On Jan. 29, Swell announced the launch of rswETH, a liquid restaking token (LRT). The token allows users to earn Ethereum staking rewards and native restaking yield from EigenLayer without locking up their liquidity, meaning users can also use their tokens in third-party DeFi protocols.
Tokenholders also earn EigenLayer’s Restaked Points alongside Pearls — which represent a future claim to Swell’s forthcoming SWELL token. Swell will accumulate 10% of users’ staking rewards after taking zero fees for the first 30 days after rswETH’s launch.
Swell currently boasts $455.6M in total value locked, according to DeFi Llama, with its liquid staking token (LST) accounting for 97% of the TVL.