Hotcoin Research｜Play and Earn WEB3: Brother Sun's Airdrop Secrets: Swell Network Complete Strategy

Case analysis: Justin Sun’s on-chain operations

Justin Sun is the founder and CEO of TRON, and his on-chain operations have always attracted much attention. The following is his recent operation record on Swell L2 and EigenLayer:

1. Justin Sun deposited 120,000 eETH into Swell L2 on May 4, worth approximately US$376 million, accounting for 46.6% of the total deposits in Swell L2 . This large deposit makes Sun the largest single depositor of Swell L2.

2. Justin Sun is also an active participant in EigenLayer’s re-staking program and became the first airdrop recipient.

3. In addition, Justin Sun has also participated in multiple re-staking projects such as Puffer Finance and Ether.Fi, demonstrating his strong interest in the staking and re-staking ecosystem.

Through Justin Sun’s example, we can see how large amounts of money operate in the re-staking ecosystem, and the potential to earn generous airdrop rewards and points by participating in pre-launch phase activities.

Project Introduction

Swell Network is an ETH liquidity staking protocol built specifically for stakers, node operators and the Ethereum ecosystem. Users can stake ETH and receive swETH, thereby earning DeFi benefits. The upcoming L2 for Restaking will allow users during the pre-launch phase to deposit swETH, rswETH and other supported assets in order to receive airdrops from projects built in this new restaking ecosystem.

Swell L2 is L2 for re-staking. Re-staking rollup built on Polygon CDK, working with AltLayer, Chainlink and Redstone, leveraging EigenDA and Polygon AggLayer. It was funded by Polygon Labs.

Project progress

Currently, the mainnet of Swell Network has been launched, and the team is actively developing and testing the Swell L2 network. Swell L2 is currently conducting a pre-deposit airdrop activity. Users can obtain airdrop rewards and points by participating in the pre-deposit activity. This stage is mainly to ensure the stability and security of the platform and prepare for the future launch of the L2 mainnet.

According to the latest data, total deposits in Swell L2’s pre-launch phase have reached $1.7 billion, with 45,470 depositors participating. The total pledge amount of the liquid pledge token swETH is US$617.89 million, the corresponding ETH pledge amount is 171,910 pieces, the annualized rate of return (APR) is 3.80%, and the number of users participating in the pledge is 124,561. The total pledge amount of the re-pledged token rswETH is US$463.4 million, the corresponding ETH re-pledge amount is 130,613 pieces, the annualized rate of return (APR) is 3.99%, and the number of users participating in the re-pledge is 35,301. These data show that Swell L2’s liquidity staking and re-staking activities have attracted a large number of users and funds, showing strong market demand and good development prospects.

So far, Swell Network has received funding from Polygon Labs and collaborated with a number of well-known projects, including AltLayer, Chainlink, and Redstone. Additionally, Swell is driving technology integration with EigenDA and Polygon AggLayer to further improve the efficiency and security of its restaking ecosystem.

In the coming months, the team plans to gradually open more features, including liquidity staking, re-staking, and deep integration with other DeFi projects. Users can obtain the latest project progress and activity information by following official channels (such as the official website and social media).

How to participate

1. Visit the Swell Network official website: https://app.swellnetwork.io/retake

Connect your wallet (supports MetaMask and other compatible Ethereum wallets).

Enter the amount of ETH you want to stake on the staking page (0.1 ETH and above recommended), and then click "retake".

2. After confirming the transaction, you will receive the corresponding amount of rswETH in your wallet.

3. Enter the Swell L2 page and select the token pre-deposit function.

Enter the amount of rswETH you want to deposit and perform authorization operations (pre-deposited tokens can be withdrawn at any time, no need to worry about not being able to get them back when the funds are used).

4. After completing the authorization, click "deposit" to deposit.

4. After the deposit is completed, you can view and withdraw your deposit at any time through the Withdraw button. Note that deposits withdrawn before the mainnet launch will only receive a small amount of airdrop rewards.

Strategy and Profit Analysis

Participate in Swell Network’s airdrop and staking activities, and you can earn income in the following ways:

1. Airdrop Rewards: Participate in deposit activities during the pre-launch stage, you will Have the opportunity to receive airdrop rewards from Swell and other partner projects such as ION Protocol, Ambient Finance, Brahma Finance, etc.

2. Local points and rewards: Deposited tokens will receive Swell L2’s local points and rewards, including EigenLayer points and other platform reward points. These points can be redeemed for various rewards in the future ecosystem.

3. Staking income: Obtain rswETH by staking ETH and re-staking on Swell L2, you will continue to receive staking income and re-staking rewards.

Taken together, participating in Swell Network’s airdrop and staking activities can not only obtain direct airdrop rewards, but also obtain long-term benefits through staking and re-staking. At the same time, Swell L2’s re-pledge ecosystem will further enhance the value and liquidity of tokens, bringing more revenue opportunities to users.

Risk

1. Technical Risk: As an emerging DeFi project, Swell Network’s technical implementation and security still need to be tested by the market. Before the main network is officially launched, there is the possibility of technical vulnerabilities and security risks.

2. Market risk: The cryptocurrency market is highly volatile, and the prices of ETH and rswETH may be affected by market sentiment and macroeconomic factors, thereby affecting users' staking returns.

3. Compliance risk: DeFi projects are facing an ever-changing regulatory environment, and Swell Network may need to deal with compliance requirements from different jurisdictions, which may affect the development of the project and the convenience of user participation.

4. Operational risk: Users need to perform multiple authorization and transaction operations during the pledge and deposit process. Any operational errors may result in loss of funds or the inability to participate in airdrop activities in time.

Summary

Participating in Swell Network’s airdrop and staking activities can bring multiple benefits, but it also requires users to understand and accept potential risks. By understanding the project progress and operating procedures in detail, users can better grasp participation opportunities and maximize benefits.

Following the latest developments of Swell Network, actively participating in pre-launch activities, and using various strategies to increase returns are important ways for investors to obtain returns in the DeFi field.

Hotcoin Research, as the core investment research department of Hotcoin, is committed to tracking and analyzing industry trends and high-quality projects. We provide institutional-level analytical reporting, market insights and information support. Through the "Play to Earn Web3" column, readers can get professional analysis and guidance on early high-quality projects. Please note that cryptocurrency investment carries high risks and it is recommended to operate within a strict risk management framework.

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