Swell operates the Swellchain, a Proof of Restake infrastructure providing a liquid restaking yield layer for DeFi applications. The platform facilitates staking and restaking of assets like ETH and WBTC through LRTs such as rswETH and swBTC, securing the Swell L2. Users can earn yield and points by depositing various LSTs/LRTs into integrated vaults.
Funding
$3.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Existing Layer-2 solutions often lack native support for restaking, which limits opportunities for users to maximize yield and secure the network. Bridging and managing restaked assets across different chains can be inefficient and complex, hindering broader adoption.
Solution
Swellchain is a restaking-focused Layer-2 solution built using Optimistic Rollups and powered by Proof of Restake. It enables users to bridge and manage restaked assets, enhancing both asset security and yield generation within the decentralized finance (DeFi) ecosystem. By leveraging its architecture as part of the Superchain, Swellchain facilitates efficient restaking strategies and improved liquidity for restaked assets. The platform supports various restaking assets, including rswETH and swBTC, allowing users to earn additional yield while contributing to the security of the Swell L2 network.
Target Audience
The primary target audience includes DeFi users seeking to maximize yield through restaking, as well as developers looking to build applications that leverage restaked assets within a secure Layer-2 environment.
Features
- Proof of Restake mechanism to enhance network security.
- Compatibility with the OP Superchain ecosystem.
- Support for bridging and management of restaked assets.
- Integration with DeFi protocols like Contango, Ambient Finance, and Ion.
- Support for liquid restaking tokens (LRTs) such as rswETH and swBTC.
- Partnerships with security and risk management firms like Sigma Prime, Hexens, Gauntlet, and Chaos Labs.
- Modular oracles via Redstone for high-frequency data delivery.