a month ago 1 min read

Ethereum Staking Protocol Swell Network Preparing For More Functions In April

Ethereum-swell Network-ether-ETH

The Ethereum mainnet will receive an update to the Ethereum Swell Network pledge protocol's features in April.

The Swell Ether liquidity commitment token incentive program and full hybridization and replacement are two groundbreaking innovations. Liquidity, a moderated group of node operators, policies designed specifically for vaults, and more. The mortgage deposit will continue to be held back throughout this time.

A yield optimizer and liquid staking technology for ETH is called Swell. To receive swETH, a completely liquid and composable liquid staking token, stake ETH with Swell (LST).

With the protected launch of the Ethereum Mainnet expected for April 2023, this ushers in a new and improved Swell. Staking deposits are still being suspended up until that point.

Currently on Swell Network, there are:

  • Liquidity Staking Token (LST) - Swell Ether as Rewards (swETH)
  • Complete fungibility, liquidity, and aggregability
  • Operator of the moderated button
  • Specialized vaulting technique
  • Plus more

Existing Swell users will transfer to the new version without any difficulty and without having to take any action. The DAO gave up on the earlier atomic/NFT deposit-based architectural concept.

Previous to that, in March of the previous year, Framework Ventures led a $3.75 million seed fundraising round for Swell Network.

Recently, there has been significant community interest in not only Swell, but also ETH staking protocols. This is largely due to Ethereum's successful transition from proof-of-work (PoW) to proof-of-stake (PoS), which has made ETH a key source of profit in the DeFi space.

Since the successful implementation of The Merge in September, Ethereum has made notable advancements. The recent Shanghai upgrade allows investors to withdraw their staked ETH, potentially leading to a predicted 50% increase in ETH staking volume.

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