months after the claim is opened, and unclaimed tokens will be returned to the DAO for future plans. And SWELL tokens will be listed on major centralized exchanges at 18:00 . According to official information, SWELL will be listed on centralized exchanges such as Kucoin , Huobi HTX , Bitget , Bybit , and MEXC .

Next, Odaily Planet Daily will take you to quickly understand the Ethereum re-staking protocol Swell Network, its token economic model, and how to participate in the second season airdrop event.

Project Introduction

Image source: Official Twitter

Swell is a non-custodial liquidity staking protocol that is committed to providing the worlds best liquidity staking experience, simplifying access to DeFi, while ensuring the future security of Ethereum. It leverages a diversified AVS and a rich ecosystem of innovative applications (including Ion, Brahma, Ambient, etc.) to achieve re-staking upgrades. Through Swell, users can earn passive income by staking ETH, earn blockchain rewards, and receive a yield-generating liquidity staking token (LST) to hold or participate in the broader DeFi ecosystem to earn additional income.

It is worth mentioning that Swell L2 is migrating to the Optimism Superchain . This move will allow Swell L2 to join the Superchain as an Optimistic Rollup built on the OP Stack.

According to ROOTDATA data , in March 2022, Swell Network announced the completion of a US$3.75 million seed round of financing, led by Framework Ventures, with participation from IOSG Ventures, Apollo Capital, Maven 11, angel investor Mark Cuban, Synthetix co-founder Kain Warwick and Jordan Momtazi, Balancer founder Fernando Martinelli, Ryan Sean Adams, Bankless co-founder David Hoffman, Ren Protocol co-founder Loong Wang and Mask Network founder Suji Yan.

Token Economic Model

According to official documents, the total supply of Swell Network token SWELL is 10,000,000,000 , and the TGE supply accounts for 13% of the total, which is 1,300,000,000 . The specific distribution ratio is as follows:

• Community: 3,500,000,000 SWELL, accounting for 35% of the total supply, mainly including three parts. First, Voyage (first quarter airdrop activity), accounting for 8% of the total supply; second, Wavedrops (second quarter airdrop activity), accounting for 7% of the total supply; third, the launch pool, 135,530,000 SWELL will be used for the launch fund pool and marketing to support the listing and issuance of SWELL on the exchange, and the remaining tokens will be used for strategic purposes related to the community, ecosystem and strategic incentives;

• Team: 2,500,000,000 SWELL, accounting for 25% of the total supply, allocated to current and future core contributors and advisors of Swell DAO. This portion of tokens will be locked for 12 months after TGE and unlocked linearly over the next 36 months;

• Early fundraising: 2,500,000,000 SWELL, accounting for 25% of the total supply, allocated to private investors who provide funding, expertise and other support in the early stages of Swell protocol development. This portion of tokens will be locked for 12 months after TGE and unlocked linearly over the next 30 months;

• Foundation: 1,500,000,000 SWELL, 15% of the total supply, reserved for strategic initiatives aligned with Swell鈥檚 overall vision and mission, including L2 expansion, product development, ecosystem growth, resource allocation, network expansion, and Swell鈥檚 long-term growth and sustainability positioning.

8.5% of the supply is allocated to the Voyage airdrop, 7% of the total supply will be distributed linearly based on the White Pearls accumulated by each Voyager, and an additional 1.5% will be distributed to the most loyal stakeholders based on their loyalty bonus method.

The rSWELL contract is: 0x358d94b5b2F147D741088803d932Acb566acB7B6;

The SWELL contract is: 0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676.

Wavedrops Season 2

Swell Network鈥檚 first season token airdrop event Voyage completed the snapshot and ended on July 30, but the second season token airdrop event Wavedrops was launched immediately afterwards (project official website: https://www.swellnetwork.io/ ).

In the Wavedrops event, every 10 weeks is a cycle, and users can obtain Black Pearls through staking. After each cycle, they can exchange the obtained Black Pearl shares for SWELL tokens. According to official information, in order to reward early users, the first wave cycle will allocate 2% of the total supply , the second and third wave cycles will each allocate 1.5% of the total supply , and the subsequent wave cycles will only allocate 1% of the total supply . At the same time, there will be bonuses for continuous participation in multiple wave cycles, and the specific bonus coefficients are as follows:

The relationship between the number of wave cycles involved and the bonus

OTC Trading Quotes

According to AEVO pre-market trading data, the price of SWELL has continued to fall since the opening, and is currently trading at $0.0443. Affected by the upcoming token airdrop, the 24- hour price increase is 22.48%, and the 24 -hour transaction volume is approximately $3.7 million.

SWELL trading data on the AEVO platform

This article is sourced from the internet: Another Restaking track project will airdrop tonight. Is there still a chance to participate in Swell?

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