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Home»ADOPTION NEWS»Swell plans a layer 2 ‘re-staking rollup’ with native governance tokens.
ADOPTION NEWS

Swell plans a layer 2 ‘re-staking rollup’ with native governance tokens.

By Crypto FlexsMarch 13, 20242 Mins Read
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Swell plans a layer 2 ‘re-staking rollup’ with native governance tokens.
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Updated: March 13, 2024, 8:07 AM EDT

Liquid retake platform Swell Network plans to launch its own layer 2 rollup chain leveraging many of the features of EigenLayer.

Swell’s roll-up is “Restaked Rollup” approach — a specialized layer 2 framework developed by AltLayer.

To develop the Layer 2 network, Swell will use technology from Polygon. Chain Development Kit (CDK) — AltLayer provides support. themainnet is scheduled to be released in the second half of this year.

This layer 2 network is claimed to offer benefits to Swell users, including native restaking yields (via Eigen), better scalability, and lower fees. The network’s designated gas token is rswETH, and Swell’s future tokens will be used for governance.

EigenDA integration with Eigen’s actively verified services

The network’s re-staking rollup structure integrates Active Validated Services (AVS), a specialized service built on top of EigenLayer to facilitate features such as decentralized sequencing and validation through EigenLayer’s re-staking mechanism. The network also integrates EigenDA to address data availability requirements.

“Expanding Swell’s securitization restaking service to L2 is the next logical step for the Swell community and DAO,” said Swell founder Daniel Dizon. “It expands the protocol’s existing vision to deliver the best securitization restaking experience to DeFi. “He said.

Swell launched in 2023 as a liquid ETH staking protocol liquid. We later focused on providing a liquid re-staking product as well. Last January, Swell unveiled rswETH, a liquid re-staking token that integrates directly with EigenLayer. Swell hosts the total value locked in excess of: $1.1 billion A full range of liquid ether staking and liquid re-staking products.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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