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Swell Network (SWELL)

Past
Total Raise: $3,750,000
Date: 14 Mar - 15 Mar

Swell Network is a liquid staking protocol built on Ethereum, with its own liquid staking tokens - swETH and rswETH. As with other liquid staking protocols, these tokens can also be used in other DeFi protocols to earn additional APR.

Moreover, in 2024, the Swell crypto protocol announced the launch of its own L2 network, where the security will be powered by Swell restaked ETH - rswETH, and the governance layer by the native $SWELL token.

Since March 2022, the company has garnered significant attention from tier 2 funds, including Framework Ventures, Maven 11 Capital, and others, raising over $3.75 million in total.

❗️ ❗️ ❗ IMPORTANT:

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Swell Network Overview

Ticker: SWELL
Country: Australia
Founded: 2020
Whitelist: No
Blockchain Network: Ethereum, Swell Network
KYC: No
Bounty: Yes
MVP: Yes
Type: Equity
Security Audit: Yes

Swell Network Review

Swell network is a Ethereum liquid staking protocol with its own yield-bearing liquid tokens - swETH and rswETH. It allows users to passively earn APR from security Ethereum network and AVS restaking services, while still owning liquid funds. 

When a user stakes ETH on the Swell Network, they receive one of Swell’s liquid staking tokens, either Swell rswETH or swETH token. Originally, the price of those LSTs tokens is pegged to the value of Ethereum. However, over time, they  outperform Ethereum by the percentage of APR that Swell Network offers to users. This way users are able to passively earn APR from staking Ethereum, while still remaining ownership of their funds in the form of LSTs. 

On March 13th, 2024, the Swell liquid staking protocol announced the release of its Ethereum L2 network, built on Polygon CDK and powered by the “restaking rollup”. The new staking rollup is integrated by design with EigenLayer Actively Validated Services (AVS) and supports the rswETH token as a currency for paying gas fees within the Swell L2 network.

Along with the launch of its L2 network, the platform announced the release of its native SWELL token, which will be used for participating in DAO votings and incentivizing Ethereum staking initiatives within the Swell staking protocol and L2 network.

With the upcoming release of the native token, Swell airdrop and mainnet launch of the its L2 network, the CoinLaunch decided to analyze the entire project and found some major pros and cons of the project:

 

Swell Network’s pros:

  •  The highly demandable product that aligns with the quite popular “ethereum restaking” trends;
  • First Ethereum L2 network built on the restaking rollup;
  • Relatively big project’s community of over 141K users;
  • The platform boasts over $1.9B worth of TVL;.
  • Presence of the security audits from tier 1 and tier 2 companies;
  • Strong PR, SEO, SMM, Growth as well as Influencer marketing performance;
  • Above the average Marketing infrastructure score;
  • Multiple Tier 1 partners supporting the project.

Swell Network’s cons:

  • Lack of TOP tier funds supporting the project;
  • Although the team is well-educated and skilled, they lack experience in tier 1 and tier 2 web3 companies.

Swell Network Token Economy

Total Raise: $3,750,000
Total Supply:
Private/Pre-sale: (0%)
Public Sale: (0%)
Fully Diluted Valuation (FDV):
Initial Circulation Supply: (0% of FDV)

Swell Network Token Sale (ICO & IDO) Rounds

Seed: 14 Mar - 15 Mar

Price: N/A
Tokens for sale: N/A
Raise: $3,750,000
Lock-Up: N/A

Swell Network Funds and Backers
(3/4)

Submit
6 numbers of
investment
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IOSG Logo
IOSG Ventures
Score: High
4 numbers of
investment
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1 numbers of
investment
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Swell Network Influencers
(3/6)

Submit
David Hoffman
David Hoffman
Score:
1 numbers of
investment
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Kain Warwic
Kain Warwic
Score:
1 numbers of
investment
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1 numbers of
investment
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Swell Network Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  06 May 2024 Upgrade

Swell Network Team

Daniel Dizon
Daniel Dizon
Founder
Senya Webster
Senya Webster
COO
Aaron Alderman
Aaron Alderman
CTO
John Nguyen
John Nguyen
Chief Strategy Officer
Abishek Kannan
Abishek Kannan
Chief Strategy Officer

Swell Network News

Swell Network Roadmap

MAR 2023

Swell testnet;

APR 2023

Swell Beta mainnet;

JAN 2024

Swell adds rswETH;

MAR 2024

Swell announces plans of launching L2 network;

MAY 2024

Swell L2 network launch.

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