Swell Network Plans to Distribute 50 million SWELL tokens under its Airdrop
Swell Network, an Ethereum staking protocol, has announced the airdrop planning to distribute 50 million SWELL tokens, which constitutes 5% of the total supply. This is part of their Voyage campaign, where users who stake ETH are eligible for a share of the SWELL tokens airdrop.
The total quantity of SWELL tokens distributed through the airdrop will depend on the Total Value Locked (TVL). At present, the plan is to airdrop 50 million SWELL tokens after the Token Generation Event (TGE). However, if the community achieves the milestone of 50,000 ETH, the total distribution will increase.
Here's a step-by-step guide to participate:
1. Navigate to the Swell staking page.
2. Sync your wallet.
3. Stake your ETH.
4. Upon staking, you'll receive Swell’s liquid staking token, swETH.
5. You'll then start accruing PEARL points, visible in the Voyage section.
6. To earn additional PEARL points, provide liquidity to the swETH pools on the protocols listed in the Voyage section.
Swell Network is a permissionless, non-custodial, and liquid ETH staking protocol that is built for stakers, node operators, and the Ethereum ecosystem.
Swell’s ultimate goal is to simplify DeFi accessibility, enhance Ethereum's security, and foster a transparent, decentralized, and inclusive financial future that respects the principles of economic freedom.
At its core, Swell empowers users to generate passive income by staking their Ethereum (ETH) and earn rewards. Instead of locking up capital, Swell issues a yield-bearing liquid staking token (LST) to users, which they can retain or engage with the broader DeFi ecosystem to earn additional returns.
Swell enables any user to stake any amount below 32 ETH. These users, in exchange for their capital, receive a liquid, transferable token reflecting their staked ETH and earned rewards. This token can be used similarly to ETH in DeFi, providing liquidity while also earning staking rewards. Also Swell users can access non-custodial liquid staking via a transferrable ERC-20 token, called swETH.
Swell has raised a total of $3.8M in funding from investors like Framework Ventures, Maven 11, Appolo Crypto and Mark Cuban.
