Swellchain joins the Superchain as an Optimistic Rollup, supported by RedStone Oracles, AltLayer, Symbiotic, and EigenLayer. Swellchain has officially launched. This Restaking chain, Swellchain, is a hub for Restaked assets, driven by Proof of Restake. The launch of Swellchain follows its successful pre-launch campaign, with a total asset deposit exceeding $1 billion from leading Restaking protocols including Swell, EtherFi, Renzo, and others. What is Swellchain? Swellchain is a Restaked Rollup built on the OP Stack, supported by a unique Proof of Restake mechanism. Our goal in building Swellchain is to develop a Rollup that achieves decentralization and scalability through Restaking. With the security and settlement capabilities of Ethereum, Swellchain will align deeply with Ethereum and has unique advantages to overcome the major challenges facing existing Layer 2 solutions, including liquidity issues, centralization, and lack of native yield. The core to realizing this vision is the Proof of Restake mechanism, which leverages Swell's liquidity Restaked assets to provide infrastructure support and services for EigenLayer AVS and Symbiotic networks—raising the value creation of Restakers to new heights. Today, we launched two AVS: Ditto, which provides secure automation through the Keeper network, and Hyperlane, which offers interoperability. Together with the AltLayer AVS secured by EigenLayer, these constitute the initial components of the off-chain Proof of Restake mechanism, with more content to be deployed in the coming weeks as we gradually realize our Swellchain vision. Supported by EtherFi, Renzo, Kelp, EigenLayer, Symbiotic, RedStone, and Ethena. Swellchain is part of the Superchain, a blockchain network powered by Optimism's OP Stack, aimed at jointly scaling Ethereum. In addition to Optimism, the launch of Swellchain has also received support from the largest participants in the Restaking ecosystem, including EtherFi, Renzo, and Kelp, as well as Ethena and Restaking platforms EigenLayer and Symbiotic, all supported by RedStone price feeds. "We are excited to welcome Swellchain to Superchain. As a hub for Restaked assets in our ever-evolving ecosystem, Swellchain enhances the utility and potential of Restaked assets on Ethereum. We look forward to supporting Swell's growth alongside other prominent brands on the OP Stack." — Mark from the Optimism DeFi Partnerships Department "Since April 2023, we have been collaborating with Swell, witnessing their developments in ETH liquid staking, liquid Restaking, Bitcoin staking, and now as a Layer 2. We are proud to be their long-term partner and support the Swellchain ecosystem as a major Push & Pull oracle." — Marcin Kazmierczak, Co-Founder and COO of RedStone Ethena Priority Strategy Swellchain is the first chain fully focused on the Ethena stablecoin strategy. Through the cross-chain bridge partner Stargate, USDe and sUSDe can be bridged. These two assets will play a significant role in the ecosystem. USDe and sUSDe are the only dollar-pegged tokens to receive Swell incentives during the chain's launch bootstrapping period. With the synergistic incentives from Ethena's reward program and the inherent rewards provided by sUSDe, we believe this presents a very attractive opportunity for liquidity providers and other DeFi users on the network. We also invite developers native to Swellchain to leverage Ethena assets. For example, the protocol Tempest, which supports Swell applications, will integrate USDe and sUSDe liquidity pools and will airdrop a portion of tokens to sENA stakers. Finally, Swell is committed to using most of the redundant sequencer profits to accumulate all the liquidity for the sUSDe protocol. This will benefit the Swell ecosystem by driving additional liquidity and DeFi utility while supporting the continued growth of Ethena. "We are excited to see more and more excellent DeFi teams building around Ethena, leveraging the composability and DeFi-first characteristics of Ethena assets. We believe that introducing Ethena assets can enhance the efficiency of DeFi integrations and increase the economic foundation available to developers, supporting better token economic models and protocol designs. Swell focuses on leveraging the network effects, rewards, and partnerships of Ethena, which is a unique approach, and we hope other protocols and networks will draw inspiration from this in the future." — Nick, Strategy Director of Ethena Bridging to Swellchain In the first two weeks, all users who bridge and hold assets on Swellchain will receive a total distribution reward of 31,250,000 SWELL. Complete the bridge before 2025 to obtain rewards and be ready to explore acquiring more SWELL and token rewards through dApps on Swellchain. Bridge now: https://app.swellnetwork.io/swellchain/launch About Swellchain Swellchain is the first vertically integrated Layer 2 Restaked Rollup created by the liquidity Restaking protocol Swell, which provides liquidity staking and Restaking primitives for DeFi. About EigenLayer EigenLayer is a decentralized Restaking protocol that enhances the security and scalability of blockchain ecosystems by allowing Ethereum validators to extend their security guarantees to other networks and services. By leveraging the existing Ethereum staking infrastructure, EigenLayer enables developers and decentralized applications to benefit from Ethereum's strong security without needing to establish separate validator networks. About Symbiotic Symbiotic is a universal shared security system that enables decentralized networks to launch robust, fully autonomous ecosystems. Swellchain will use Symbiotic Restaking to ensure the security of its Rollup alongside sorting, DeFi oracles, and cross-chain bridging as part of the Proof of Restake mechanism. About RedStone RedStone is the fastest-growing oracle in 2024, focusing on providing yield asset staking support for lending markets. Trusted by top DeFi protocols, including Swell, Morpho, Compound, Pendle, Venus, Lido, EtherFi, Ethena, and over 80 other clients. RedStone offers a variety of high-demand assets such as LSTs, LRTs, Convex-Bitcoin, and other assets.
