Ethereum re-pledge project Swell launches its own Layer 2! Use rswETH as its native token

This site (120btC.coM): Ethereum re-staking project Swell announced that it will launch its own Layer 2, which is expected to be launched in May. The main focus is "Layer 2 designed specifically for re-staking". Positioning and empowering its own liquidity re-hypothecation token (LRT) rswETH with more utility, it is expected to bring greater help to the Swell protocol. Pre-deposited asset activities have already started.

Swell Layer2 Basic Information Introduction

Swell L2 is built based on the Polygon CDK and AlterLayer suites, using zkEVM technology as the proof upload mechanism, and the network economic security part will cooperate with EigenLayer As an AVS, data availability is powered by EigenDA.

The native fuel token of Swell Layer2 will be rswETH, which is the LRT launched by Swell and the first LRT as a fuel token. The governance tokens of this chain include SWELL, swETH and rswETH.

According to the official website information, the security of the Swell Layer2 network is protected by a triple pledge mechanism. You can choose to pledge three assets: SWELL, ALT and rswETH to protect network security.

All users who deposit assets into Swell Layer2 can obtain the native income of network LRTfi, similar to the design concepts of Blast, Manta, and Memenet.

Accepts a variety of LST and LRT assets

Swell Layer2 cooperation project

Swell Layer2 will be able to accept users to deposit a variety of assets , in addition to ETH, it accepts LST and LRT from competitors and partners, including:

• Swell’s own swETH and rswETH

• Renzo ezETH

• Ether.fi’s eETH, weETH

• Stake Stone’s STONE

• ##Pendle PT-rswETH

• Eigenpie’s mswETH, mstETH, mwbETH, mmETH

• Lido’s stETH, wstETH

• AlterLayer’s ALT

Swell Layer2 related marketing activities

The network is not yet online, but pre-deposit activities have been started.

The Swell team stated that users who deposit assets in Layer 2 will receive more SWELL token airdrops. The team also hinted that the airdrop will occur in the third quarter of this year. In addition, users who participated in the first four weeks can also share 1 million EigenLayer points equally with other participants.

Swell Layer2 strengthens the effectiveness of LRT

From the above design structure and cooperation model of Swell Layer2, the team can be summarized into two main design directions:

• Enlarge Utility of rswETH: In the Swell Layer2 ecosystem, rswETH can be used for network fuel fees, governance tokens, and network validator pledge assets to solve the dilemma of useless LRT assets as much as possible.

• Utility of leveraged assets: The positioning of the LRT project itself is to amplify user income as its selling point. Swell Layer2 inherits this positioning and provides users with multiple rewards and native income, but at the same time, it also increases safety assumptions. and risk.

If Swell Layer2 can be more active, it will make the Swell protocol more stable, because the greater the demand for rswETH, the more people will use the Swell re-staking protocol.

However, there are still many details that need to wait for the official team to release further information. There are still certain risks. Users who want to participate are advised to evaluate carefully.

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