According to Foresight News, Swell, a liquidity re-pledge agreement, has announced its intention to delegate up to $500 million in re-pledged Ethereum (ETH) to NEAR. This move is aimed at ensuring the security of the ultra-fast finality layer provided by NEAR for Ethereum Layer 2 (L2).
The pledged ETH will be used as a security measure to maintain the integrity and stability of the finality layer. This is a significant step towards enhancing the security and speed of transactions on the Ethereum network.
The collaboration between Swell and NEAR is expected to bring about a more secure and efficient environment for transactions, thereby improving the overall user experience on the Ethereum L2 platform.
