Swell Network is a decentralized finance platform that has announced its upcoming Swell Network airdrop. The Token Generation Event (TGE) is expected in late Q1 of 2024. The platform offers a unique opportunity to earn rewards and participate in its ecosystem through various activities.
What is Swell?
Swell is a non-custodial liquid staking protocol with a mission to deliver the world’s best liquid staking experience, simplify access to DeFi, while securing the future of Ethereum.With Swell, users are able to earn passive income by staking ETH to earn blockchain rewards and in return be provided with a yield bearing liquid staking token (LST) to hold or participate in the wider DeFi ecosystem to earn additional yield.
Earning Pearls on Swell Network
What are Pearls?
Pearls are a form of reward on the Swell Network, which will later be converted into $SWELL tokens at the TGE.
How to Earn Pearls
- Staking ETH for $swETH: Earn 30 pearls per ETH staked.
- Restaking $swETH on EigenLayer: Additional 30 pearls per ETH.
- Referral Program: Earn 10 pearls for each ETH staked by a referred user.
Steps to Earn Pearls
- Open and Connect Wallet: Access the Swell Network wallet interface and connect your wallet.
- Stake ETH: Stake your ETH and receive $swETH. Note that unstaking is currently unavailable.
- Restake on EigenLayer: Navigate to the “Restake” section and deposit your $swETH on EigenLayer. This process earns you 60 pearls, plus an additional 10 for using our Link.
By participating in these activities, you also accumulate EigenPoints, which are part of the Swell Network’s reward system.
Key Information and Steps
To participate in the Swell Network activities, you need a Metamask wallet. Ensure you have Metamask set up and understand how to use it for transactions on the Swell Network.
Understanding the Risks
Before participating, it’s crucial to understand the risks involved in decentralized finance. Swell Network provides detailed documentation on the risks associated with their platform and DeFi in general.
Additional Resources For Swell Network Airdrop
The Swell Network offers a unique opportunity for users to earn rewards and participate in its growing ecosystem. By following the steps outlined in this guide, you can start earning pearls and prepare for the upcoming $SWELL airdrop. Remember to stay informed and understand the risks involved in your participation.
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