EigenLayer Airdrop Strategy V: Swell rswETH and Multi-LRT Liquidity Pools

EigenLayer Airdrop

Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.

This week, we cover three new liquidity pool strategies in collaboration with Swell Network’s new native LRT, rswETH. Having covered LRTs (liquid restaking tokens) previously, this will be a simple tutorial building upon what we’ve learned with eETH by ether.fi, the first LRT to recently achieve over $1B in ETH deposits as well as ezETH by Renzo Protocol.

Launched in spring 2023, Swell Network quickly rose among the ranks of newer ETH LSTs. Swell is a non-custodial staking protocol aiming to offer “the best liquid staking and liquid restaking experience in DeFi.” Today, Swell’s flagship LST swETH has $666M in ETH deposits while its new LRT rswETH has just under $44M.

Their new LRT rswETH offers familiar benefits to what we enjoy with eETH and ezETH as native liquid restaking tokens:

  • No caps or time constraints to ETH deposits
  • Passive DeFi yields to earn
  • Points to earn towards a future retroactive airdrop (Swell Pearls) 

To mint rswETH by Swell, users deposit ETH here on the Swell restaking app in just 1 transaction.

Swell Network Restaking

A part of rswETH’s growth strategy appears to be building liquidity for rswETH with other major LRTs such as eETH by ether.fi ($1.12B in ETH) and ezETH by Renzo ($290M). Swell recently launched 3 liquidity pools where LPs can earn a combination of Swell Pearls, LRT protocol points, staking yield, trading

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